International taxes

Bank of New York Mellon Corp. won a contract to be custodian for as much as 13 billion euros ($16 billion) in back taxes that Apple Inc. will pay to Ireland, according to a person familiar with the matter.

Sen. Sheldon Whitehouse and Rep. Lloyd Doggett have proposed legislation in the House and Senate to ensure multinational companies pay the same tax rate on profits earned abroad as they do in the U.S., to counter some of the effects they claim from the Tax Cuts and Jobs Act that Republicans passed last December.

Israel put proposed taxes on church-owned property in Jerusalem on hold after top Christian clerics in the city closed the venerated Church of the Holy Sepulchre to protest the planned levies.

The Church of the Holy Sepulchre in Jerusalem, Christianity’s holiest site, was closed to visitors on Sunday in an unprecedented move to protest proposed Israeli tax and land policies governing church-owned property.

HSBC Holdings Plc said it could face penalties exceeding $1.5 billion stemming from multiple investigations into claims that its Swiss private bank unit helped clients evade paying taxes.

The European Union voiced its concerns again over the impact of Donald Trump’s tax cuts but stopped short of threatening retaliation that could further inflame EU-U.S. tensions.

The Financial Accounting Standards Board released an accounting standards update Wednesday to help companies deal with the stranded income tax effects in accumulated other comprehensive income stemming from the Tax Cuts and Jobs Act.

The Financial Accounting Standards Board is moving forward with a proposed accounting standards update to reclassify the stranded tax effects from the Tax Cuts and Jobs Act of 2017, although at least one investor group has some concerns.

The Internal Revenue Service and the Treasury Department announced changes Tuesday in the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders subject to the transition tax under the Tax Cuts and Jobs Act.

The Trump administration has no formal proposal on the table for a so-called reciprocal tax on imports, according to a U.S. official who sought to clarify whether a levy that risks escalating tensions with key trading partners would be enacted.

The American Institute of CPAs is asking the Internal Revenue Service to provide relief from tax penalties to taxpayers who are required for the first time to file information returns related to Controlled Foreign Corporations.

Tax cuts signed by an America First president are turning out to be a major boon to some of the world’s biggest automakers—except those based in the U.S.

The Internal Revenue Service said Tuesday that fees multinational business taxpayers pay to request a unilateral or bilateral advance pricing agreement will be increasing.

An ex-math teacher turned Marseilles piano-bar manager who claimed links to Corsica’s underworld allegedly spearheaded a 385 million-euro ($478 million) tax scam and spent part of the proceeds on Beverly Hills real estate.

SAP SE Chief Executive Officer Bill McDermott has backed U.S. President Donald Trump’s tax plan, and revealed a $2.4 billion deal for Callidus Software Inc., its biggest acquisition in more than three years.

Since I was at Davos last year there have been some seismic global changes, not least to taxation.

Nigeria’s finance minister plans to drag tax defaulters who don’t make use of an amnesty to court as she seeks funds to plug the nation’s $25 billion infrastructure gap.

President Donald Trump said Friday that U.S. economic growth promoted by his policies would help the world, seeking to square his “America First” agenda with globalism.

The eye-popping $38 billion tax bill that Apple Inc. said it plans to pay on its mammoth pile of accumulated foreign earnings will probably hit federal coffers in an eight-year trickle, not a one-time torrent.

Four more Staff Q&A documents deal with various financial accounting and reporting implementation issues.