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Daily Tax Report: International

EU Top Court Upholds Tax Information Reporting Rules

The European Court of Justice upheld Monday EU-wide tax reporting rules that require details from intermediaries involved in the design, marketing or operation of potentially aggressive cross-border tax arrangements.

Chile Official Says Tax Bill to Pass in September: La Tercera

Chile is dialing back ambitions for its income tax reform plans that it aims to approve during September, the country’s finance minister said in an interview published on Sunday.

G20 Urges Countries to Wrap Up Global Tax Deal Negotiations

The G20 finance ministers have called on countries to wrap up negotiations on the global tax deal and implement agreements.

India Won’t Adopt Minimum Tax Until Global Deal Finalized

India is awaiting a final agreement among negotiators of the overall global tax deal before implementing the minimum tax, according to Ravi Agrawal, chairman of India’s Central Board of Direct Taxes.

Revelers celebrate Canada Day outside the Supreme Court on July 1, 2024

Broader Canada Tax Court Powers Sought After High Court Ruling

Tax lawyers in Canada are pushing the government to expand the jurisdiction of the country’s Tax Court after a pair of high court rulings confirmed that tax disputes, including transfer pricing challenges, must be adjudicated in two different tribunals.

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Michigan Business Groups Ask Court to Invalidate Disclosure Law

Several Michigan business associations urged a district court to rule that a law requiring entities to disclose their beneficial owners to the federal government is unconstitutional because they say it impermissibly affects noncommercial entities and gathers evidence without a warrant.

Reeves Hints Tax Rises Needed to Fill £22 Billion Black Hole

Rachel Reeves announced a slew of measures to shore up the UK’s public finances as she accused the previous Conservative government of running up a £22 billion ($28.3 billion) black hole, and signaled she may have to raise taxes at the budget in the autumn to help balance the books.

Will the Global Minimum Tax End the Race to the Bottom?

In 2021, 137 countries agreed on a global minimum corporate tax rate of 15% for big global companies. This video explains why countries felt such a tax was needed and how it will work.

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Netherlands Gazettes Law Ratifying DTA, Protocol for Curacao With Malta

The Dutch Official Gazette July 25 published a law ratifying the DTA and protocol with Malta, for the benefit of Curacao, signed Nov. 18, 2015. The agreement incorporates the minimum ...

Hong Kong Tax Agency Issues Circular Extending Filing Deadline for Block Extension Regime

The Hong Kong Inland Revenue Department July 25 issued a circular extending the filing deadline under the block extension regime, to Aug. 29 from Aug. 15, for 2023-2024 profits tax ...

Gibraltar Parliament Considers Income Tax (Amendment No. 2) Bill 2024

The Gibraltar Parliament July 25 accepted for consideration Bill No. B. 23/24, the Income Tax (Amendment No. 2) Bill 2024, to amend the Income Tax Act 2010. The bill includes ...

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