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Tax-News.com: IRS Issues Final Foreign Tax Credit Regulations

On December 2, 2019, the United States Internal Revenue Service issued final regulations on the foreign tax credit following major changes to the US tax code. ...

Tax-News.com: US Considers Retaliation Against French Digital Services Tax

The United States may impose additional duties of up to 100 percent on certain French products in retaliation for France's digital services tax, which a newly published report by the US Trade Repre...

Tax-News.com: IRS Issues Estate Tax Regulations

On November 22, 2019, the United States Internal Revenue Service issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effe...

Tax-News.com: Costa Rica Ratifies Updated TIEA With US

On November 12, 2019, a law was published in the official gazette of Costa Rica which ratifies the updated Tax Information Exchange Agreement with the United States. ...

Tax-News.com: American Firms Concerned By Canadian Digital Tax Plan

Representatives from US trade and industry associations have voiced concern about a digital services tax proposal floated during the recent Canadian election which they argue will "impose discrimin...

Tax-News.com: New Zealand Tops World Bank's 'Doing Business' 2020

New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes ...

Tax-News.com: Warren Announces US Corporate Tax And Wealth Tax Plans

On November 1, 2019, the presidential campaign of United States Senator Elizabeth Warren (D-MA) published plans for a system of universal Medicare that will be partially funded by tax increases on ...

Tax-News.com: IRS Expands Virtual Currency Tax Guidance

On October 9, 2019, the United States Internal Revenue Service issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency. ...

Tax-News.com: IRS Grants Relief For US Persons Affected By Section 958 Repeal

On October 1, 2019, the United States Treasury Department and the Internal Revenue Service announced a relief for certain US persons that own stock in certain foreign corporations....

Tax-News.com: Sanders Unveils US Wealth Tax

United States Senator Bernie Sanders (D-VT), a leading contender for the Democratic presidential nomination, has proposed a new tax, as well as a series of enforcement measures, targeting America's...