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International Trade Tax General Business

Read need-to-know updates, commentary, and analysis on International Trade issues written by leading professionals.

The Taxation (Cross-border Trade) Bill and trading under WTO rules

by DLA Piper on

The Taxation (Cross-border Trade) Bill was introduced in the House of Commons on 20 November 2017. It will have to be passed by both Houses before it becomes law, and, as with other key pieces of Brexit legislation, including...more

Major tax bill clears U.S. Senate by 51-49 margin, Part I

by Moskowitz LLP on

A 500-page long Republican tax bill, with numerous and significant last minute changes – as well as some illegible handwritten edits in the margins – cleared the U.S. Senate in the early hours of Saturday morning, by a 51-49...more

Five Things to Know about the Tax Cuts and Jobs Act

Even with the bill still in Conference, here are some things businesses should follow closely. Both House and Senate Bills call for deemed repatriation of accumulated foreign profits at reduced tax rates. ...more

U.S. Tax Reform in Final Stretch

by Hogan Lovells on

This past week, on 1 December, the Senate voted 51-49 to advance its version of U.S. tax reform legislation. This sets the stage for a conference committee process to occur over the next two weeks, in which the Senate and...more

Federal Tax Reform: An Analysis of the House and Senate Bills

by Ballard Spahr LLP on

As we are sure you know, both the U.S. House of Representatives and Senate have passed their own versions of tax legislation, known as the Tax Cuts and Jobs Act. The two different bills will be reconciled in a conference...more

Federal Tax Reform: Side-by-Side Comparison of the Senate and House Approved Bills, Plus the Big Picture

by Ballard Spahr LLP on

Last updated December 5 - The Senate Finance Committee released a detailed description of the Senate's tax reform bill, titled the Tax Cuts and Jobs Act, on November 9. The Committee has not released the text of the bill,...more

Recent Developments in Transfer Pricing and the Taxation of Multinational Companies in Australia

by Jones Day on

As part of a wide-ranging crackdown on multinational tax avoidance, the Australian Federal Government and the Australian Tax Office have introduced significant reforms to the country’s transfer pricing regulations. The...more

Paradise Papers: The Latest Offshore Leak

by Jones Day on

Hackers leaked approximately 13.4 million confidential client documents from Appleby, Estera, and Asiaciti Trust to the International Consortium of Investigative Journalists....more

Asset Management Regulatory Roundup - November 2017 - Issue 11

by Dechert LLP on

A compact summary of the most recent regulatory and tax developments relevant to the UK asset management industry. This issue includes details on ESMA’s updated Q&As on the key information document requirements for PRIIPs;...more

What would happen to the value of cryptocurrencies if Exchanges had to Issue a Form 1099 on an annual basis?

by Sanford Millar on

The IRS issued a John DOE Summons for records of U.S. account holders of Coinbase, Inc. (“Coinbase”) a cryptocurrency exchange based in San Francisco, California. Coinbase objected to production of the records and a Summons...more

Orrick's Financial Industry Week In Review

CFTC’s Division of Market Oversight Extends Time-Limited No-Action Relief for SEFs from Certain Block Trade Requirements - On November 14, 2017, the U.S. Commodity Futures Trading Commission's Division ("CFTC") of Market...more

Notify the ATO of Your Water Rights: Foreign Register of Water Entitlements is Now in Place

by K&L Gates LLP on

As of 1 July 2017, foreign persons must now register their interests in relevant water entitlements with the Australian Taxation Office (ATO). The Water Register has been combined with the existing register of foreign...more

What If You Are Ineligible For The Offshore Voluntary Disclosure Program? Attorney Proffers versus Quiet Disclosures

by Sanford Millar on

Since the beginning of the current Offshore Voluntary Disclosure Programs (OVDP) in 2009 tens of thousands of U.S. taxpayers have come forward to report previously undisclosed foreign financial accounts. The addition of the...more

Executive Regulation on Value Added Tax in the UAE

by Bracewell LLP on

The United Arab Emirates (“UAE”) Federal Tax Authority has recently published the draft Executive Regulations of Federal Decree Law No. 8 of 2017 on Value Added Tax (the “VAT Law”) which introduces a 5% VAT on the import and...more

EU & Competition Law Update – November 2017

by Bryan Cave on

EU opens investigation into UK tax scheme for multinationals - The EU State aid rules are designed to stop Governments and local authorities giving companies a selective advantage, as doing so would create an unequal...more

Tax Reform Proposals Would Have Significant Consequences for Foreign Multinationals Doing Business Through Affiliates in the...

by White & Case LLP on

Both the House and the Senate tax reform proposals were designed to move the United States toward a territorial tax regime and both proposals contain base erosion protections intended to prevent otherwise taxable income from...more

Comparison of Senate and House Tax Reform Proposals

by Hodgson Russ LLP on

On November 2, Rep. Kevin Brady (R-TX), Chairman of the House Ways and Means Committee, released a proposed bill, titled the “Tax Cuts and Jobs Act” (the “House bill”), which would make major changes to federal income...more

International Tax Issues Are A Major Focus of Newest Launch of IRS Compliance Campaigns in 2017

by M. Robinson & Company, P.C. on

Earlier this year, the IRS Large Business and International division (LB&I) rolled out 13 compliance campaigns to target both individual taxpayers and corporations for examinations on certain tax compliance issues. On...more

The International Tax Impact Of The 2017 Tax Cuts And Jobs Act

We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the international corporate tax landscape. ...more

House Tax Reform Bill Released: Would Cause Major Changes to US Tax System

by Dechert LLP on

The U.S. House of Representatives GOP conference released its long-awaited tax reform bill, the Tax Cuts and Jobs Act (the “House Bill”), on Thursday, November 2, 2017. ...more

A Summary Of The Tax Cut And Jobs Act

On November 2nd, the House Ways and Means Committee released the much anticipated "Tax Cut and Jobs Act" (H.R. 1). If passed, this initial pass at widespread tax reform would trigger the most sweeping changes to the U.S. tax...more

House of Representatives Releases First Draft of Tax Reform Bill

by Jones Day on

The Situation: On November 2, 2017, the House Ways and Means Committee released its first draft of much-anticipated comprehensive U.S. tax reform legislation as the "Tax Cuts and Jobs Act." Chairman Brady’s markup of the bill...more

Federal Tax Reform: The House Tax Bill—Summary and Where Do We Go From Here?

by Ballard Spahr LLP on

House Republicans released their tax bill—the Tax Cuts and Jobs Act—last Thursday. Although its provisions are generally in line with the House Republican Blueprint for Tax Reform released in June 2016 by House Speaker Paul...more

House Ways and Means Committee Releases Proposed “Tax Cuts & Jobs Act”

by Hodgson Russ LLP on

On November 2, Rep. Kevin Brady (R-TX), Chairman of the House Ways and Means Committee, released a proposed bill, titled the “Tax Cuts and Jobs Act”, which is designed to create “more jobs, fairer taxes, and bigger paychecks”...more

The Tax Cuts and Jobs Act

by Proskauer - Tax Talks on

Today, the Republicans in the U.S. House of Representatives released their long-anticipated tax reform bill, entitled the “Tax Cuts and Jobs Act”. While there have been multiple statements from the Republican majority in the...more

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