[ Editor's Note : This narrative is derived from Taxation of Financial Institutions § 1.12 (Matthew Bender) .] ... Basel III is a global regulatory standard on the adequacy of bank capital and market liquidity requirements agreed upon by... Read More

By Thomas W. Ostrander 2012 Offshore Voluntary Disclosure Program Announced by IRS: Details and Issues On January 9, 2012, the Internal Revenue Service (IRS) announced that it had reopened the Offshore Voluntary Disclosure Program (OVDP) following... Read More

By Cym H. Lowell , Partner Japanese multinational entities with current or future operations in China must plan to address a series of issues. Many of the critical international taxation and transfer pricing issues framed by activities in China are... Read More

[Editor's Note: This narrative is derived from Rhoades & Langer, U.S. International Taxation and Tax Treaties, § 12.02[3][a][ii][B] (Matthew Bender).] The foreign tax credit is the international taxpayer's chief defense against double... Read More

Refinements to LexisNexis® Tax Practice introduced by LexisNexis China are discussed in recent releases by Business Wire and by XooArticles.com . Read More

[ Editor's Note : This narrative is derived from Taxation of Financial Institutions § 1.12 (Matthew Bender) .] ... Basel III is a global regulatory standard on the adequacy of bank capital and market liquidity requirements agreed upon by... Read More

Now the big question that regulators and politicians avoid like the plague is this: after private-sector solutions have been exhausted, and it is agreed a bailout is necessary, how will governments allocate the cost of those bailouts? During the 2007... Read More

Amidst the gloomy world economy and daily news of the global crisis, business closures and rising unemployment, the last thing one needed to hear was a financial fraud of mammoth proportions as the one exposed at Satyam Computer Services Limited, the... Read More

India had not yet recovered from the shocking revelations of the biggest corporate financial fraud in the IT giant, Satyam Computer Service. A fresh development to hit the story is the detention of two auditors in the Indian arm of PwC, who were involved... Read More

PricewaterhouseCoopers (PwC) has been served with a notice by the Supreme Court of India in August to reply as to why it should not pay advance tax on fees charged by it for rendering professional services in India. PwC, a non-resident Indian partnership... Read More

I had the privilege of testifying before the Ways and Means Committee [on July 22nd]. Below is the text of my oral testimony. The official witness testimony can be found here . And the excellent pamphlet by Joint Committee on Taxation is here . Mr... Read More

ZURICH – (AP) Swiss banks are considering asking some foreign clients to sign a pledge declaring they aren't breaking tax laws at home, a Swiss newspaper reported Sunday. The chairman of the Swiss Bankers Association, Patrick Odier, told... Read More

Why is there no equivalent to the Tea Party movement in the United Kingdom?... A cursory review of the tax issues featuring in the May 6 election suggests that, if anything, the Tories are moving decidedly to the center. That's just the opposite of... Read More

Savvy politicians are instinctively anti-intellectual. To win elections, emotion trumps reason every time. That's why in their crafting of financial reforms, Washington types are more likely to pay attention to Yankee fans chanting "Wall Street... Read More

In a ruling which will be welcomed by overseas companies engaged in research and bio-analytical studies in India , the Authority for Advance Rulings (AAR) hastaken a view that fees earned by such companies are not subject to tax if the companies do not... Read More