International taxes

In a down economy, international planning is even more important.

Richard Branson moved assets from the U.S. to the British Virgin Islands, highlighting his use of tax havens at a time one of his businesses sought a state bailout because of the coronavirus pandemic.

The Internal Revenue Service is giving foreign banks and financial institutions more time to file information about U.S. taxpayers with overseas bank accounts because of the coronavirus pandemic.

Some common planning techniques have emerged to maintain favorable IP tax rates.

One strategy being used across international regions is to utilize value-added tax measures as a flexible and effective response to the economic slowdown.

Here are some of the significant disclosure items that are either already required, or will be required, for next filing season.

The Internal Revenue Service is giving holders of foreign retirement trusts an exemption from some of the information reporting requirements, along with the abatement of penalties.

For U.S. firms advising clients who sell internationally, the evolving tailwinds suggest the rewards of a U.S.-U.K. bilateral deal could be major.

The region with the highest taxes in the world is weighing how to use them in the fight against climate change.

A brewing fight about which country has the right to tax some of the world’s most profitable companies, including Facebook Inc. and Alphabet Inc.’s Google, could devolve into a multi-front trade war, regardless of whether President Donald Trump is still in the White House.

The Tax Cuts and Jobs Act made the most far-reaching changes in the Tax Code in over 30 years, but it’s far from the last word on tax reform.

European finance chiefs arrived at a meeting of their global peers in Riyadh demanding the urgent creation of a new global tax system for the 21st century that would capture the profits of tech multinationals. U.S. Treasury Secretary Steven Mnuchin responded: it’s not that simple.

Even though each digital service provider differs from the next, all DSPs are forced to navigate a complicated, evolving and non-harmonized set of tax rules that govern their businesses around the world.

Leaders from the service’s Criminal Investigation unit and tax authorities from Australia, the U.K., Canada and the Netherlands met in Australia this week to set priorities in the fight against international tax crimes.

Spain will introduce a digital services tax at the end of the year that would hit the revenue of companies such as Facebook Inc. and Alphabet Inc.’s Google in a move likely to draw the ire of the U.S. administration.

Mark Zuckerberg for the first time said he supports efforts to create a global digital tax that would ultimately raise the amount Facebook Inc. pays to foreign countries, in a move that may boost efforts to put a new levy in effect by year-end.

Sen. Ron Wyden, D-Ore., the top Democrat on the Senate Finance Committee, and Sen. Sherrod Brown, D-Ohio, have introduced legislation to block the Treasury Department from providing a way for multinational corporations to choose the lowest available tax rate.

Updating global tax rules could boost government revenue by as much as $100 billion, the Organization for Economic Cooperation and Development said Thursday in an effort to spur complex negotiations between world powers.

The threat of a new transatlantic trade war diminished after 137 countries agreed to continue negotiations aimed at creating rules for taxing multinational technology companies that receive foreign revenue.

About 135 of the world's countries are negotiating a radical change to the rules about where and how much multinational companies pay in taxes.