Official Sees India’s Advance Tax Deals Surging to 175 This Year
Advance tax deals on intercompany transactions have continued to increase strongly in India over the past year, an Indian tax official said Friday.
Transfer Pricing Report
IRS Logs Dip in Advance Pricing Agreement Completions Last Year
The IRS saw a dip in completed advance pricing agreements last year after a surge in 2023, according to new data from the agency.
Pfizer Avoided Billions in Taxes on Sales, Democrats Say
Pfizer Inc. reported zero dollars in taxable US profits on its 2019 tax returns, despite selling $20 billion in drugs to US customers that year, Senate Finance Committee Democrats alleged in a new report Thursday.
UN Tax Panel Floats Review of Various Topics in Transfer Pricing
The next iteration of the UN Tax Committee should consider taking up transfer pricing topics like simplification, the handling of intangibles, and intragroup services, committee members said Wednesday.
UK to Offer Advanced Pricing Agreements for IP Development
The UK is offering companies the ability to obtain a binding agreement on their tax positions for the cost, benefit, and development of assets like intellectual property in an effort to increase tax certainty.
Trump Tariff Talk Puts Overseas Pharma Profits in Crosshairs
Tariffs or other measures Washington might take against pharmaceutical giants shifting profits offshore would come with a hefty price tag for an industry whose tax planning has been scrutinized for years.
PRACTITIONER INSIGHTS
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Latest Stories
Trump Hits WilmerHale With Executive Order Over Mueller Ties
President Donald Trump on Thursday issued an executive order against WilmerHale, the fifth major law firm attacked by the White House in the last month.
IRS Logs Dip in Advance Pricing Agreement Completions Last Year
The IRS saw a dip in completed advance pricing agreements last year after a surge in 2023, according to new data from the agency.
Pfizer Avoided Billions in Taxes on Sales, Democrats Say
Pfizer Inc. reported zero dollars in taxable US profits on its 2019 tax returns, despite selling $20 billion in drugs to US customers that year, Senate Finance Committee Democrats alleged in a new report Thursday.
UN Tax Panel Floats Review of Various Topics in Transfer Pricing
The next iteration of the UN Tax Committee should consider taking up transfer pricing topics like simplification, the handling of intangibles, and intragroup services, committee members said Wednesday.
Trump’s Legal Industry Attacks Slammed by Local Bars, Deans
Bar associations and law school deans Wednesday criticized President Donald Trump’s moves to punish lawyers for client work and judges for rulings.
UK to Offer Advanced Pricing Agreements for IP Development
The UK is offering companies the ability to obtain a binding agreement on their tax positions for the cost, benefit, and development of assets like intellectual property in an effort to increase tax certainty.
How Can GenAI Improve My Transfer Pricing Process?
KPMG practitioners analyze some of the challenges and opportunities that firms should consider when deciding whether to use GenAI in the transfer pricing process.
French Tax Authorities Are Using AI to Clamp Down on Tax Fraud
The French government is deploying increasingly aggressive methods to uncover tax fraud, according to a lawyer who specializes in private wealth.
Trump Targets Jenner & Block Via Clients, Widening Big Law Fight
President Donald Trump’s new executive order against Jenner & Block threatens the firm’s relationship with a top client, aerospace and defense company General Dynamics.
Tax Developments
View MoreAustria Gazettes Tax Amendment Act 2024
The Austrian Official Gazette July 19 published Law No. 113, on the Tax Amendment Act 2024, which amends various tax laws. The law includes measures: 1) explaining that specified grants, ...
United Arab Emirates Tax Agency Explains Application of Related Parties Definition Under Corporate Tax Law
The Emirati Federal Tax Authority July 22 issued Public Clarification No. CTP002, explaining the application of the term, “related parties,” under the Corporate Tax Law, where there is a common ...
India Lower House Considers 2024 Finance (No. 2) Bill
The Indian lower house of Parliament (Lok Sabha) July 23 accepted for consideration Bill No. 55/2024, the 2024 Finance (No. 2) Bill. The bill includes measures to: 1) set progressive ...
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