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This week the UK and ITV lost a legal bid to prevent an EU state order to claw back tax revenue from controlled foreign company rules offering multinationals tax breaks. [ABSTRACT FROM AUTHOR]

Female tax professionals from Uber and Intel shared concerns over how to approach the valuation of intangible assets at ITR's Women in Tax Forum. [ABSTRACT FROM AUTHOR]

Global companies had to make transfer pricing adjustments as COVID-19 affected supply chains, an industry event heard. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has worsened the work-life balance for many women tax professionals, said tax directors at ITR's Women in Tax Forum in New York. [ABSTRACT FROM AUTHOR]

Speakers from the World Bank and Astra Space at ITR's Women in Tax Forum said tax authorities must strike a balance between the need to boost tax revenue and collect data. [ABSTRACT FROM AUTHOR]

The UK has opted to raise a 25% levy on the profits of energy companies to fund a relief package for households amid the cost-of-living crisis. Meanwhile, the OECD's plans for tax reform have stalled. [ABSTRACT FROM AUTHOR]

Tax directors must build a case for technology implementation, including with their CFOs, said panellists from eBay, Braze, and Walt Disney at ITR's Women in Tax event. [ABSTRACT FROM AUTHOR]

Tax consultants and in-house tax directors say companies and tax authorities could benefit from the use of blockchain technology to file more accurate TP documentation. [ABSTRACT FROM AUTHOR]

Companies are strained by the burden of multiple reporting standards and transfer pricing (TP) directors are tasked with meeting the demand for more data. [ABSTRACT FROM AUTHOR]

The UK revenue service HMRC has seen its diverted profits tax (DPT) revenue increase during the COVID-19 pandemic due to an increase in profit shifting by British companies. [ABSTRACT FROM AUTHOR]

Tax directors say they are coming under an increasing amount of pressure as transfer pricing audits carried out by tax authorities become more aggressive and detailed. [ABSTRACT FROM AUTHOR]

Brazil's OECD-aligned transfer pricing (TP) system will result in higher initial compliance costs for taxpayers. Complex benchmarking analyses and expanded TP methods add further risks of lengthy disputes, say tax experts. [ABSTRACT FROM AUTHOR]

Brazil will introduce a transfer pricing (TP) system that aligns with OECD standards. The arm's-length principle (ALP) will be its "anchor", while comparability analysis will become the "cornerstone", officials said. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic led to a surge in transactions involving intangible assets. Tax professionals are invited to anonymously share how they managed the transfer pricing (TP) implications and what they would have done differently. [ABSTRACT FROM AUTHOR]

The South Korean Financial Services Commission's KRW 15.4 billion ($12.6 million) fine to global pharmaceutical company Celltrion is a warning to others to comply with accounting standards and transfer pricing rules. [ABSTRACT FROM AUTHOR]

Businesses could face drastic transfer pricing (TP) consequences as Putin's government aims to seize intellectual property (IP) from companies leaving the Russian market. [ABSTRACT FROM AUTHOR]

Chinese tax authorities are making it difficult for multinationals in China to make end-of-year transfer pricing (TP) adjustments, forcing tax departments to be extra vigilant and manage the administrative burden and customs issues differently. [ABSTRACT FROM AUTHOR]

Transfer pricing (TP) teams of multinational enterprises (MNEs) are rushing to collect the necessary documents and data from their tax colleagues worldwide because the 2022 Mexican tax reform gives them less than three months to submit tax reports. [ABSTRACT FROM AUTHOR]

EU finance ministers disagreed over the draft directive to implement the OECD's pillar two plan. The lack of unanimity may hold back the plan for a 15% minimum corporate tax rate. [ABSTRACT FROM AUTHOR]

Global Tax 50 highlights the most influential individuals, organisations and geopolitical events in the tax world. Acting Managing Editor Josh White introduces the 2021-22 edition of the landmark feature. [ABSTRACT FROM AUTHOR]

Tax directors must assess the impact of the Russia-Ukraine war on their transfer pricing (TP) policies as the fallout increases uncertainty over benchmark data and raises costs for businesses. [ABSTRACT FROM AUTHOR]

Businesses face greater transfer pricing (TP) uncertainty due to rising inflation and the implications for cost allocation. The complications of supply chain disruption and rising prices mean datasets are less reliable than ever. [ABSTRACT FROM AUTHOR]

As the Russia-Ukraine war continues, the US considers tougher economic sanctions against Russia and some politicians are wondering if this is the time to reconsider the US-Russia tax treaty. [ABSTRACT FROM AUTHOR]

Multinational enterprises (MNEs) are set to change their approach to benchmark analysis in some jurisdictions after the OECD updated its transfer pricing (TP) guidelines. [ABSTRACT FROM AUTHOR]

Tax industry shows signs of improvement when it comes to gender equality, but female professionals still face significant barriers in their careers in comparison to their male peers, according to an ITR survey. [ABSTRACT FROM AUTHOR]

