The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
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by Manoj Kumar (Reuters)The prospects of introducing a goods and services tax (GST) in India next April, its biggest tax reform, faded on Friday after federal and state finance officials postponed talks on how to administer the tax after a two-day meeting.
by David Ernick (Bloomberg BNA)As the Organization for Economic Cooperation and Development continues to address base erosion and profit shifting (BEPS) issues, it is important to examine the organization's larger goals and how the processes through which it undertakes its work might impact their achievement.
by Ryan Finley (Tax Notes)Citing the effect of capital requirements and the need to preserve stability in the financial system, the OECD's updated base erosion and profit-shifting report on interest says it may be appropriate to exempt the banking and insurance industries from the interest expense limitations recommended by the original report.
by J.P. Finet (Tax Notes)The European Commission has opened three public VAT consultations addressing the reform of rates 2016 WTD 245-26: Consultation Documents and Responses, a definitive system for business-to-business intra-EU transactions on goods, and a special scheme for small enterprises 2016 WTD 245-28: Consultation Documents and Responses as part of its action plan for creating a single VAT area in the EU. The consultation period ends March 20, 2017.
by Kevin A. Bell (Bloomberg BNA)The European Commission’s decision telling Ireland to retroactively recoup $14.5 billion in unpaid taxes from Apple Inc. sets the stage for a game of tax chess in the European courts that could go on for years.
Public statements from the central protagonists—the commission, Apple and Ireland—show the parties wedded to their legal positions with virtually no chance of settlement. The losing party before the EU General Court will almost certainly appeal the decision to the European Court of Justice.
by Philip Blenkinsop (Reuters)Europe's top court ruled on Wednesday that the European Commission may have been correct in finding tax breaks for Spanish companies on their foreign holdings were illegal.
In a case that may give clues as to how judges will deal with more complex tax cases involving Starbucks (SBUX.O) and Apple (AAPL.O), the European Court of Justice (ECJ) said that the lower General Court had erred in annulling the Commission's decision in 2014.
by Vanessa Houlder (Financial Times)A crackdown on illegal sales of tax-free goods over the internet has fuelled a tenfold rise in the number of online retailers registering for value added tax.
HM Revenue & Customs said 7,185 internet retailers had come forward to register for VAT this year, up from 695 in 2015 as it targeted fraud costing £1bn a year.
by Arthur Beesley (Financial Times)Apple, Ireland and the European Commission have squared off in a new round of conflict over the technology group’s tax affairs, with Brussels accusing Dublin of inconsistent tax treatment of global companies. Margrethe Vestager, EU competition commissioner, charged the Irish authorities with not applying a uniform set of rules in the taxation of non-resident companies.
In a 130-page document published on Monday to support the commission’s demand for Dublin to recoup a record €13bn in back taxes, the Brussels body argued that Ireland issued two tax opinions that gave Apple an ultra-low rate without requiring the iPhone maker to substantiate its claim for such treatment.
by Andrew Velarde (Tax Notes)Robert Stack, U.S. Treasury deputy assistant secretary (international tax affairs), on December 16 strongly condemned European nations for their silence in responding to the European Commission's state aid investigations.
"As disturbing as the approach of the commission has been, the complicit silence of all the other European jurisdictions, their finance ministries, and their tax folks, is even more disturbing," Stack said, although he omitted from his criticism those countries that have been targeted by the commission.
by Alex M. Parker (Bloomberg BNA)The U.S. has finalized a new tax treaty with Norway, a Treasury Department official said.
Both sides have agreed to the initial text, and it is now awaiting signatures before Treasury will send it to the Senate for ratification, Quyen Huynh, associate international tax counsel at Treasury, said at a conference sponsored by the Internal Revenue Service and George Washington University Law School.
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