Tariff Refunds Would Spell Nightmare for Related-Company Deals
The possibility that many of President Donald Trump’s tariffs could be ruled illegal has companies salivating at the chance to recoup tariffs already paid—sometimes stretching well into the millions.
EU Mulls Exempting Small Businesses From Various Tax Rules
The European Commission is considering carving out small and medium-sized companies from many of the EU’s tax rules, including the interest limitation rule and the controlled foreign company rule.
Taxing UK LLPs Would Hurt Growth, Accountancy Group Warns
The UK’s expected employment taxes on limited liability partnerships could lower tax collection as professional services firms would look to restructure themselves, an accountancy group warned Thursday.
Tax Head Calls for Certainty on Global Minimum Tax
The business-friendly provisions in the Republicans’ 2025 tax law are welcome, a tax director for a nutrition company said, but certainty on the global minimum tax is paramount.
EU Case Dismissal Points to Paths for Minimum Tax Disputes
The dismissal of Fugro NV’s appeal against global minimum tax rules Thursday clarifies legal options for companies seeking to contest the rules within the EU legal framework, according to tax practitioners.
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Italy Seizes €1.3 Billion Campari Shares in Tax-Fraud Probe
Italian prosecutors ordered the seizure of around €1.3 billion ($1.5 billion) in shares from the holding company that controls the drinks maker
Tech Platforms Seek Dialogue on Mexico’s New Tax Data Powers
Internet marketplaces and platforms called for discussion with Mexico’s government about measures approved by Congress this week requiring companies to provide real-time tax information and combat false invoices.
Australia Issues Draft Guide for Country-Specific Tax Reporting
Australia issued draft instructions Friday for its upcoming country-by-country reporting requirements, which oblige multinational companies to report tax information publicly.
Delayed Audits Spark Questions Over Birmingham, UK, Bankruptcy
Leading accounting professors are calling for a public inquiry into the bankruptcy declaration of the UK’s largest local authority, after much-delayed audited accounts showed the council had probably not gone bust.
French Lawmakers Reject Wealth Tax Proposals for Budget
US Officials to Skip UN Climate Talks Trump Derided as ‘Scam’
High-level US representatives are staying away from the UN climate negotiations in Brazil, even as President
Phase-In of EU Energy Tax Hikes Pushed Back in Revised Bill
The dates for phased increases in energy tax rates were pushed back further in the latest version of a bill that is meant to revise the way the EU taxes fuel and electricity.
Georgia Land Deserves $61 Million Tax Break, Partnership Says
The Internal Revenue Service is improperly discounting the value of preserving a 271-acre parcel of land in rural Georgia, a partnership said.
Jamaica Catastrophe Bond Has Now Triggered, Government Says
Jamaica’s
Will the Global Minimum Tax End the Race to the Bottom?
In 2021, 137 countries agreed on a global minimum corporate tax rate of 15% for big global companies. This video explains why countries felt such a tax was needed and how it will work.
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Argentine Court to Rule on Winning Vicentin Bidder, Clarin Says
An Argentine court will decide on the winning bid for control of
Stock Bulls Power S&P 500’s Historic Winning Run: Markets Wrap
Perplexity Debuts New AI Patent Tool, Users Eager for Updates
A day after Perplexity AI launched its new agentic patent research tool, the company said its users are calling for more expansive search capabilities beyond prior art queries.
Nvidia CEO Jensen Huang Completes $1 Billion Share Sale
Defunct Crypto Group Axia Seeks US Bankruptcy Court Recognition
Failed digital currency business Axia sought US bankruptcy court recognition of its Cayman Islands-based liquidation and a halt to an investor suit alleging misconduct related to its failed AXIA coin.
Coinbase Targets $2 Billion BVNK Deal for Fresh Stablecoin Push
Leading US crypto exchange
Tax Developments
View MoreEuropean Court of Justice Issues Advocate General Opinion on VAT Rules for Intra-Community Acquisitions, Supplies
The European Court of Justice (ECJ) Oct. 29 issued an Advocate General opinion for Case T-638/24, on VAT rules for intra-Community acquisitions and supplies. The taxpayer, an Austrian company, purchased ...
Greece Parliament Considers Bill to Provide Middle Class Tax Support
The Greek Parliament Oct. 27 accepted for consideration a bill to provide middle class tax support. The bill includes measures to: 1) reduce individual income tax rates for employment income ...
South Africa Gazettes Notice Extending Pillar 2 Filing Deadlines for Notices, GloBE Information Returns
The South African Official Gazette Oct. 28 published Notice No. 6763, extending filing deadlines related to Pillar Two, for the fiscal year commencing on or after Jan. 1, 2024, but ...
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