G20 endorses a global minimum tax, but falls short on climate change Leaders at the G20 Summit in Rome formally backed a 15% global minimum tax, arguably the only concrete outcome from the summit alongside weak discussions on climate change and debt... By Danish Mehboob November 01 2021
European countries agree to withdraw DSTs in compromise with the US Austria, France, Italy, Spain, and the UK, have agreed to repeal unilateral measures targeting technology companies. The deal introduces a tax credit for companies facing digital services taxes (DSTs) ahead... By Danish Mehboob October 22 2021
Ireland and other holdout countries agree on pillar two at 15% Ireland, Hungary, and Estonia agree to a global minimum corporate tax rate of 15%, but a US political divide over the global intangible low taxed income (GILTI) regime threatens a... By Danish Mehboob October 08 2021
Rising audit activity in APAC will test MNE TP narratives Tax professionals from ITR’s Asia Tax Forum shared some approaches to long-term audit defence as audit activity increases in Australia, India, and other major supply chain jurisdictions in Asia. By Danish Mehboob September 20 2021
US Treasury officials call on Congress to increase GILTI to 21% Top US Treasury officials are calling for Congress to raise the minimum effective corporate tax rate to 21%. However, US businesses fear this policy change could put them at a... By Danish Mehboob September 10 2021
APAC tax receipts to grow as countries target e-commerce activities Tax professionals face higher tax burdens in Australia, India, and other Asia-Pacific (APAC) countries that are bringing more e-commerce activities into the scope of digital services taxes (DSTs) and royalty... By Danish Mehboob September 06 2021
This week in tax: JPMorgan reaches settlement in French case This week JPMorgan agreed to pay €25 million ($29.6 million) as part of a settlement with the French government over allegations that the company helped Wendel executives commit tax fraud. By Danish Mehboob & Josh White & Anugraha Sundaravelu September 03 2021
US Congress seeks TCJA changes ahead of global minimum tax rate The US Senate Finance Committee is proposing modifications to international provisions in the Tax Cuts and Jobs Act (TCJA) to support the OECD’s pillar two proposal for a global minimum... By Danish Mehboob August 27 2021
This week in tax: UK set on tax data grab This week the UK tax authority HM Revenue and Customs (HMRC) moved to collect yet more data from taxpayers in preparation for the post-pandemic future. By Danish Mehboob & Josh White & Alice Jones August 27 2021
ECA calls for higher evidence standards in state aid investigations The European Court of Auditors (ECA) warned the European Commission against depending on complaints to pick-up state aid breaches if the shortcomings in the Directive on Admistrative Cooperation (DAC) framework... By Danish Mehboob August 23 2021
