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Navigating the Nuances of IRS Letters: Expert Insights on the Transfer Pricing Initiative
As the U.S. Internal Revenue Service (IRS) rolls out its Large Foreign-Owned Corporations Transfer Pricing Initiative, tax experts are...
Jan 30, 20242 min read
Italian Authorities Uncover €1.7 Billion Tax Fraud and Money Laundering Scheme Involving Chinese Shadow Banks
Italian authorities announced on Thursday that they had uncovered a tax fraud scheme involving 85 suspects, with 1.7 billion euros ($1.9...
Jan 29, 20242 min read
European Union Plans "Windfall Tax" on Frozen Russian Central Bank Assets
The European Union (EU) is reportedly considering the imposition of a "windfall tax" on the profits derived from the frozen assets of the...
Jan 25, 20242 min read
RSM Reports 17% Surge in Tax Revenues Fueled by Pillar Two Advice and Global Growth
Global accountancy firm RSM has reported a significant surge in tax revenues, marking a 17% increase to $2.6 billion, fueled by a notable...
Jan 24, 20242 min read
Deloitte Partner Raises Detailed Concerns Over OECD's Proposed Permanent Establishment Threshold
Alison Lobb, a prominent partner at Deloitte specializing in transfer pricing, tax policy, and international tax, has voiced...
Jan 24, 20242 min read
Kerala's New Gambling Tax Sparks Industry Discussion in India
The recent decision by the governor of Kerala to increase the state's goods and services tax (GST) on gambling from 18% to 28% has...
Jan 23, 20243 min read
Revolutionizing the Tax Industry: Embracing AI as a Catalyst for Transformative Change and Talent Attraction
As the tax industry grapples with the confluence of technological complexity and a shortage of skilled professionals, Russell Gammon,...
Jan 17, 20242 min read
Deloitte Partners Raise Concerns Over Effectiveness of European Commission's Transfer Pricing Directive
In response to the European Commission's proposed Transfer Pricing Directive, Deloitte partners Pablo Zalba and Nathalie Aymé have...
Jan 12, 20242 min read
HMRC Tax Penalties Skyrocket: A Detailed Analysis of the 25% Surge and Its Impact on Businesses
The HM Revenue and Customs (HMRC) in the UK has witnessed a significant uptick in the value of tax penalties, recording a remarkable 25%...
Jan 10, 20242 min read
Tax Cases to Watch in 2024: Microsoft, Freshfields Partner, Apple, and SKAT
As the tax landscape evolves, 2024 is poised to be a year filled with significant developments in tax disputes. From multinational...
Jan 5, 20242 min read
IRS Empowered to Consider Corporate Group Membership in Intragroup Loan Interest Rates, Legal Memorandum Suggests
The Internal Revenue Service (IRS) in the United States may now consider a company's membership within a corporate group when determining...
Jan 4, 20242 min read
Global Minimum Tax: Unraveling the Historic Reform Impacting Multinationals and the World Economy
Effective January 1, a groundbreaking global tax reform has been enacted, representing a significant milestone in the quest for equitable...
Jan 3, 20243 min read
The European Tax Adviser Federation (ETAF), representing 215,000 regulated tax advisers, has raised concerns over the European Commission's proposed Transfer Pricing Directive
The European Tax Adviser Federation (ETAF), representing 215,000 regulated tax advisers, has raised concerns over the European...
Dec 22, 20232 min read
Brazilian lawmakers have given their approval to Constitutional Amendment Bill No. 45/2019
In a historic move, Brazilian lawmakers have given their approval to Constitutional Amendment Bill No. 45/2019, heralding the most...
Dec 21, 20232 min read
KPMG's Response to US Senators' Queries on Microsoft's Transfer Pricing Tactics Remains Uncertain
US Senators seeking clarification from KPMG regarding its alleged role in aiding large corporations, including Microsoft, in offshoring...
Dec 13, 20232 min read
Cyprus and France Ratify Updated Double Tax Treaty to Combat Double Taxation and Tax Avoidance
The Ministry of Finance announced on Monday that the Republic of Cyprus and France have ratified an updated double tax treaty, aimed at...
Dec 12, 20232 min read
US Companies Underpaid £5.6 Billion in UK Tax, HMRC Claims
HM Revenue and Customs (HMRC) alleges that US companies were responsible for nearly half of the underpaid tax by all foreign companies in...
Dec 11, 20232 min read
Former Freshfields Tax Chief Likely to be Found Guilty in Maple Bank Tax Fraud Case
Ulf Johannemann, the former global head of tax at Freshfields Bruckhaus Deringer, is likely to be found guilty of aiding and abetting tax...
Dec 6, 20232 min read
Vietnam's National Assembly Approves 15% Global Minimum Corporate Tax, Impacting Samsung and Others
In a recent development, Vietnam's National Assembly has given the green light to a 15% global minimum corporate tax, set to take effect...
Dec 5, 20231 min read
Indonesia's Comprehensive Strategy Against Tax Evasion: Global Engagement and Domestic Measures
Introduction In the evolving landscape of global finance, Indonesia has emerged as a formidable player in the fight against tax evasion....
Dec 4, 20235 min read
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