Canadian Prime Minister Mark Carney and US President Donald Trump have agreed that the countries will look to conclude a deal by July 21, 2025
The firm’s lack of transparency regarding its tax leaks scandal should see the ban extended beyond June 30, senators Deborah O’Neill and Barbara Pocock tell ITR
A ‘joint understanding’ among G7 countries that ‘defends American interests’ is set to be announced, Scott Bessent claimed
The ‘big four’ firm’s inaugural annual report unveiled a sharp drop in profits for 2024; in other news, Baker McKenzie and Perkins Coie expanded their US tax benches
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Sponsored by Lakshmikumaran & SridharanKaranjot Singh Khurana, Prachi Bharadwaj, and Vrinda Agrawal of Lakshmikumaran & Sridharan analyse the tax deduction challenges arising when employee stock option plans are implemented via trusts -
Sponsored by Gatti Pavesi Bianchi LudoviciPaolo Ludovici and Andrea Iannaccone of Gatti Pavesi Bianchi Ludovici analyse an Italian Supreme Court decision that addresses the tax treaty concept of a fixed base, highlighting concerns over legal certainty and double taxation
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Sponsored by Garrigues SpainRafael Calvo and Adrián Arroyo of Garrigues Madrid discuss a National Court judgment clarifying that interest on equity (JSCP) received from Brazilian entities qualifies for an exemption under the Spain–Brazil double tax treaty
Dolphin Drilling intends to discuss the final liability amount and manner of settlement with HM Revenue and Customs
The UK tax agency reported that the total estimated tax gap for the 2023/24 tax year is £46.8 billion
Burford Capital said it hopes that the US Congress will not ‘set back’ business growth and innovation by introducing a tax on litigation funding profits
The reduction would still ‘leave room’ for pillar two and further reductions would be possible, one expert tells ITR
While pillar one is still alive, it will apply to a smaller group of companies, Brian Foley also told ITR
PwC Ireland has also called for simplifying Ireland’s tax code and a reduction in its capital gains tax in a pre-budget submission
Brazil appears to be adopting protocols to align national taxation with international standards, but recent changes are not immune from criticism, experts tell ITR
Despite a general decline in corporate tax rates around the world, jurisdictions are now more reliant on it than in 1990, a Tax Foundation economist found
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Opinion: US firms can’t hide from value-added services criticism
American advisers are falling short of client expectations when it comes to providing value-added services, but remaining tight-lipped won’t make the problem go away -
Opinion: Pillar two should persevere without Trump’s backing
While the US’s dramatic exit from the OECD’s global tax deal naturally grabbed headlines, Trump’s premeditated move shouldn’t detract from pillar two’s lofty ambitions -
Opinion: UK national insurance burden could boost tax partnership model
Despite fears that the UK’s increase in national insurance contributions could cripple some employers, those aspiring to equity partnership may spy a novel opportunity -
Opinion: UK govt will soon learn that the tax truth hurts
The Labour Party’s hands-off approach to tax during the UK election campaign could be construed as political savviness, but as the October budget looms, reality will settle in -
Opinion: Why tax can be central to the EU’s competitive future
Ursula von der Leyen is under pressure to ensure her new team makes competitiveness a top priority. How tax policy is designed and implemented is crucial, writes Ralph Cunningham
Awards
World Tax global head of research Jon Moore tells ITR how his team spots standout submissions, and gives early statistical insights into this year’s entries
Awards
ITR invites tax firms, in-house teams, and tax professionals to make nominations for the 2025 ITR Tax Awards in the Americas, EMEA, and Asia-Pacific
Awards
The firm also won regional awards for Pro Bono Firm of the Year and Tax Law Firm of the Year
Awards
The firm picked up awards for its work in multiple jurisdictions, while DLA Piper walked away with four individual honours