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‘EU Inc.’ Bill Calls for Streamlined Procedures, Deferred Taxes

A European Commission bill to reform the corporate legal framework would require tax authorities to streamline procedures and defer taxes on options, according to draft seen by Bloomberg.

Colombia’s Petro Plans to Present New Tax, Health Bills in July

Colombian President Gustavo Petro said he plans to present a new tax bill as well as A health reform on July 20 when the new congress meets.

Coca-Cola Says 3M Ruling Applies to Tax Case and IRS Admitted It

The IRS has already acknowledged a recent appellate ruling rejecting the agency’s transfer-pricing position applies directly to Coca-Cola Co.‘s dispute over Brazilian royalty transfer restrictions, the beverage giant told the Eleventh Circuit.

New Minimum Tax Rules Require ‘Offsetting,’ EU Businesses Say

European businesses will need to have other taxes scrapped now that they have signed up to the new global minimum tax agreement, according to BusinessEurope, a trade association.

Hungary Demands Confidentiality in Value-Added Tax Data Exchange

A Hungarian tax official called for stronger confidentiality rules to protect the identities of businesses when tax authorities exchange data to curb value-added tax fraud.

Practitioner Insights

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Spain Aligns Tax Law with Corporate Reality for Property Groups

Xavier Segui

NAX Law

Trump Tariffs Behoove Business to Plan Ahead to Reduce Cost Risk

Jarod Stewart

Steptoe

Five Questions With Olshan Tax Partner Kuang-Chu ‘K.C.’ Chiang

K.C. Chiang

Olshan Frome Wolosky

Tax Developments

France Administrative Supreme Court Clarifies Income Taxation of Payments Received by Beneficiary From Foreign Trust

The French Administrative Supreme Court March 13 issued Decision No. 500318, clarifying the income tax treatment of payments received by a beneficiary from a foreign trust. The taxpayer, a resident ...

European Commission Approves German Federal Regime Under Clean Industrial Deal State Aid Framework

The European Commission (EC) March 5 issued State Aid Case Decision No. SA.121215, approving the German federal regime under the Clean Industrial Deal State Aid Framework (CISAF) to support investment ...

Poland Gazettes Notice Updating EU List of Non-Cooperative Tax Jurisdictions

The Polish Official Gazette March 13 published Notice No. 288, updating the EU list of non-cooperative jurisdictions that aren’t on the list of jurisdictions with harmful tax competition practices. The ...

Latest Stories

Irish PM Comes to Starmer’s Defense During White House Visit

Irish Taoiseach Micheál Martin defended British Prime Minister Keir Starmer after the UK leader was criticized by President Donald Trump for not more fully supporting the war on Iran.

By Catherine Lucey, Josh Wingrove and Hadriana Lowenkron

India’s Top Carmaker to Fight $626 Million Tax Adjustment

India’s biggest automaker, Maruti Suzuki India Ltd., plans to object to a massive proposed tax adjustment it received from tax authorities, according to financial filings Tuesday.

UBS Urges Weaker Capital Reforms as Swiss Decision Nears

UBS Group AG is still seeking to convince the Swiss government to water down its plans for fresh capital requirements on the lender as a decision on the matter is expected soon.

Swiss FBAR Violator Fails in Bid to Overturn $20 Million Penalty

A Swiss native lost his long-running effort to avoid about $20 million in penalties and interest for failing to report his overseas financial accounts to the IRS after a federal judge rejected his due process claim.

Australia Capital Gains Tax Perk Fuels Inequality, Report Says

Australia’s capital gains tax discount could be distorting investment decisions and contributing to wealth inequality, a senate inquiry said Tuesday.

Reeves Floats Plan to Give UK Regions Say Over Tax Funds

Chancellor of the Exchequer Rachel Reeves said she is drawing up plans to give regional leaders in the UK control of some national tax revenues as part of her push to raise economic growth across Britain.

EU to Restart Process to Ratify US Trade Deal After Block

The European Union will restart ratification of its trade deal with the US, setting up the long-delayed agreement for final approval.

Australia Must Overhaul R&D Tax Perks, Government Report Says

Australia must reform its research and development tax incentives or risk wasting taxpayer funds and profit shifting by multinationals, a government-commissioned report warned Tuesday.

Global Digital Tax Talks Must ‘Slow Down,’ US Official Says

The US isn’t in a hurry to come to a multilateral solution on taxing large tech companies, a Treasury Department official said Tuesday.

Incentives Flexibility to Help Countries Adopt Global Tax Deal

A wider range of tax incentives that can be used under a revised global minimum tax deal will help more jurisdictions adopt the framework, a senior OECD official said.

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SEC, CFTC Move to Define Which Digital Assets Are Securities

The Securities and Exchange Commission issued a long-awaited “token taxonomy” on Tuesday, a key step forward laying out which types of digital assets it deems to be securities.

How a Deep State Bureaucrat Became Trump’s ‘Fake News’ Enforcer

Brendan Carr is pointing his MAGA flamethrower at Jimmy Kimmel, Stephen Colbert and the American news media.

SEC Clarifies Application of Securities Laws to Cryptoassets

SEC issues interpretation clarifying how federal securities laws apply to certain cryptoassets and transactions involving them.

CFTC Says Crypto Wallet Software Developer Can Facilitate Trades

The Commodity Futures Trading Commission’s Market Participants Division said it has issued a no-action position in response to a request from Phantom Technologies Inc., a developer of self-custodial crypto asset wallet software, stating that it will not recommend enforcement action against Phantom for failure to register as an introducing broker.