International Taxation. Legal news and articles for April 22 - 25, 2017

Why Record Numbers of Americans Are Renouncing Their CitizenshipWhat to expect in buyback boom under Trump's tax reformCorporate income tax revenues drop in Missouri, but not because of the economyParsing Trump's Promised Tax Plan, From Rates to DeficitsTax laws are not always 'fair'Why Record Numbers of Americans Are Renouncing Their CitizenshipTrump Laying Down the Law to GOP on Tax Reform?India Initiates $5 Billion Tax Penalty Against Cairn EnergyWhite House officials offer conflicting details of Trump tax planJonglei state lawmakers pass poll tax bill into lawUpdated property tax information now available for Texas taxpayersJim Kenyon: Vermont Law School Professor's Tweet Helped Start 'Tax March'Trump's 'big announcement' on tax to be broad principles: officialHow long should you keep your tax records?Future of United States – Chile Bilateral Tax Treaty Remains Uncertain

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Hotel-motel tax legislation passes Ways and Means
Iowa City Press CitizenMarch 26, 2017

The Iowa House Ways and Means Committee passed legislation last week to allow the Amana Colonies to raise money from a hotel-motel tax. The legislation, which would change who controls hotel-motel tax revenue collected specifically from hotels located ...more »

Tax laws hit working wives
Jakarta PostApril 3, 2017

“They said that I should have made a joint [SPT] filing with my husband, as specified in the 2008 Income Tax [PPh] Law. I protested because my previous tax filings were always fine and I have never been informed about that rule,” Lisa told The Jakarta ...more »

International Taxation. News and Stories

Why Record Numbers of Americans Are Renouncing Their Citizenship
The National Interest Online (blog)April 25, 2017

The Foreign Account Tax Compliance Act requires foreign financial institutions, such as banks, to identify and report to the United States most types of transactions for all American clients. These new regulations are ... The reporting burden and ...more »

What to expect in buyback boom under Trump's tax reform
CNBCApril 25, 2017

The biggest holdings in buyback funds aren't the same companies that have the most offshore cash, and which are expected to benefit most if Trump's expected tax proposal becomes law. Buyback funds pick stocks that have bought back a lot of shares in ...more »

Corporate income tax revenues drop in Missouri, but not because of the economy
KBIAApril 25, 2017

But the state's Acting Budget Director Dan Haug also pointed to the corporate tax law change during an interview with St. Louis Public Radio back in December. Haug, who did not respond to recent calls for comment, said the slide in corporate income tax ...more »

Parsing Trump's Promised Tax Plan, From Rates to Deficits
New York TimesApril 25, 2017

... lobbyists and investors will be parsing every word. The key questions will be whether Mr. Trump is aligned with House Republicans, whether he is keeping his campaign promises and, of course, whether his proposal has any chance of turning into law.more »

Tax laws are not always 'fair'
Independent OnlineApril 25, 2017

Pretoria - A recent tax case demonstrated quite clearly how paying tax under a “statutory obligation” might seem “unfair”, but that there was nothing “unjust” about it. In this case the taxpayer – a company – sold a property for a huge gain, was taxed ...more »

Why Record Numbers of Americans Are Renouncing Their Citizenship
Daily SignalApril 24, 2017

Middle-class Americans living abroad who are fully compliant with U.S. tax laws are losing their mortgages, business bank accounts, and personal banking services. The Foreign Account Tax Compliance Act has unintentionally ruined some Americans' ...more »

Trump Laying Down the Law to GOP on Tax Reform?
Fox BusinessApril 24, 2017

Huizenga says lawmakers are returning to Washington, D.C. with an increased willingness to reach a compromise on tax reform. "(They) have come back saying, 'you know what, we have to set aside some of these other things and adopt what Ronald ...more »

India Initiates $5 Billion Tax Penalty Against Cairn Energy
Bloomberg BNAApril 24, 2017

A retrospective 2012 amendment to India's Income Tax Act came after India's top court ruled that a 2007 offshore restructuring of assets between Vodafone Group and India-based telecommunications company Hutchinson Essar Ltd. wasn't taxable. Following ...more »

White House officials offer conflicting details of Trump tax plan
Washington PostApril 23, 2017

Top Trump administration officials are giving out differing accounts of a tax plan that the president has promised will be released Wednesday, calling into question whether they have ironed out some of the most difficult components of any proposal ...more »

Jonglei state lawmakers pass poll tax bill into law
Sudan TribuneApril 23, 2017

Five years ago, Jonglei state MPs passed poll tax law, targeting people aged 18-65 to pay SSP 100 yearly. Job Mading, 50, one of the resident in Bor, said although the bill has been passed, collection of these taxes would not good as planned, citing ...more »

Updated property tax information now available for Texas taxpayers
Huntsville ItemApril 23, 2017

Property tax exemptions for disabled veterans — The law provides partial exemptions for any property owned by veterans who are disabled, surviving spouses and surviving children of deceased disabled veterans. This includes homesteads donated to ...more »

Jim Kenyon: Vermont Law School Professor's Tweet Helped Start 'Tax March'
Valley NewsApril 23, 2017

“I've always considered myself a journalist with a law degree.” In recent weeks, Taub's follow-the-money instincts have earned her national recognition for hatching the grass-roots “Tax March” on April 15. What started as an impulsive tweet led to ...more »

Trump's 'big announcement' on tax to be broad principles: official
ReutersApril 22, 2017

Under U.S. law, only Congress can make significant tax law changes, though the president often drives the tax agenda by offering legislation. The administration official said, "We are moving forward on comprehensive tax reform that cuts tax rates for ...more »

How long should you keep your tax records?
OregonLive.comApril 22, 2017

Specifically, tax law says that if you under-report your income by more than 25%, the statute of limitations is doubled: The IRS then has six years to decide whether to audit your return. To deal with any questions, you would need to have those six ...more »

Future of United States – Chile Bilateral Tax Treaty Remains Uncertain
The National Law ReviewApril 22, 2017

Recent corporate tax hikes in Chile have further highlighted the need for a United States-Chile tax treaty. Under a new Chilean tax law that went into effect on October 1, 2014, corporate tax rates are gradually increasing and are scheduled to reach a ...more »

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