The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
By: John Claypole and Ken Almand
The authors consider the impact of the U.K. tax authority's Diverted Profits Tax so far, and what's ahead for multinationals.
By: Siri Bulusu
Business groups and tech giants want the IRS to clarify new cloud computing tax rules and ensure companies won’t take an unexpected tax hit.
By: Mukesh Butani, Shreyash Shah and Madhura Bhat
The authors look at the proposals for nonresidents announced in the India Budget 2020, including a tax on the digital economy and mandatory withholding on digital transactions, which will have a significant impact on cross-border transactions.
By: Sony KassamThe OECD released long-awaited guidance on how multinationals should price intercompany financial transactions. It marks the first time the OECD has incorporated concrete rules on financial transactions, such as intra-group loans, hedging, and cash pooling, into its transfer-pricing guidelines.
By: Joe Kirwin
European Union finance ministers will give Turkey more time to agree to exchange bank information automatically with all EU members before putting them on the bloc’s tax haven blacklist. On the other hand, the economic bloc plans to put the Cayman Islands on its tax haven blacklist on Tuesday, February 18.
By: Richard RubinU.S. corporations accelerated deductions and deferred income to maximize the benefits of the 2017 tax-rate cut, contributing to a large temporary drop in federal corporate-tax revenue in 2018, according to newly released data.
By: Kimberly A. Clausing
The author argues that TCJA is flawed in five important ways: it generates large deficits that will reduce the ability of the government to fund important priorities in the future; it moves the tax system in a regressive direction; it decreases economic efficiency in some ways, moving the tax system away from optimal design principles; it misses an opportunity to combat profit shifting by multinational companies, changing the character of the problem but leaving its scale largely undiminished; and introduces new sources of complexity. Clausing then suggests both short term and more fundamental ways to reform the tax code.To read more go here
By: Alexandre Mercier
The OECD intends to reach a consensus on the Inclusive Framework by the end of 2020. In light of that goal, the author examines the Framework's concepts, disparate interpretations, and what needs to be done to achieve a consensus.
The EU proposal includes measures that would expand existing information exchange and create new information disclosure rules.
By: Jefferson Vanderwolk
In light of the OECD's preliminary analysis, the author discusses the issue of double taxation under the proposed Pillar Two rules.
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