International taxes

The Tax Cuts and Jobs Act has had major unexpected ramifications around the world; Avalara's Richard Asquith dives into the fallout.

Last week, Medtronic Plc suffered a legal setback in its bid to avoid a $1.4 billion U.S. tax bill — a ruling that may have costly implications for other multinationals battling the Internal Revenue Service over the use of overseas payments to lower their taxes.

Today, there are about 100 single family offices in Russia and as many as 20 multi-family offices. Such firms typically tend to investments, taxes, estate planning and even personal needs such as travel and education.

About a decade after Swiss bank secrecy laws started to crumble under the impact of a U.S. investigation, one of the last large lenders still entangled in the matter agreed to settle the dispute.

Bankers, athletes and celebrities are suing Ingenious Media Holdings Plc, saying that they were misled about investments in the film industry that were later branded tax avoidance by the U.K. government.

Senate Majority Leader Mitch McConnell’s new top economic policy aide has a complicated checklist: oversee implementation of the new tax law and mitigate the damage of impending trade disputes.

There’s bad news for companies that may have accidentally overpaid this year’s "repatriation" taxes on foreign profits: they won’t be getting a refund.

Apple Inc. must still pay 5 billion euros ($5.8 billion) to comply with a European Union back-tax order, nearly two years after the company’s fiscal deals with Ireland were ruled illegal.

Repatriation provisions in the TCJA are hitting companies of all sizes.

It’s easy to be outraged about multinational corporations’ shifting of profits to tax havens, but much harder to figure out how to stop them from doing it without hurting the economy. Evidence exists that curbing tax avoidance opportunities makes these firms move actual jobs, not just accounting profits, overseas.