International taxes

Treasury Secretary Janet Yellen will argue Monday for a global minimum tax rate for companies as she pushes President Joe Biden’s plans to raise levies on U.S. companies, a person familiar with her remarks said.

The corporate tax-cut party President Donald Trump kicked off will soon be over if his successor proves able to enact proposals to roll back half of the 2017 domestic income-tax reduction and to radically revamp levies on profits earned abroad.

As companies prepare to file for the upcoming tax season, businesses face uncertainty emerging from an enduring pandemic. Further, dealing with multiple jurisdictions’ changing laws, deadlines and requirements can often require a small army of specialists.

When to file on 8821; RMDs and the extension; cloud concerns; and other highlights from our favorite tax bloggers.

The Internal Revenue Service’s Criminal Investigation division is partnering with tax authorities abroad to ferret out signs of tax fraud, targeting financial technology companies and cryptocurrency.

President Joe Biden’s Treasury Department is calling for a “more robust minimum tax” on profits earned by American corporations overseas to remove incentives for companies to shift earnings outside U.S. borders.

A former UBS Group AG executive who is trying to reverse a conviction at a landmark tax trial couldn’t remember the assets managed by his team focusing on French clients out of Switzerland.

Former Credit Suisse Group AG bankers who blew the whistle on their employer for helping wealthy Americans dodge taxes are now urging U.S. authorities to punish the bank beyond the $2.6 billion it paid as part of a guilty plea seven years ago.

UBS Group AG questioned investigators’ dealings with a whistleblower who provided documents and evidence about an event for wealthy clients at the French Open that helped lead to a record 4.5 billion-euro ($5.4 billion) penalty.

Treasury Secretary Janet Yellen added an international tax policy expert to her staff as the U.S. reverses a Trump-era stance over digital taxation of technology companies.

The U.S. has dropped a key demand in negotiations over digital taxation of technology companies such as Alphabet Inc.’s Google and Facebook Inc., lifting a barrier that had raised transatlantic trade tensions and prevented an international deal.

Governments around the world are confronting budget deficits due to the COVID-19 pandemic and corporate tax leaders are worried about higher tax assessments, double taxation, penalties, interest and surcharges.

His story reveals the far-reaching net that continues to entangle individuals and firms who were engaged in so-called Cum-Ex transactions, almost a decade after the dividend-tax practice ended.

With blacked out or blank television screens, front pages and web portals, Poland’s private media companies protested against plans to implement a new advertising tax they say is a disguised government attempt to muffle criticism.

Former investment banker Paul Mora is the first Cum-Ex suspect placed on Interpol’s public list of most-wanted suspects as Germany launched an international search for him in an escalation of its vast tax-evasion probe.

Five international tax enforcement heads, including from the Internal Revenue Service’s Criminal Investigation unit, have been meeting this week to discuss their joint initiatives for combating tax evasion.

The European Union is seeking to overturn Apple Inc.’s victory in a 13 billion-euro ($15.7 billion) tax dispute, saying judges used “contradictory reasoning” when they found that the company’s Irish units weren’t liable for huge payments.

German Finance Minister Olaf Scholz said President Joe Biden’s administration has shown a readiness to clinch an agreement on how to tax global tech companies, potentially overcoming an American block and paving the way for an accord later this year.

U.S. Treasury Secretary Janet Yellen on Wednesday talked with her U.K. and German counterparts about resolving mushrooming disputes over the taxation of internet giants such as Facebook Inc., highlighting the issue as a priority in her initial bilateral calls.

The year ahead will be full of tax uncertainties in the U.S. and internationally, ranging from digital taxes and carbon taxes to possible tax hikes under the Biden administration.