International
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April 18, 2025
Taxation With Representation: Davis Polk, Simpson Thacher
In this week's Taxation With Representation, Global Payments Inc. buys Worldpay from GTCR and FIS, Intel Corp. sells a stake in its Altera business to Silver Lake, KKR acquires OSTTRA from S&P Global and CME Group, and Canada's Capital Power Corp. nabs two U.S. natural gas power plants.
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April 18, 2025
Dutch Cancel Planned VAT Hike Amid Budget Revisions
The Netherlands is no longer planning to increase value-added taxes on sports, culture and media, the Dutch Finance Ministry announced Friday.
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April 17, 2025
Tribal Members Fight Bid To Transfer Canadian Tariff Dispute
Four members of Montana's Blackfeet Nation are fighting a motion by the federal government to transfer their bid to block several Trump administration orders and proclamations imposing tariffs on Canadian goods, arguing there's no legal basis for the move to the U.S. Court of International Trade.
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April 17, 2025
Man's Deportation Looms After Tax Evasion Plea Stands
A Connecticut federal judge denied a man's attempt to vacate his guilty plea for tax evasion, despite accepting that his lawyers had misled him into believing that if he received no prison time he could avoid mandatory detention and likely deportation by U.S. Immigration and Customs Enforcement.
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April 17, 2025
IMF Predicts No Recession But Slower Growth Amid Tariffs
The International Monetary Fund is predicting slower global growth but no recession even with costly uncertainty around U.S. tariff rates reaching levels last seen more than 100 years ago, the fund's managing director said Thursday at its annual spring meeting.
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April 17, 2025
Ex-Pandora Boss Sues Trustee Over £3.3M Tax Bill
The former president of jewelry giant Pandora has sued a tax adviser for allegedly mismanaging his retirement trust and negligently exposing him and the company to significant liabilities and financial loss tied to a €2.2 million ($2.5 million) French property deal.
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April 16, 2025
Tax Court Says Hedge Fund Basket Options Abused Tax Perks
A Connecticut-based hedge fund has engaged in a complex stock-selling strategy using option contracts that the Internal Revenue Service had determined to be an abusive scheme to avoid paying high taxes on the capital gains, the U.S. Tax Court said Wednesday.
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April 16, 2025
DC Judge Considers Bid To Block IRS Info Sharing With ICE
A D.C. federal judge on Wednesday questioned whether immigrant advocacy groups have standing to block a tax information-sharing agreement between the IRS and immigration enforcement agencies, but she also outlined concerns that the agreement could be abused.
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April 16, 2025
Lithuania Considering €249M Corporate, Property Tax Hike
Lithuania is considering numerous tax proposals that would generate an additional €248.7 million ($283.4 million) in 2026 for the state and municipal budgets, including increases to its corporate tax rate and a property tax overhaul suggested by the OECD, its finance ministry said Wednesday.
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April 16, 2025
Canada Automakers Can Avoid Country's Tariffs On US Cars
Automakers in Canada won't have to pay the country's retaliatory tariffs on certain U.S. cars as long as they continue to manufacture vehicles in Canada and complete planned investments there, one of a trio of relief measures announced by the Department of Finance.
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April 16, 2025
UAE Updates Min. Tax Guidance To Align With OECD
The United Arab Emirates' finance ministry adopted guidance from the Organization for Economic Cooperation and Development to keep the country's implementation of the global corporate minimum tax in line with international standards, the country's official news agency said Wednesday.
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April 16, 2025
China Says Malaysia Willing To Expand Bilateral Trade
Malaysia's government said it's willing to expand bilateral trade with China during Chinese President Xi Jinping's visit to the country Wednesday, one day after Xi inked a strategic partnership agreement with Vietnam that includes growing trade, according to Chinese government news releases.
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April 16, 2025
China's Long-Term Prospects Unfazed By Tariffs, Official Says
China's long-term prospects are unfazed by U.S. tariffs because of its industrial resilience, diversified trade and shift toward domestic consumption, a Chinese government official said Wednesday as the country posted 5.4% year-on-year growth in gross domestic product during the first quarter of 2025.
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April 16, 2025
Hunter Biden Tax Probe Critic Named Acting IRS Chief
An Internal Revenue Service special agent who accused the U.S. Department of Justice of misconduct in an investigation of former President Joe Biden's son Hunter has been named the acting IRS commissioner, a U.S. Treasury Department spokesperson confirmed Wednesday.
