International taxes

The Big Four firm announced it will provide a range of tax services to HP Inc. in 60 countries.

The final IRS and Treasury rules let taxpayers exclude certain income from their GILTI computation.

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.

The European Union may delay digital tax proposals to give countries move time to hammer out a deal and avert a transatlantic trade war, a top official from the bloc said.

A group of five national tax authorities has been working together for the past two years on cooperating in the fight against tax crimes, with one man pleading guilty last week in Germany to fraud charges involving cryptocurrency.

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.

But they remain attractive to countries looking to countries looking to tax U.S. tech giants and to U.S. states hungry for revenue.

Italy and Spain also offered to limit the scope of a proposed global digital tax, a concession after the U.S. threatened to hit countries with tariffs if they moved ahead with levies on tech companies.

The extension also applies to Americans living abroad who would otherwise generally have had a filing deadline of June 15.

Big Four firm Ernst & Young and its business tax clients at companies across the U.S. and other countries have faced a series of challenges amid the pandemic.

Treasury Secretary Steven Mnuchin withdrew the U.S. from international talks over a digital tax deal after failing to reach an agreement with countries looking to place levies on the revenue of American tech companies, U.S. Trade Representative Robert Lighthizer said.

Some multinational companies can generate additional carryback tax loss relief through transfer pricing planning.

Uruguay will soon be even more welcoming to wealthy foreigners looking for a new home following a presidential decree that makes it cheaper to obtain tax residency in the South American country.

The Regional Leader firm is expanding its international tax expertise in Massachusetts.

The Trump administration is starting investigations into digital services taxes considered by several trading partners from the European Union to India that could lead to tariffs being imposed on the countries’ exports to the U.S.