International Tax News Blog
  • Extending Carbon Taxes to All Emissions Would Boost Revenue: OECD

    BloombergBy Isabel Gottlieb

    Countries are far from doing enough to tax carbon emissions, especially outside of road transport, the OECD said.

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    By Isabel Gottlieb, posted on Thursday October 17, 2019
  • OECD lays foundation for fairer taxing rights

    Financial TimesBy FT Analyst

    Proposals from the OECD, a forum for research and debate among mostly rich countries, provide a promising basis for a new model. They would give governments a “tax right” over the profits of consumer-facing businesses depending on the share of sales within their territory.

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    By FT Analyst, posted on Sunday October 13, 2019
  • OECD presents 'unified approach' to profit allocation​

    International Tax ReviewBy Josh White​

    The OECD has put forward a proposal to apply a new formula to residual profits in its digital tax report. The organisation hopes this compromise will resolve the impasse, but companies don’t expect radical change.​

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    By White, Josh, posted on Sunday October 13, 2019
  • Switzerland Drops Off EU Tax Gray List After Reforms​

    Logo - Law 360By Matt Thompson​

    European Union leaders confirmed Thursday that Switzerland would be coming off the bloc’s “gray list” after passing tax reforms to bring it into line with international standards in May. The United Arab Emirates will be coming off the black list, and the Marshall Islands has been moved from the black to the gray list, ministers confirmed at a meeting of the EU’s economic and financial affairs council. Albania and Serbia, which are both in the formal process of joining the EU, have also both dropped off the gray list, along with Costa Rica and Mauritius.​

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    By Thompson​, Matt, posted on Sunday October 13, 2019
  • IRS Clarifies Tax Treatment Of Crypto Hard Forks, Airdrops​

    Logo - Law 360By Amy Lee Rosen ​

    The splitting of a cryptocurrency blockchain under a "hard fork" does not create taxable income if no new cryptocurrency is received, but taxable income is generated by "airdrops" that deliver new cryptocurrency, the IRS said in guidance released Wednesday. The guidance came in the form of a revenue procedure and set of frequently asked questions addressing how virtual currency holders must report cryptocurrency transactions to the Internal Revenue Service and the calculation of gains and losses and tax basis in cryptocurrencies. The guidance also addressed the tax treatment of cryptocurrency received for services.​

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    By Rosen, Amy Lee, posted on Sunday October 13, 2019
  • Tech Giants Shift Profits to Avoid Taxes. There's a Plan to Stop Them.​

    NYT logoBy Jim Tankersley​

    Digital tax dodgers, take heed: International leaders have advanced a plan to prevent large multinational companies like Apple, Facebook and Amazon from avoiding taxes by shifting profits between countries. It’s an effort to de-escalate a global battle over how to tax the digital economy. The framework proposal, released Wednesday by the Organization for Economic Cooperation and Development, would allow countries to tax large multinationals even if they did not operate inside their borders.​

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    By Tankersley, Jim, posted on Sunday October 13, 2019
  • EU Competition Chief: Ready to Act on Digital Tax​

    NYT logoBy The Associated Press​

    EU Competition Commissioner Margrethe Vestager says the bloc should agree on a tax to ensure global digital companies pay "their fair share" in Europe. Vestager, who has been designated to continue her work in the new European commission, said during her confirmation hearing by EU lawmakers that "we want these taxation rules to be based on a global agreement. But if that's not possible by the end of 2020, then we are prepared to act."​

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    By The Associated Press, posted on Sunday October 13, 2019
  • Italy Set to Renew Tax Scheme to Spur Investment​

    NYT logoBy Reuters

    Italy plans to renew corporate tax breaks to support investments in innovation and widen the measures to include spending on environmentally friendly projects, Economy Minister Roberto Gualtieri said on Monday. Italy's new government, made up of the anti-establishment 5-Star Movement and the centre-left Democratic Party, has promised an expansionary 2020 budget to try to revive chronically stagnant growth in the euro zone's third largest economy.​

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    By Reuters, posted on Sunday October 13, 2019
  • The Geometry Of International Tax Planning After The Tax Cuts And Jobs Act

    Logo SSRNBy Michael P. Donohoe (Illinois), Gary A. McGill (Florida) and Edmund Outslay (Michigan State)

    The authors provide a method to estimate the GILTI tax from a U.S. MNC’s financial statements when such information is not publicly disclosed and illustrate the ETR and GILTI tax effects for a small sample of public firms after the TCJA, and discuss some likely changes in international tax planning going forward.

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    By  Michael P. Donohoe (Illinois), Gary A. McGill (Florida) and Edmund Outslay (Michigan State), posted on Sunday October 13, 2019
  • Taxing Tech: The Future of Digital Taxation

    Logo SSRNBy Lilian V. Faulhaber

    The article introduces the larger context of the controversy over digital taxes, and considers the likelihood of countries reaching an international solution. It acknowledges that an effective international solution, where countries agree to the necessary technical details and not just to high-level principles, is unlikely given that many countries now benefit from the current system and concludes that, if countries cannot agree to real international reform, the international tax system will face many more years of countries imposing a cascade of inconsistent and overlapping digital tax measures on tech companies.

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    By Lilian V. Faulhaber, posted on Sunday October 13, 2019

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