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Tax-News.com: LLB-Switzerland Signs US Non-Prosecution Agreement

On August 5, 2019, the US Department of Justice announced that Swiss bank LLB Verwaltung (Switzerland) AG has agreed to pay a penalty of USD10.6m to resolve a case in which it was accused of helpin...

Tax-News.com: IRS Responds To Altera Ruling On Cost Sharing Arrangements

On July 31, 2019, the United States Internal Revenue Service issued a memorandum for all Large Business and International Division employees informing them of the withdrawal of a directive regardin...

Tax-News.com: US Senators Urge 'Fairness' Change To Capital Gains Tax Calculations

A group of 21 Republican members of the US Senate have signed a letter to the Treasury Secretary urging him to amend how capital gains tax liability is calculated....

Tax-News.com: Bulgaria Approves CbC Exchange Agreements With US

Bulgaria's Council of Ministers earlier this month approved two agreements with the United States allowing for the automatic exchange of country-by-country transfer pricing reports....

Tax-News.com: IRS Clarifies FTC Rules For French Social Taxes

On July 19, 2019, the United States Internal Revenue Service updated its webpage on foreign tax credits to clarify that it will not challenge foreign tax credit claims involving certain French taxe...

Tax-News.com: IRS's New Enforcement Initiatives Are Aimed At Individuals

On July 19, 2019, the United States Internal Revenue Service Large Business and International Division announced six additional compliance campaigns....

Tax-News.com: G7 Backs OECD In Push For Global Digital Tax Response

G7 finance ministers have said that there is an urgent need to address the tax challenges posed by the digitalization of the economy. ...

Tax-News.com: US Senate Approves Changes To Four Double Tax Pacts

The United States Senate has approved protocols to four existing bilateral double tax avoidance treaties that have been pending in the chamber for as much as a decade....

Tax-News.com: IRS Provides Additional Transition Tax Guidance

On July 16, 2019, the United States Internal Revenue Service announced the publication of additional information to help taxpayers meet their filing and payment requirements in respect of the Secti...

Tax-News.com: US Senate To Vote On Tax Treaty Protocols

The United States Senate could soon approve ratification of four long-pending double tax avoidance treaty protocols....