The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
Archives: July 2019Subscribe
By Danish Mehboob
Companies are starting to explore whether the UK corporate Accountability Network’s latest accountancy framework, which requires tax data to be included in financial accounts for investor analysis, benefits their tax and business strategies.
Finance Minister Bruno Le Maire said on Saturday that France would proceed with taxing revenues of big technology firms and urged the United States not to bring trade tariffs into the debate on how to fairly raise levies on digital services.
The IRS is considering changing its foreign-derived intangible income provisions to allow for the application of the manufacturing rule to licensed intangible property.
After hitting out on Twitter at France's newly enacted digital services tax and arguing that the United States, not France, should tax American tech companies, President Trump hinted at a potential tax on French wines.
New York City intentionally is not conforming to the state’s newly enacted law exempting 95 percent of global intangible low-taxed income from the state corporate franchise tax base, according to a city finance official.
By Vivian Salama and Josh Zumbrun
President Trump promised to take “substantial reciprocal action” against France after the nation’s President Emmanuel Macron this week signed into law a tax on American tech giants like Alphabet Inc. ’s Google andAmazon.com Inc. “France just put a digital tax on our great American technology companies,” Mr. Trump said on Twitter on Friday.
By Joseph Boris
Global drinks giant Diageo expects to make a payment next year of as much as £275 million ($340 million), it has said, to cover a U.K. tax break that the European Union has deemed an illegal subsidy to multinational companies.
By Miranda Green
Members of Congress on both sides of the aisle are introducing competing bills that aim to put a tax on carbon. The push to regulate greenhouse gas emissions come as both Democrats and Republicans face pressure from their constituents, and in some cases the fossil fuel industry itself, to regulate carbon emissions that lead to climate change.To read more go here
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