Tax News

The US Internal Revenue Service (IRS) has released the text of an arbitration agreement between the US and Switzerland, in Internal Revenue Bulletin 2020-35, published August 24.

The UK Government has dismissed speculation that it will repeal its digital services tax in a bid to secure a post-Brexit free trade agreement with the United States.

German Finance Minister Olaf Scholz is optimistic that an international agreement on taxing the digital economy will be reached this year.

The OECD has released peer review reports reviewing nine territories’ progress towards implementing the BEPS Action 14 standard, on improving tax dispute resolution.

The United States Council for International Business has called on US authorities to focus its efforts on working with other countries to arrive at an international tax solution to the digitalized economy, rather than tackling countries’ unilateral res…

The Office of the US Trade Representative has announced that the US will impose additional duties of 25 percent on imports of certain French products from next year in response to the country’s decision to introduce a digital services tax.

On July 13, 2020, the US Internal Revenue Service (IRS) issued a progress report on the last two years’ work of the J5 group of five advanced countries, who are working collaboratively to tackle cross-border tax fraud.

US Trade Representative Robert Lighthizer told a congressional hearing on June 17, 2020, that the US Government has withdrawn from international negotiations on new global tax rules for digital companies at the OECD.

On May 19, 2020, the United States Treasury Department and the Internal Revenue Service issued an Announcement which clarifies the interpretation of references in US income tax treaties to the North American Free Trade Agreement once it is replaced by …

On May 15, 2020, the United States House of Representatives approved the HEROES Act, which amends previous COVID-19-related stimulus legislation by changing loss carryback rules and providing further tax support for businesses and individuals.