Crypto exchanges resisting calls for a trading ban on Russia amid the Ukraine war could face a wider crackdown from tax authorities around the world. [ABSTRACT FROM AUTHOR]

Transfer pricing continues to be the most contentious area in tax. ITR reviews three crucial transfer pricing (TP) court rulings concerning such companies as Kellogg India over the application of the arm's-length principle (ALP). [ABSTRACT FROM AUTHOR]

Russia is facing several economic sanctions for its invasion of Ukraine. UK sanctions will depend on action in low-tax jurisdictions such Guernsey and Jersey to restrict Russian capital. [ABSTRACT FROM AUTHOR]

UK Member of Parliament (MP) Margaret Hodge says Britain has become a "jurisdiction of choice for dirty money, kleptocrats, and criminals" in an exclusive interview with ITR. [ABSTRACT FROM AUTHOR]

The Indian government is ambitious to adapt to the blockchain environment by imposing a tax on digital assets. Yet the 2022 budget lacks clear guidance and regulators need robust tools to follow the money. [ABSTRACT FROM AUTHOR]

Despite gaining certainty, UK businesses have faced a more complex compliance burden, supply chain problems and higher tax costs following Brexit. [ABSTRACT FROM AUTHOR]

The US government is weighing up whether to suspend its gas tax of 18.4 cents per gallon of petrol because of rising inflation, despite its commitments to tackle climate change. [ABSTRACT FROM AUTHOR]

Charles Rettig, commissioner of the Internal Revenue Service (IRS), is pushing for the US to impose stricter reporting requirements on crypto-assets such as non-fungible tokens (NFTs) to prevent tax evasion. [ABSTRACT FROM AUTHOR]

In an exclusive conversation with ITR's Leanna Reeves, Logan Wort talks about ATAF's effort to simplify the OECD's pillar one proposal and the programmes' success in collecting more revenue for developing countries. [ABSTRACT FROM AUTHOR]

French finance minister Bruno Le Maire pushed the international community towards a multilateral solution on digital tax by imposing a digital services tax (DST). The OECD reached an agreement partly in response. [ABSTRACT FROM AUTHOR]

The end of the London inter-bank offered rate (Libor) means the world is moving onto alternative rates, but tax directors have to mitigate the impact on transfer pricing (TP) policies. [ABSTRACT FROM AUTHOR]

BP and Shell have reported record-breaking profits as the UK faces a natural gas crisis. The UK government is yet facing more calls for a windfall tax to be imposed on the industry. [ABSTRACT FROM AUTHOR]

Rusudan Kemularia, head of TIWB Secretariat, shares the Tax Inspectors Without Borders (TIWB)'s achievements and upcoming programmes aimed at combatting the problems of tax evasion and illicit financial flows. [ABSTRACT FROM AUTHOR]

In an exclusive interview, Pascal Saint-Amans tells ITR's Leanna Reeves about the OECD's biggest tax headaches, when a legal framework on pillar one and two will be published and why gender bias in taxation needs to be addressed. [ABSTRACT FROM AUTHOR]

The 2022 budget offers key amendments on cryptocurrency taxation, tax compliance, and dividend taxation, but no changes to the equalisation levy. [ABSTRACT FROM AUTHOR]

The UK is heading into an era of high taxes and low growth unless there is a "radical shift" to grant businesses a permanent investment deduction, according to the Confederation of British Industry (CBI). [ABSTRACT FROM AUTHOR]

Kristin Smith, executive director of the Blockchain Association, talks about the US Infrastructure Bill and how the association is determined to challenge policymakers' reporting rules for digital assets. [ABSTRACT FROM AUTHOR]

The Indian government may be about to address key problems with the equalisation levy regime and digital tax reform as part of its 2022 budget. [ABSTRACT FROM AUTHOR]

The International Monetary Fund (IMF) has called on the Japanese government to cut back on emergency spending and consider tax increases to cover the costs of the COVID-19 pandemic. [ABSTRACT FROM AUTHOR]

Finance ministers from Estonia, Hungary and Poland are opposing the EU's plans to implement a global minimum corporate tax rate of 15% by 2023. [ABSTRACT FROM AUTHOR]

The South African Revenue Service (SARS) is pushing for the implementation of advance pricing agreements (APAs) to facilitate the filing of transfer pricing (TP) documentation amid the rise in audits. [ABSTRACT FROM AUTHOR]

Tax justice campaigners say Magnitsky-style sanction regimes in the UK require annual review to measure efficiency against illicit funds. Yet the UK is still dragging its heels on implementing offshore public registers. [ABSTRACT FROM AUTHOR]

Governments around the world are expected to implement OECD plans for digital tax reform, but these plans are far from the only changes on the agenda. [ABSTRACT FROM AUTHOR]

The Omicron wave has produced more supply chain disruption for companies around the world, just as there has been a surge in IP transactions. TP teams have to stay ahead of the pace of change. [ABSTRACT FROM AUTHOR]

This week Scottish oil company Cairn Energy ended its battle with the Indian government in exchange for a refund of more than $1 billion in back taxes. [ABSTRACT FROM AUTHOR]