Corporate taxes

The Internal Revenue Service moved to ease the tax burdens of private equity portfolio companies and heavily indebted industries.

The iPhone maker’s court victory follows separate criticism that huge EU antitrust fines for Google have made little difference.

For Ireland, a ruling that it didn’t illegally help Apple Inc. is vindication, of sorts.

Apple Inc. won its court fight over a record 13 billion-euro ($14.9 billion) Irish tax bill in a crushing blow to European Union Competition Commissioner Margrethe Vestager’s crackdown on preferential fiscal deals for companies.

Companies that don’t receive tax services from their auditing firms to avoid compromising auditor independence could end up paying more in taxes, at least temporarily, according to a new academic study.

France held firm on its plans to resume collection of a national digital tax that hits technology giants including Amazon.com Inc., Alphabet Inc.’s Google and Facebook Inc., saying it wouldn’t be swayed by threats of U.S. sanctions.

The Internal Revenue Service has released final regulations on deductions for two of the international tax regimes introduced under the Tax Cuts and Jobs Act of 2017: foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI) for U.S.-based multinational corporations.

New data shows the extent to which multinational companies shift profits around the globe to avoid tax, increasing pressure on international efforts to rewrite rules for a digital era, the OECD said.

Apple Inc. will find out next week whether it won the first round of its bid to topple a record 13 billion-euro ($14.7 billion) Irish tax bill imposed by European Union state-aid regulators.

The IRS initiated 71 percent fewer corporate audits this spring compared with the same time period a year ago as the coronavirus pandemic halted many agency operations.