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OTA & Travel Distribution Update - April 14th, 2017

by Garvey Schubert Barer on

This week’s OTA & Travel Distribution Update for the week ending April 14, 2017 is below. Additional details regarding last week’s long-awaited report on online travel by the European Commission are featured in this week’s...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

There’s been a bit of a stir in the paint world, with Dutch firm Akzo Nobel rejecting a takeover bid from PPG Industries valued at $22 billion. In a statement, Akzo claimed that the offer “substantially undervalues” the...more

2016 Year End Review: Virtual Currency: DOJ and IRS Broadly Seek Virtual Currency Account User Information

by Ballard Spahr LLP on

Under Internal Revenue Code section 7609(f), the IRS may issue a “John Doe” administrative summons to discover the identities of unknown taxpayers. A “John Doe” summons can be a powerful enforcement tool because it allows the...more

The (Border) Adjustment Bureau: Hold On to Your (Imported) Hats

by Goulston & Storrs PC on

Retailers would be wise to pay close attention to the upcoming tax-plan deliberations of the 115th U.S. Congress. A proposal currently being considered would adjust the U.S. corporate tax by making imports a non-deductible...more

China Tax Newsletter - September / December 2016

by DLA Piper on

Welcome to the latest issue of our Tax Newsletter. In this issue we have covered a number of developments and cases in the PRC and Hong Kong from September to December 2016 which could have legal and tax implications to your...more

Registration with the RF tax authorities aimed at payment of VAT by foreign e services providers

by Dentons on

Dentons’ Russia Tax practice would like to remind readers that, starting 1 January 2017, foreign companies providing e-services are required to undergo special tax registration according to the procedure of Clause 4.6 of...more

Cross-border licensing of intangible property: tax and legal issues in the life sciences sectors

by DLA Piper on

Success in the life sciences industry can depend on a company's ability to share knowledge and collaborate with strategic partners while simultaneously protecting from its competitors the valuable information on which its...more

The Chancellor’s Autumn Statement

by Dentons on

It’s that time of the quarter again and Chancellor Philip Hammond’s first (and last) Autumn Statement. It’s also the first Statement ‘post-Brexit’. The focus of the Statement has, as predicted, been on austerity versus...more

Potential for Tax Reform in 2017: Insight from Proposals of the President-Elect and Congressional Republicans

by Proskauer - Tax Talks on

In the U.S. general election held on November 8, 2016, Donald J. Trump was elected to become the 45th President of the United States. Republicans also retained their majorities in both the U.S. House of Representatives and...more

October 2016: International Trade Update

Litigating the First Case of International Economic Cyber Espionage Under Section 337 of the Tariff Act. In what has been described by analysts as the case that “could be the most significant development in U.S. steel trade...more

Romanian tax authorities go public on the first VAT fixed establishment assessment in the pharmaceutical industry

by DLA Piper on

The Romanian tax authorities just issued a press release regarding an audit performed on the activity carried out by the local subsidiary of a multinational pharmaceutical group. The Romanian authorities claim that this...more

New VAT regime for e-services

by White & Case LLP on

On 1 January 2017 the special VAT regime for "electronically supplied services" ("e-services") comes into effect, as introduced by Federal Law No. 244-FZ dated 3 July 2016....more

New rules for vat taxation of e-commerce services in Russia

by DLA Piper on

On 3 July 2016 Russian President Vladimir Putin signed Federal Law No. 244-FZ introducing rules for VAT taxation of e-commerce services in Russia (Law)....more

Import of raw materials and components for manufacturing of medical devices exempted from VAT

by Dentons on

Federal Law No. 225-FZ on Amendments to Part Two of the Tax Code of the Russian Federation dated 30 June 2016 enters into force on 1 August 2016. According to the law, a VAT exemption is granted on import of raw materials and...more

President Signs Law Charging VAT on Services Provided via the Internet

by Dentons on

On 3 July 2016 the President of the Russian Federation signed Federal Law No. 244-FZ on Amendments to Parts One and Two of the Tax Code of the Russian Federation (the “Law”), which enters into force on 1 January 2017....more

Agreement Toward Eliminating Tariffs of High-Tech Products to Take Effect July 2016

by Foley & Lardner LLP on

The European Parliament became the most recent body to ratify an expansion of the expanded World Trade Organization (WTO) Information Technology Agreement (ITA). The deal had previously been committed to and signed by the EU,...more

Global VAT Guide 2016 - Cross border supplies of intangible services, rights and digital content

by DLA Piper on

Focusing on supplies of intangibles, such as services, intellectual property rights and digital content, we consider this Global VAT Guide to be timely, given that revenue authorities throughout the world are increasingly...more

Update on The Panama Papers

The International Consortium of Investigative Journalists (ICIJ) announced that on May 9, it will release selected data purported to be leaked or stolen from the internal records of the Panamanian law firm Mossack Fonseca....more

Tax Newsletter - January / February 2016 (China & Hong Kong)

by DLA Piper on

Welcome to the latest issue of our Tax newsletter. In this issue, we have covered a number of developments and cases in the PRC and Hong Kong which could impose legal and tax implications to your business. In the PRC,...more

Who Are The Likely Targets of the Offshore Law Firm Date Leak?

by Sanford Millar on

The reports of a massive leak of confidential client information from files of the Mossack Fonseca & Co., law firm could have far ranging effects from intelligence, law enforcement and commercial perspectives. The...more

En Banc Federal Circuit Declines to Re-hear Decision Restricting ITC’s Ability to Regulate Electronic Transmissions

by Ropes & Gray LLP on

On March 31, 2016, an en banc Federal Circuit issued a per curiam order declining petitions for en banc review of its November 10, 2015, decision in ClearCorrect Operating, LLC v. Int’l Trade Comm’n (No. 2014-1527), in which...more

GST to be removed from Bitcoin transactions – how best to fix the "double taxing" of digital currency?

by DLA Piper on

The Treasurer, Scott Morrison, recently announced that the Government is committed to working with the FinTech industry on legislative solutions for the GST "double tax" issues that can arise on domestic transactions...more

Massachusetts Net Worth “True Debt” Litigation Moves Forward—Oral Argument Held, Awaiting Decision

by Reed Smith on

With oral argument and briefing complete, the Massachusetts Department of Revenue’s authority to increase the net worth component of a taxpayer’s corporate excise using its “true debt” analysis is under review by the Appeals...more

EU Customs Developments: December 2015

by White & Case LLP on

EU Customs Policy - Union Customs Code Developments – Key Provisions Published - On 29 December 2015, the Implementing and Delegated Acts for the Union Customs Code (UCC) were published in the EU’s Official Journal...more

Draft law: Russian VAT on software license transactions and e-commerce services

by DLA Piper on

On 24 December 2015 a draft law was brought before the State Duma introducing important changes to the VAT taxation of software supply transactions and IT services ('Draft Law'). VAT on e-commerce services supplied to...more

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