The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
By Danish MehboobMultinational companies, including ExxonMobil and Microsoft, are supporting a corporate-friendly US carbon tax with trade-offs where they pay more tax in exchange for tax certainty, including protection from emission disputes.
By Alex M. ParkerCloud-computing transactions should be considered services, rather than a lease of property, according to long-awaited regulations proposed Friday by the U.S. Treasury — rules that could significantly affect how the income is classified under international provisions of the federal tax code. The rules generally confirm how companies have already been handling income from services such as digitally streamed content or web hosting, but they leave to a future regulatory package the trickier issues of how taxpayers should determine the exact sourcing.
By Zack BukrykSen. Rick Scott (R-Fla.) on Monday called for tax cuts to offset the costs to American consumers of tariffs on Chinese goods during a CNBC appearance. “Anything we raise in tariffs, we should give back to the rank and public in tax reductions,” Scott said Monday on CNBC’s “Squawk Box,” acknowledging the “short-term pain” from the ongoing trade war between the U.S. and China.
Thomas Horst continues his assessment of the effect the Tax Cuts and Jobs Act has had on the effective tax rates of large U.S. nonfinancial corporations based on information corporations provide in the financial statements they include with their annual SEC Forms 10-K.
The Norwegian government has proposed amended intragroup contribution rules to comply with a ruling by the European Free Trade Association Court, which held that the regime’s residence restrictions violate the right to freedom of establishment.
The Singapore Ministry of Finance issued a summary of responses to its consultation on proposed income tax changes that would, among other things, increase the deemed expense ratio and clarify the revocation of tax incentive awards.
By Stephanie Bodoni
Apple Inc.’s 13 billion-euro ($14.4 billion) battle with the European Union reaches the bloc’s courts next month in a hearing set to throw the spotlight on antitrust commissioner Margrethe Vestager’s crackdown on tax deals doled out to big companies.
By Peter Menyasz
Canada plans to hike taxes on stock options that top-paid executives receive from large companies. The changes proposed in draft legislation would bring Canada’s tax treatment of stock options more in line with U.S. tax treatment of options and restore the tax break’s focus on helping small companies, like start-ups.
The U.S. Chamber of Commerce says the French digital services tax is the result of unsound tax policy, but it has recommended dispute proceedings at the WTO rather than tariffs on French imports.
While Treasury’s proposed rules for characterizing cloud computing transactions contained no big surprises, some practitioners say the draft sourcing rule for sales of digital content could present big problems for some foreign companies.
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