International Tax News Blog

Archives: October 2018

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  • House's Top Tax Writer Slams U.K. Digital Tax for Aim at U.S.

    Bloomberg By Megan Howard

    House Ways and Means Committee Chairman Kevin Brady (R-Texas) called the U.K.’s new cross-border digital services tax troublesome, saying it would prompt the U.S. to review its own tax and regulatory approaches in global markets.

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    By Howard, Megan, posted on Wednesday October 31, 2018
  • Unbundling Your Way out of BEAT - Can Cost Allocations Make a Difference?

    Bloomberg 

    By Michelle Johnson, Midori Nakamura, Jesal Patel & Salim Vagh

    As companies close their first tax year following the TCJA, many multinational firms are planning around new provisions that will impact their intercompany transactions. One area that is attracting significant attention is the new BEAT provision and how the identification and classification of intercompany expenses can minimize its potential effects. This article will summarize the BEAT provision and discuss tax and transfer pricing considerations when determining the appropriate allocation of intercompany expenses.

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    By Johnson, Michelle; Nakamura, Midori; Patel, Jesal & Vagh, Salim, posted on Wednesday October 31, 2018
  • $405M in Cognizant Funds Tied Up in India Tax Dispute

    Bloomberg By Benjamin Parkin

    IT giant Cognizant Technology Solutions Corp. faces continued troubles over a tax dispute with Indian authorities that has tied up $405 million. India’s tax authority is seeking the equivalent of $455 million in taxes originating from a disputed 2016 share buyback.

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    By Parkin, Benjamin, posted on Wednesday October 31, 2018
  • EU Makes New Offer to Reluctant States on Digital Tax: Document

    NYT logo By Reuters

    European Union finance ministers will discuss next week a watered down proposal on an EU-wide digital tax trying to persuade reticent governments to agree on the plan by the end of the year.

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    By Reuters, posted on Wednesday October 31, 2018
  • Contextualizing the History of Subpart F

    In this report, Ram discusses the history of the enactment of subpart F and reviews crucial documents and ideas that helped shape it.

    Tax Analysts By Vasujith Ram

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    By Ram, Vasujith, posted on Tuesday October 30, 2018
  • Merkel's Adieu Opens Door for Tax Reform Successor

    Bloomberg By Jabeen Bhatti

    A BlackRock Inc. board chairman could usher in sweeping tax reform to Germany following the shocking announcement that Angela Merkel, the country’s chancellor, will step down as party head and not run in 2021.
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    By Bhatti, Jabeen, posted on Tuesday October 30, 2018
  • Beyond U.K., Google and Tech Peers See Rising Tax Tide

    Bloomberg By Nate Lanxon, Natalia Drozdiak & Jeremy Kahn

    The U.K. just joined a growing array of countries telling Big Tech it’s time to pay up. Facebook Inc., Alphabet Inc.’s Google and even Amazon.com Inc. can afford the hit. What they may struggle to absorb is the onslaught of new digital taxes from well beyond the U.K. Nations, regulators and cities are getting bolder about asking tech companies to hand over a portion of profits.
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    By Lanxon, Nate; Drozdiak, Natalia & Kahn, Jeremy , posted on Tuesday October 30, 2018
  • U.K. to Roll Out First-of-Its-Kind Digital Tax

    WSJ logoBy Paul Hannon and Nina Trentmann

    The U.K. said it will move ahead with plans to introduce a first-of-its-kind tax on locally generated revenue by large technology firms—the most concrete attempt yet by an industrialized nation to rewrite the world’s tax code for the digital era.

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    By Hannon, Paul and Trentmann, Nina, posted on Tuesday October 30, 2018
  • Colombia seeks to raise tax on high earners, cut corporate taxes

    Colombia will seek to raise income tax on high earners and lower duties on businesses, among other tax measures, to raise 14 trillion pesos ($4.4 billion) to finance next year’s budget, the head of the DIAN tax agency said on Monday.

    Reuters logo By Reuters

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    By Reuters, posted on Monday October 29, 2018
  • You Say Harmful, I Say Harmless: Countries Take a Closer Look at the FDII

    Ever since the Tax Cuts and Jobs Act introduced the term “foreign-derived intangible income” (FDII) into the popular tax lexicon, there’s been some disagreement about how to pronounce the acronym — so much so that even the national media took note.

    Tax Analysts By Stephanie Soong Johnston

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    By Soong Johnston, Stephanie, posted on Tuesday October 30, 2018


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