Tax Law

Recent Posts

Regulators Target 2013 Start for Basel III Rules on Capital, Liquidity
Posted on 30 Nov 2012 by LexisNexis Tax Law Community Staff

[ 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

Duane Morris LLP: New 2012 Offshore Voluntary Disclosure Program; Taxpayer Advocate Criticizes IRS "Bait & Switch"; Current Offshore Enforcement Initiatives
Posted on 25 Jan 2012 by Duane Morris LLP

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

China Tax Planning for Japanese MNEs
Posted on 18 Oct 2012 by McDermott Will & Emery

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

Foreign Tax Credit, Partnerships and Disregarded Entities: The Latest Rules
Posted on 30 Aug 2012 by Rufus Rhoades

[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

LexisNexis® Tax Practice China Service Improvements Announced
Posted on 21 May 2010 by LexisNexis Tax Center

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

Regulators Target 2013 Start for Basel III Rules on Capital, Liquidity
Posted on 30 Nov 2012 by LexisNexis Tax Law Community Staff

[ 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

Should Tax Havens Pay for Bank Bailouts?
Posted on 30 Sep 2009 by Martin A. Sullivan

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

The Satyam - PwC Scandal: The Bleak Road Ahead
Posted on 14 Jan 2009 by Jyoti Dialani

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

Twist in the Satyam - PwC Tale: Two Auditors Detained, Suspended
Posted on 2 Feb 2009 by Jyoti Dialani

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

PwC Served with Notice by Indian Apex Court
Posted on 12 Sep 2008 by Jyoti Dialani

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

Transfer Pricing Abuse Is Job-Killing, Corporate Welfare
Posted on 26 Jul 2010 by Martin A. Sullivan

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

Report: Swiss Banks Eye Tax Pledge for Foreigners
Posted on 16 Nov 2009 by Peter Miller

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

Sorry Margaret, No Tea Parties in London
Posted on 30 Apr 2010 by Robert Goulder

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

Yankee Fans Give Wall Street a Bronx Cheer
Posted on 11 Nov 2009 by Martin A. Sullivan

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

Income From Bio-Analytical and Research Studies in India Exempt from Tax in Absence of PE
Posted on 3 Oct 2008 by Jyoti Dialani

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