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April 15, 2025
7 Arrested In France In €3.4M Cross-Border VAT Fraud Case
The European Public Prosecutor's Office arrested seven people suspected of carrying out a value-added tax fraud scheme involving what it called valuable vehicles that resulted in at least €3.4 million ($3.8 million) in tax losses, the EPPO said Tuesday.
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April 15, 2025
Trump's Tariff Reprieves Buy Lawyers Time To Strategize
President Donald Trump's expanded tariff exclusion for electronic goods from China and the pause on higher rates for all countries except China gives lawyers an opportunity to seek mitigation solutions for importers, but the moves do little to create long-term business certainty.
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April 15, 2025
NY Manufacturers Highly Gloomy Amid Tariffs, Fed Says
New York manufacturers in early April became pessimistic about general business conditions over the next six months to an extent rarely matched in the history of a monthly survey by the Federal Reserve Bank of New York, coinciding with the imposition of tariffs, the bank reported Tuesday.
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April 15, 2025
Hong Kong, Armenia Double-Tax Agreement Enters Into Force
A treaty to avoid double taxation between Hong Kong and Armenia has gone into force after being approved by both jurisdictions' legislatures, Hong Kong's Inland Revenue Department said Tuesday.
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April 15, 2025
Treasury Should Scrap Cloud Computing Rules, NFTC Says
The U.S. Treasury Department should withdraw proposed regulations for determining the source of income from cloud computing, according to the National Foreign Trade Council, which contended the rules add significant complexity to digital transactions.
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April 15, 2025
Sweden Wants EU-Style, Country-Level E-Invoicing Of VAT
The Swedish Tax Agency wants countries to adopt electronic invoicing of VAT at the national level to complement the EU requiring it for cross-border transactions, the agency said, arguing it would prevent a large amount of fraud.
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April 15, 2025
EU Still Open To Zero-Tariff US Deal, Trade Chief Says
The European Union remains open to a trade deal with the United States to reach zero tariffs on all goods between the country and the trade bloc, the EU trade commissioner said.
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April 14, 2025
IRS-ICE Info Pact Lacks Needed Safeguards, Experts Say
The IRS recently agreed to share confidential tax return data with immigration enforcement agencies for criminal proceedings, saying the agreement complied with privacy laws, but tax and privacy experts said they had concerns that the deal was vague and lacked safeguards to ensure the information is lawfully used.
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April 14, 2025
The Tax Angle: TCJA Lobbying, IRS Staff Cuts
From a look at a report on corporate tax lobbyists working to renew the 2017 tax law to another assessing the impact of IRS budget cuts and staff reductions on audit activity, here's a peek into a reporter's notebook on a few of the week's developing tax stories.
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April 14, 2025
US Cuts Tariffs On Chinese Electronics But Vows New Levies
The U.S. scaled back tariffs on Chinese semiconductors and related products like computers and smartphones, but Commerce Secretary Howard Lutnick said those goods and pharmaceuticals would face sector-specific tariffs in one to two months.
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April 14, 2025
Treasury, DOGE Scrap 9 IRS Guidance Docs As Unnecessary
The White House's Department of Government Efficiency cut nine IRS guidance documents Monday that it said were unnecessary because they were obsolete, outdated or covered by other rules and regulations, including one related to a topic addressed by the Tax Cuts and Jobs Act.
Expert Analysis
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How The CRE Industry Is Adapting To Tariff Uncertainty
Amid uncertainty about pending tariffs and their potential ripple effects, including higher material costs, supply chain delays and tighter margins, commercial real estate industry players are focusing on strategic planning and risk mitigation, says Daniel Diaz Leyva at Day Pitney.
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.
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Trade Policy Shifts Raise Hurdles For Gov't And Cos. Alike
The persistent tension between the Trump administration's fast-moving and aggressive trade policies and the compliance-heavy nature of the trade industry creates implementation challenges for both the business community and the government, says Sara Schoenfeld at Kamerman.
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Firms Must Embrace Alternative Billing Models Or Fall Behind
As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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Preparing For Tariffs On Canadian Power In The Northeast
The on-again, off-again risk of import and export tariffs on energy transactions between the U.S. and Canada may have repercussions for U.S. energy stakeholders in the ISO New England and New York Independent System Operator electricity markets — but there are options that could help reduce cost impacts, say attorneys at Husch Blackwell.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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Mitigating Tariff Risks For Healthcare In US And Canada
Healthcare stakeholders should take steps to evaluate the impact of cross-border tariffs, as the historically strong ties between Canada and the U.S. demonstrate the potential for real disruption and harm to the healthcare industry in both countries, say attorneys at Norton Rose.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.