International
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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.
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April 14, 2025
Dutch, Germans Look To Update Remote Worker Tax Rules
The Netherlands and Germany are looking to update their tax treaty to allow cross-border employees to work from home for a certain amount of time before their home country can levy income taxes, the Dutch government said Monday.
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April 14, 2025
German Court Convicts Man Connected To €100M VAT Fraud
A German federal court convicted a man connected to a €100 million ($113.5 million) value-added tax fraud scheme involving services that let users make phone calls via the internet, the European Public Prosecutor's Office said Monday, tagging the individual with €7.3 million in dodged taxes.
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April 14, 2025
DOJ Resists Airing Full ICE Pact On Taxpayer Data Sharing
The U.S. government objected Monday to releasing an unredacted copy of a tax-information-sharing agreement between the IRS and immigration enforcement agencies sought by groups seeking to block the disclosure, telling a D.C. federal court that it would reveal sensitive information and law enforcement techniques.
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April 14, 2025
EU Not 'Sitting Back' With US Tariffs, German Official Says
"Simply sitting back" isn't an option for the European Union in response to wide-ranging tariffs imposed by President Donald Trump's administration, Germany's finance minister said Monday in defense of the bloc's countermeasures.
Expert Analysis
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6 Pointers For Attys To Build Trust, Credibility On Social Media
In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.
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US-Chile Tax Treaty May Encourage Cross-Border Investment
Provisions in the recently effective U.S.-Chile bilateral income tax treaty should encourage business between the two countries, as they reduce U.S. withholding tax on investment income for Chilean taxpayers, exempt certain U.S. taxpayers from Chilean capital gains tax, and clarify U.S. foreign tax credit rules, say attorneys at Kramer Levin.
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A Post-Mortem Analysis Of Stroock's Demise
After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.
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SG's Office Is Case Study To Help Close Legal Gender Gap
As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.
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Reimagining Law Firm Culture To Break The Cycle Of Burnout
While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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Cayman Islands Off AML Risk Lists, Signaling Robust Controls
As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.
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The Legal Industry Needs A Cybersecurity Paradigm Shift
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.
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As Promised, IRS Is Coming For Crypto Tax Evaders
The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.
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5 Reasons Associates Shouldn't Take A Job Just For Money
As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.
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The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Employee Experience Strategy Can Boost Law Firm Success
Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.
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6 Practice Pointers For Pro Bono Immigration Practice
An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.
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Lessons From Country Singer's Personal Service Saga
Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.