International tax law
IRS Is Big Winner in Shift of Phillies-Jays Series from Toronto to Philadelphia
Major League Baseball’s decision to move the June 25-27 Blue Jays-Phillies series from Toronto to Philadelphia to avoid the G-20 summit being held in Toronto will cost Phillies ace Roy Halladay, who picthed for the Blue Jays for 12 seasons, $75,000 in additional federal income tax. From the Wall Street Journal: The potential tax hit [...]
Member States Break EU Tax Laws
The European Commission has referred Austria, Germany and Portugal to the European Court of Justice over alleged discriminatory tax provisions, due to their failure to comply with its reasoned opinions. Read the full story
G20 To Defer Bank Tax Debate
US Treasury Secretary, Tim Geithner, has said that the finance ministers of the Group of 20 major economies, at their meetings in South Korea on June 4 and 5, will concentrate on financial regulatory reform, rather than a global tax on the banking system. Read the full story here
OECD And EU Strengthen Tax Cooperation
The Organisation for Economic Cooperation and Development and the Council of Europe have developed a Protocol amending the multilateral Convention on Mutual Administrative Assistance in Tax Matters to bring it in line with the international standard on exchange of information for tax purposes. Read the full story here
Italy Details EUR24bn Fiscal Package
Following the Italian Treasury’s report earlier this month that the maintenance of Italy’s promise to the European Union to reduce its fiscal deficit would require additional budgetary funds, the government has introduced a fiscal package amounting to EUR24bn (USD39.5bn) over the next two years. Given the current difficult European financial situation, the government believes that [...]
Supreme Court won’t review First Circuit’s Textron decision
U.S. v. Textron Inc. and Subsidiaries, (CA 1 8/13/2009) 104 AFTR 2d ¶ 2009-5208, cert denied 05/24/2010 Last summer, in an en banc rehearing (i.e., by the full Court), the Court of Appeals for the First Circuit, in a 3-2 decision, held that a corporation’s tax accrual workpapers aren’t protected by the work product privilege. [...]
Consultation on Double Tax Conventions and the Internal Market: factual examples of double taxation cases
The Commission is launching this public consultation to encourage you to provide factual examples of cases of double taxation that you have encountered in your cross-border activities. By double taxation we mean that two or more Member States tax you on the same income or asset. The consultation concerns taxes paid directly to tax authorities [...]
Public Policy Challenge: Nonprofits Under Attack
In these tough economic times budget shortfalls are rampant among state and local governments, causing bureaucrats to look under every rock, couch cushion and budget line item for more funds. Unfortunately, nonprofit organizations’ property and sales tax exemptions and fee payments may be this year’s couch cushion. Read more here
