International

  • May 30, 2024

    Russian Gas Ex-CFO Says $44M FBAR Penalty Is Excessive

    The former chief financial officer of a Russian gas company who was sentenced to seven years in prison for hiding money in Swiss banks told a Florida federal court that the $44 million in foreign account reporting penalties the government is seeking is illegally high.

  • May 30, 2024

    Panama Papers Leak Led To $283M In Swedish Tax Revenue

    The Swedish Tax Agency said Thursday it has corrected the tax assessments of roughly 100 people and companies connected to the so-called Panama Papers leak, capturing roughly 3 billion Swedish kronor ($283 million) in added tax revenue.

  • May 30, 2024

    Legal Advice On Corp. Setups Protected, ECJ Adviser Says

    A law firm's legal advice, even that concerning the setting up of a corporate investment structure, is within the scope of legal professional privilege guaranteed by European Union law, an adviser to the EU's highest court said Thursday.

  • May 30, 2024

    EU's Top Court Rules Spanish Regional Energy Taxes Illegal

    European Union energy tax law forbids Spanish regions to set their own rates for excise duty on energy, the EU's top court said Thursday, finding that possible exemptions did not apply in the Spanish case.

  • May 30, 2024

    Freeze On UK Tax Thresholds Set To Expire in 2028, Hunt Says

    Chancellor Jeremy Hunt said on Thursday that the freeze on income tax thresholds will continue until 2028, despite promises by the Conservative government to reduce the overall taxation burden in the future.

  • May 30, 2024

    Italian Rules On Internet Companies Unlawful, ECJ Finds

    Amazon, Google, Airbnb and other internet companies have won their fight against a law requiring them to provide Italian authorities with information about their operations as the European Union's highest court ruled Thursday that the obligation breaches of the bloc's rules.

  • May 29, 2024

    Irish Court Denies $19.2M Tax Payment To Australia

    The Australian Taxation Office lost a bid to have a now-liquidated Australian investment company repay a AU$29 million ($19.2 million) tax debt after an Irish court determined the payment should instead go to a lender.

  • May 29, 2024

    Colombian Court Affirms Fossil Fuel Tax Break Must Stay

    The Constitutional Court of Colombia affirmed its decision to strike down a law denying fossil fuel companies the ability to offset corporate income tax liabilities with deductions for royalty payments despite a severe impact to public finances, the country's president said.

  • May 29, 2024

    Baker McKenzie Grows Tax Practice With Ex-KPMG Adviser

    Baker McKenzie announced the hiring of an experienced Chicago-based tax adviser as a principal who most recently spent sixteen and a half years at Big Four accounting firm KPMG.

  • May 29, 2024

    Belgium Opens Pillar 2 Mandatory Reporting Form

    Belgium's finance ministry opened Wednesday its mandatory notification system for entities in scope of its implementation of the Organization for Economic Cooperation and Development's global corporate minimum tax known as Pillar Two, starting a 45-day clock for such companies to register.

  • May 29, 2024

    Next UK Gov't Should Invest In Tax System, Pros Say

    Improving the administration of the U.K. tax system should be a focus of the country's next government if it hopes to improve economic growth, a group representing tax professionals said, laying out issues that need to be addressed.

  • May 29, 2024

    IMF Report Suggests Germany Should Increase Taxes

    Germany could consider increasing taxes to help pay for needed expenditures, an International Monetary Fund report said, adding that this would be a necessary complement to a more generous fiscal policy.

  • May 29, 2024

    Three EU Countries Urge Tax Reform To Boost Investment

    Three smaller European Union countries, Austria, Croatia and Slovenia, are backing tax reforms in the 27-country bloc to support investment in capital markets, including exemptions from capital gains tax for long-term retail investment products, according to a joint declaration.

  • May 28, 2024

    Lithuania Seeks CJEU Ruling On Gaming Co.'s $1.1M Tax Bill

    Lithuanian tax authorities have asked the Court of Justice of the European Union whether the past economic justification for a video game company's structure allows it to avoid €1 million ($1.1 million) in tax payments, according to court documents.

  • May 28, 2024

    Mich. Doctor Denied Release From Contempt In FBAR Fight

    A Michigan doctor will stay jailed for civil contempt after a federal judge found Tuesday that he failed to back up claims that he cannot pay his more than $1 million in foreign bank account reporting penalties due to a bank's bankruptcy and his criminal history.

  • May 28, 2024

    Global Tax Body Provides Crypto Risk Assessment Red Flags

    The Internal Revenue Service and four international tax authorities issued an advisory to financial institutions on the dangers of cryptocurrency in relation to tax evasion, money laundering and other illicit activities, identifying certain risk factors worth their attention.

  • May 28, 2024

    Tax Lawyer Rejoins Mayer Brown In DC From Latham

    Mayer Brown LLP has rehired a tax partner from Latham & Watkins LLP, who joins the firm in Washington, D.C., to continue working with clients to best utilize renewable energy tax credits, the firm announced Tuesday.

  • May 28, 2024

    OECD Issues Voluntary Disclosure Program Guidance

    The Organization for Economic Cooperation and Development issued guidance for tax administrations that are considering implementing voluntary disclosure programs before adopting the group's automatic information exchange standards.

  • May 28, 2024

    Moldova Joins OECD Fight Against Tax Avoidance

    Moldova has joined the more than 140 jurisdictions looking to rein in tax base erosion and has committed to instituting changes in line with the Organization for Economic Cooperation and Development's anti-tax avoidance standards, the organization said in a news release Tuesday.

  • May 28, 2024

    9th Circ. Won't Touch IRS Bid For Tax Liability On Bookie

    A bookie who pled guilty to helping run an illegal sports gambling ring out of Peru can't escape his ensuing $100,000 tax liability under a Ninth Circuit ruling that declined to expunge his conviction after he argued the taxes are disproportionately punishing.

  • May 28, 2024

    EU Needs Boost From New Incomes, Say Macron, Scholz

    France and Germany want the European Union to find new revenue sources for the common EU budget, possibly from new taxes, to finance investments in joint projects, leaders of both countries said Tuesday. 

  • May 28, 2024

    Greenberg Traurig Adds Tax Pro From MoFo In London

    Greenberg Traurig LLP added to its deep bench of legal talent by recruiting a tax partner from Morrison & Foerster to join the firm's London office and co-chair its tax practice, the firm said.

  • May 28, 2024

    Labour Party Rules Out Any Additional Tax Rises

    The Labour Party on Tuesday ruled out introducing any more tax rises in addition to measures it has already announced in the event it wins the July 4 general election.

  • May 28, 2024

    Lithuania Says Pillar 2 To Take Effect In July

    Lithuania's law implementing the global minimum corporate tax known as Pillar Two, which aims to ensure large multinationals pay at least 15% tax, is expected to take effect in July, the country's Finance Ministry said Tuesday.

  • May 27, 2024

    G7 Moves Toward Using Frozen Russian Assets For Ukraine

    Finance ministers from the Group of Seven countries made progress over the weekend on agreeing how to use profits from frozen and immobilized Russian state assets to support Ukraine's war against Russia, although European members had doubts about the arrangement.

Expert Analysis

  • How Attorneys Can Be More Efficient This Holiday Season

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    Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.

  • How Clients May Use AI To Monitor Attorneys

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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • A Year-End Look At Florida's Capital Investment Tax Credit

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    Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.

  • General Counsel Need Data Literacy To Keep Up With AI

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    With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.

  • Navigating Discovery Of Generative AI Information

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    As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

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