Bankruptcy is a trying time for any company. For a business as large and as complex as Lehman Brothers, the process was and continues to be nothing short of traumatic. Working through the tax implications is a significant part of the work. Catherine Snowdon talks to Darryl Steinberg, managing director and senior tax counsel to Lehman Brothers Holdings and one of his chief advisers, Mike Lippman, managing director at Alvarez & Marsal Taxand
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Experts reportedly discussed extending the safe harbour to 2027 to give countries more time to legislate; in other news, Baker McKenzie and Greenberg Traurig made senior tax hires
Hany Elnaggar examines how Gulf Cooperation Council countries are internalising transfer pricing norms within evolving fiscal systems shaped by both Islamic and international influences
Where a TP study of comparables produces an arm’s-length range, and the taxpayer’s filed position is outside that range, HMRC will adjust to the median by default