International taxes

Amazon.com Inc. was slapped with a European Union order to pay 250 million euros ($294 million) plus interest in back taxes to Luxembourg as the world’s biggest online retailer became the latest U.S. giant to run afoul of the bloc’s tough rules on government subsidies.

On the last page of a nine-page tax plan that calls for slashing business rates, President Donald Trump and congressional Republicans proposed a little-noticed, brand-new tax that may hit companies like Apple Inc. and Pfizer Inc.

The document provides more detail than a number of other tax reform documents that have emerged from the Administration over the past few months, but it still leaves many specifics to be worked out by Congress's tax-writing committees.

The Internal Revenue Service’s Advance Pricing and Mutual Agreement Program is looking for comments on a proposed revision to the template for advance pricing agreements.

The Internal Revenue Service is looking for people who are interested in serving as U.S. members of arbitration boards, along with non-U.S. citizens who would like to serve as arbitration board chairs, for U.S. tax treaties providing mandatory binding arbitration.

The unit will be a separate legal entity, and won’t advise on U.S. legal issues.

Over the past decade, the U.S. government has become much more interested in the ownership of foreign financial accounts.

The European Commission will outline on Thursday different options for taxing digital companies as the 28-nation bloc seeks to raise money from an industry that it says provides less than it should to public coffers.

The South African Revenue Service is considering instituting legal proceedings against KPMG LLP’s local unit for reputational damage after the auditing firm withdrew the conclusions of a report that was used in a police probe against former Finance Minister Pravin Gordhan and led to the removal of senior staff at the agency.

Denmark’s government proposed a broad range of tax cuts that will hit all income groups, make it cheaper to save toward retirement and reduce levies on cars.