International taxes

With the unauthorized publication of the “Panama Papers,” many clients and even some professionals question why companies with no active trade or business even exist.

The Internal Revenue Service has released new guidance on how foreign financial institutions can enter into a Qualified Intermediary agreement with the U.S. under the Foreign Account Tax Compliance Act, or FATCA.

Tax executives at U.S.-based multinational companies are having a hard time adjusting to the new rules demanded by the Organization for Economic Cooperation and Development’s Base Erosion and Profit Shifting plan, also known as OECD BEPS, according to a new survey.

Gilead Sciences Inc.’s profit margin has soared and its tax rate has plummeted since the drugmaker introduced its controversial $1,000-a-day medication for hepatitis C, according to a report by an advocacy group that accuses the company of using accounting gimmicks to stash billions in earnings in tax havens offshore.

U.S. Treasury Secretary Jacob J. Lew is set to meet with European Union antitrust chief Margrethe Vestager this week as she prepares to deliver a final verdict on a probe into Apple Inc.’s tax affairs in Ireland.

Social media giant Facebook is being investigated by the Internal Revenue Service over the value of intangible property it transferred to a unit in Ireland, according to published reports.

The International Federation of Accountants has been trying to build the reach and influence of the accounting profession in emerging markets in Africa, Asia and other parts of the world.

Barcelona soccer star Lionel Messi, the record five-time world player of the year, was handed a 21-month prison sentence for tax fraud by a Spanish court that he’s unlikely to have to serve.

UBS Group AG is fighting a demand that it provide information on French clients to tax authorities, days after Paris prosecutors separately recommended the bank go on trial for helping French citizens evade taxes.

U.S. taxpayers who entered into an IRS program that made it easier to disclose their hidden offshore bank accounts may have thought they put their legal troubles behind them. Instead, prosecutors may try to put some of them in jail for not telling all.

A primer on the int’l tax issues your business clients may face

The Treasury Department and the Internal Revenue Service have finalized a rule requiring U.S. parent companies of large multinational public and private companies to provide financial data to the IRS on a country-by-country basis.

Luxembourg’s criminal court handed out suspended jail terms and fines to former PricewaterhouseCoopers staffers Antoine Deltour and Raphael Halet for their role in the so-called LuxLeaks scandal.

On June 23, the UK population narrowly voted to end its 43-year membership in the European Union.

Regardless of whether you were surprised, overjoyed, dismayed or showed any other emotion (perhaps anger as you saw world markets tank), Brexit is here.

UBS Group AG has ended a legal fight with the Internal Revenue Service, agreeing to hand over records on an American client’s account in Singapore as U.S. authorities seek to move beyond Switzerland in their fight against offshore tax evasion.

A former Credit Suisse Group AG banker pleaded guilty to helping Americans evade taxes, admitting his role after spending the past five years as a fugitive.

The Internal Revenue Service is missing out on imposing approximately $21.6 million in penalties on taxpayers who are denied entry or withdraw from its Offshore Voluntary Disclosure Program, according to a new report.

German Finance Minister Wolfgang Schaeuble said a fresh proposal for a 10-nation European financial transaction tax was a “small step” forward, though doubts remain that a deal can be reached.

This may be the last time you see a reminder that the FBAR (Report of Foreign Bank and Financial Accounts) filing deadline of June 30 is fast approaching. That’s because, beginning in 2017, the annual FBAR filing will coincide with the April 15 income tax filing deadline.