News & Analysis as of

Multinationals

State Aid in Disguise?—EC Investigates UK Tax Regime

by Jones Day on

The Background: The European Commission has opened an in-depth investigation into a specific provision of the UK-controlled foreign company rules. The Issue: The Commission will investigate whether the UK's so-called Group...more

What Multinational Companies in Argentina Need to Know About Anti-Corruption Now

by Kobre & Kim on

Underscored by the recent contentious presidential and congressional elections, during which corruption was — as it is throughout the region — a hot-button issue, anti-corruption enforcement in Argentina is on the rise....more

Multinational Company in China – Are You Concerned About the Personal Credit System and Privacy Provisions in China? You Should...

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The People’s Republic of China is making progress in implementing its mandatory “social credit system.” Multinational businesses in China should be watchful of this system, and ready for it when it rolls...more

How Well Do Your Anti-Harassment Tools Work Overseas?

by Littler on

The 2017 tsunami of high-profile sex harassment allegations against politicians, entertainers and news reporters has employers rethinking their approach to eradicating workplace harassment. And this issue is global—the news...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

Deemed Dividends Under Proposed Tax Reform

by Miles & Stockbridge P.C. on

2017 tax reform efforts may alleviate adverse deemed dividend tax treatment of foreign subsidiary support for the obligations of U.S. parent companies. Present support is limited to the pledge of 66 ?rds of the stock in...more

Congressional Tax Reform Proposals: Businesses Will Need to Rethink Key Decisions

by Latham & Watkins LLP on

Potential legislation would significantly affect businesses across a variety of sectors. Key Points: ..US House and Senate have each passed comprehensive tax reform legislation. ..Proposals would alter fundamental...more

Tax Residency - Place of Effective Management in South Africa

by Dentons on

The concept of residency is a crucial determinant in establishing a person’s tax obligations in South Africa. Generally, a resident is liable to pay tax on taxable income derived from South Africa and globally, while...more

Australian Tax Update

by DLA Piper on

Introduction and overview The Australian Treasurer, The Hon Scott Morrison MP, on Friday 24 November 2017, released exposure draft legislation to prevent entities that are liable to Australian income tax from avoiding...more

EU Opens Investigation Into UK Tax Scheme for Multinationals

by Bryan Cave on

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 playing field. Say for example, a competitor in one country was given a...more

China's State Secret Laws: What To Do When Trade Secrets Collide with State Secrets

by Kobre & Kim on

Multinational companies doing business in China should treat the sensitive information received from their Chinese partners with special care, particularly if the information originates from a state-owned enterprise (SOE)....more

USCIS Establishes New Five-Prong Test for “Function Managers”

Multinational companies that wish to transfer managerial employees to the United States now have clarification on the criteria required to do so. A new five-prong test adopted by U.S. Citizenship and Immigration Services...more

Worldwide Territoriality: International Tax Proposals Broaden the Base

On November 16, 2017, the House of Representatives passed a much anticipated tax reform bill, titled the Tax Cuts and Jobs Act (the House Plan), which was first introduced on November 2, 2017. The passage of the House Plan...more

Technology companies and transfer pricing

by Hogan Lovells on

What is transfer pricing? In basic terms, transfer pricing is the process by which multinational enterprises go about determining what jurisdictions their global profits are booked in. It’s something they have to do in...more

China tax incentives for advanced technology service enterprises rolled out to the entire nation: key features

by DLA Piper on

The China tax incentives for Advanced Technology Service Enterprises (ATSE) were first introduced in the Suzhou Industrial Park in 2006, then applied to 21 pilot cities in 2014, and subsequently expanded to another 11 cities...more

Enforcing Patents in Brazil: An Injunction Paradise?

In the Americas, Brazil is the second largest country in both GDP and population, and the third in territorial extension. Although the amount of patent litigation in Brazil is rather small in comparison to the U.S., patent...more

Environmental Protection is Enshrined as Official Ideology in China Amid Major Reforms

by Latham & Watkins LLP on

President Xi announces a comprehensive, 14-point reform policy that has long-term implications for companies with business interests in China. Key Points: ..President Xi Jinping has formalized a national commitment to...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

United Nations Continues its Development of a Treaty Imposing Liability on Companies for Human Rights Abuses

by Littler on

An ongoing debate exists regarding the nature and extent to which transnational companies should be held directly and legally liable for human rights impacts. Much of this debate has involved calls for additional regulation...more

South African Revenue Service scrutinizes taxable presence of foreign service providers in South Africa

by DLA Piper on

Foreign service providers are starting to receive requests for information from the South African Revenue Service (SARS) relating to activities that have been conducted in South Africa. During 2016, SARS extended the...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

GDPR Compliance: Think It Doesn’t Apply to You? Think Again: Insights from Nutter’s Seth Berman

Seth Berman, a partner in Nutter’s Litigation Department and a leader of the firm’s Privacy and Data Security practice group, addressed upcoming GDPR compliance standards in Nutter Insights. Seth discussed how broadly the...more

European Commission Opens State Aid Investigation Into Finance Company Exemption From UK CFC Rules

On 26 October 2017, the European Commission (the Commission) opened an in-depth investigation into UK statutory rules that exempt certain financing income earned by foreign subsidiaries of UK corporate taxpayers from UK tax....more

Base Erosion and Profit Shifting Project implementation in Mauritius

by Dentons on

The Organisation for Economic Co-operation and Development (OECD) is an economic organisation made up of 35 member countries, with the aim of encouraging economic progress and world trade. In 2015, the OECD developed the Base...more

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