International Tax News Blog

Archives: April 2018

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  • U.S. Banks Enjoy a 7% Average Reduction in Effective Tax Rate

    Bloomberg By: Wendy Soong (Bloomberg BNA)

    Standard & Poor's 500 banking industry first quarter earnings results concluded yesterday. All 18 banks in the industry group reported higher earnings compared to same quarter last year, in part due to the benefits from the tax plan implemented at the end of 2017. The aggregated effective tax rate of all 18 banks was reduced by 7 percentage points to an average of 19 percent compared to an average of 26 percent a year earlier.

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    By Soong, Wendy, posted on Monday April 30, 2018
  • White House to delay tax plans until after midterm elections

    Financial Times By: Mark Vandevelde (Financial Times)

    The White House will wait until after midterm elections in November before pushing forward with its plans to make last year’s tax cuts permanent, according to Steven Mnuchin, Treasury secretary.

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    By Vandevelde, Mark, posted on Monday April 30, 2018
  • India Will Forge Ahead on Digital Tax - Alone if Necessary: Tax Chief

    Bloomberg By: Siri Bulusu (Bloomberg BNA)

    India will continue to take its own steps to tax the digital economy, building on its equalization levy on digital advertising, unless international consensus is reached, an Indian tax official warned.

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    By Bulusu, Siri, posted on Friday April 27, 2018
  • Tax Cuts Chaos Part II: Whither Section 367(b)?

    Tax Analysts By: Mindy Herzfeld

    The Tax Cuts and Jobs Act (P.L. 115-97) contains several provisions that question the premise of the regulatory authority granted by section 367(b) and how that authority has historically been interpreted by Treasury and the IRS. That’s because it’s no longer clear whether the reorganization provisions of the code still provide an effective tool for taxpayers to avoid U.S. income taxes in a cross-border setting. Whether any of the section 367(b) regulations make sense after enactment of the TCJA is an open question that has mostly escaped public notice.

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    By Herzfeld, Mindy, posted on Monday April 23, 2018
  • New Zealand Announces 12.5 Percent R&D Credit

    Tax Analysts By: Alexander Lewis

    New Zealand’s Labour government, seeking to follow through on campaign promises, has announced that it will propose a 12.5 percent research and development credit beginning in April 2019.

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    By Lewis, Alexander, posted on Monday April 23, 2018
  • EU Stands by Digital Tax Proposals Despite Concerns

    Tax Analysts By: Stephanie Soong Johnston

    The European Commission is standing by its package of proposals to tax the digital economy despite concerns that they should be revised post-U.S. tax reform and also could slow down progress toward a long-term solution.

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    By Johnston, Stephanie Soong, posted on Tuesday April 24, 2018
  • The Effect of U.S. Tax Reform on Cross-Border Investment Between France and the United States

    Tax Analysts By: Zach Pouga and Vanessa Tollis

    In this article, the authors examine the international provisions in the Tax Cuts and Jobs Act generally and then focus on how the changes will affect the tax efficiency of cross-border investment structures involving France and the United States. Many of the conclusions they reach can be extended to apply to investment structures involving the United States and other members of the European Union.

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    By Pouga, Zach; Tollis, Vanessa , posted on Wednesday April 25, 2018
  • Company Supplements Comments on Expense Apportionment to GILTI

    Tax Analysts By: Tax Analysts

    Illinois Tool Works Inc. has supplemented its prior request for guidance on the apportionment of some expenses to global intangible low-taxed income for purposes of the foreign tax credit limitation under section 904(a), providing further details on two issues that the company says are pertinent to the requested guidance.

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    By Tax Analysts, posted on Monday April 23, 2018
  • Tax Cuts and Jobs Act Will Slow Growth, Report Says

    Tax Analysts By: Amanda Athanasiou

    While global economic growth in the second half of 2017 was its strongest since 2010, the U.S. Tax Cuts and Jobs Act is expected to slow that roll starting in 2020, according to the IMF.

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    By Athanasiou, Amanda, posted on Thursday April 19, 2018
  • Germany Mulls EU Digital Tax Plan Amid Growing Business Concerns

    Tax Analysts By: Stephanie Soong Johnston and Teri Sprackland

    Germany will keep domestic business interests in mind while examining the European Commission’s plan to tax the digital economy, a Ministry of Finance spokesman told Tax Analysts. The country's business sector has urged caution regarding the commission's proposals, arguing they could harm domestic industry and escalate trade tensions with the United States.

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    By Johnston, Stephanie Soong; Sprackland, Teri, posted on Thursday April 19, 2018


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