IRS Previews Rules on Exclusions for Foreign-Derived Income

The IRS said Thursday it will issue proposed regulations detailing the breadth of an exclusion created by Republicans’ $3.4 trillion tax-and-spending law for a deduction companies can take on foreign-earned income.

IRS Previews Credit Limit Rules On Previously Taxed Earnings

The IRS released guidance Thursday on when a foreign tax credit limit included in Republicans’ $3.4 trillion tax-and-spending law is applicable to previously taxed foreign-earned income.

Treasury Plans Regs on Transition Rule for Foreign Dividends

The Treasury Department and the IRS intend to issue proposed regulations regarding the transition rule for treatment of certain dividends received by taxpayers from their foreign subsidiaries.

Asians Back Incentives, Global Tax Cooperation, OECD Survey Says

A majority of people in Asia support tax incentives to attract multinational companies and view global tax cooperation as important, according to a newly published survey by the OECD.

Property Data Exchange for Tax Backed by 25 Jurisdictions

Twenty-five jurisdictions Thursday agreed to an OECD-led framework for the automatic exchange of real estate information between tax authorities by the end of the decade.

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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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SpaceX Eyes Record $800 Billion Valuation in Insider Share Sale

SpaceX is preparing to sell insider shares in a transaction that would value Elon Musk’s rocket and satellite maker at as much as $800 billion, people familiar with the matter said, reclaiming the title of the world’s most valuable private company.

Polymarket Is Struggling With a $59 Million Bet About Itself

Traders bet more than $59 million on whether Polymarket would launch its US platform before the end of the year. But a question meant to produce a simple yes-or-no answer has exposed a deeper problem: prediction markets built to resolve uncertainty may struggle with it themselves.

Tax Developments

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Sweden Tax Court Issues Advance Notice Clarifying Dividend Taxation Regarding Corporate Restructuring for Transferring Profits

The Swedish Tax Court Nov. 21 issued Advance Notice No. 19-25/D, clarifying the taxation of dividends regarding two corporate restructuring alternatives for transferring profits between companies. The taxpayer, an individual, ...

Philippines News Agency Announces Reduction in Real Property Taxes for Specified Independent Power Producers

The Philippine News Agency Dec. 3 announced the President’s Nov. 28 signing of Executive Order No. 106, reducing real property taxes (RPT) for specified independent power producers (IPPs) for calendar ...

Norway Gazettes Regulation Setting Asset Valuations, Work-Related Deductions for 2025

The Norwegian Official Gazette Dec. 3 published Regulation No. FOR-2025-12-01-2404, setting asset valuations and work-related deductions for the 2025 tax assessment. The regulation includes measures setting: 1) the asset value ...

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