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The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.

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  • Digital Tax Plans in U.K., Austria, Spain Unmoved by U.S. Rebuff (1)

    Logo: Bloomberg Law

    By Joe Stanley-Smith and Sam Edwards

    Austria, Spain, and the U.K. will not shelve their digital tax rollouts in response to U.S. assertions that they are discriminatory. The U.S. said Thursday it will add the trio to a list of countries it says are discriminating against American companies by taxing the local revenue of internet giants like Google and Amazon. Spain’s digital tax begins on Saturday, while the U.K. and Austrian taxes are already in effect.

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    By Joe Stanley-Smith and Sam Edwards, posted on Friday January 15, 2021
  • OECD Countries Prep for Plan B in Case Digital Tax Talks Fail

    Logo: Bloomberg Law

    By Hamza Ali

    The OECD is trying to get nearly 140 countries to agree to an overhaul of global tax by mid-2021. If that effort fails, a growing number of countries are preparing to launch unilateral measures aimed at tech giants like Facebook Inc. and Amazon.com Inc.

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    By Hamza Ali, posted on Thursday January 14, 2021
  • Will Tax Havens Fall Prey to Global Momentum on Anti-Abuse Tax Initiatives?

    Logo: Bloomberg Law

    By: Anshu Khanna

    In the wake of the global financial crisis of 2007-2008, tax havens became a controversial topic as political leaders zeroed in on low-tax jurisdictions as a source of fiscal instability that aggravated the crisis.

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    By Anshu Khanna, posted on Wednesday January 20, 2021
  • Why the World is Watching

    Logo: Bloomberg Law

    By Amie Ahanchian, Donald Hok, Philippe Stephanny, and Elizabeth Shingler 

    The digital economy is equivalent to 15.5% of global GDP and is growing two and a half times faster than global GDP over the past 15 years, according to the World Bank. This rapid expansion has sparked global debates in many legal and regulatory realms. In the field of international taxation, the debate focuses on whether the current rules are appropriate in the modern global economy, especially regarding the allocation of income and profits among countries for tax purposes or purposes of being potentially subject to tax. 

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    By Amie Ahanchian, Donald Hok, Philippe Stephanny, and Elizabeth Shingler, posted on Wednesday January 6, 2021
  • France Seeks ‘De-Escalation’ from Biden on Trade, Minister Says

    Logo: Bloomberg Law

    By Phil Serafino

    France is open to all signs of “de-escalation” from incoming Biden administration in U.S. on trade disputes over aircraft makers and a digital tax, French Trade Minister Franck Riester says in interview on BFM Business television. 

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    By Phil Serafino, posted on Monday January 4, 2021
  • Biden Tax-Increase Agenda Revived as Democrats Win Senate

    WSJ logo

    By: Richard Rubin

    Democratic control of the Senate gives President-elect Joe Biden a much stronger chance of raising taxes on corporations and high-income households. Until this week’s Georgia runoff elections, Mr. Biden’s plans for tax increases were running into solid opposition from the Republican-controlled Senate. But now, Democrats will hold the White House, Senate and House simultaneously for the first time in more than a decade, and they are poised to use that power.

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    By Richard Rubin, posted on Thursday January 7, 2021
  • The 283 Days of Stock Returns after the 2016 Election

    Logo SSRN

    By Anthony M. Diercks, Daniel Soques, and William Waller

    Conventional wisdom suggests that the promise of tax legislation played an important and positive role in the 25% increase in the stock market that began on November 9, 2016 and continued through December 22, 2017 (the day TCJA was signed into law). Our comprehensive and exhaustive forensic analysis confirms its positive effect. With that said, we find that its net impact is relatively modest. To come to this conclusion, we first construct a novel daily human-based attribution by carefully reading the news on each of the 283 days. This exercise shows the 52 days in which tax-related news was important make up less than 1% of the total observed return. We attribute large gains to tax-related news immediately after the election as well as the build-up to passage in late 2017.

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    By Anthony M. Diercks, Daniel Soques, and William Waller, posted on Saturday January 23, 2021
  • HMRC pursues multiple criminal investigations in corporate tax disputes

    Financial Times

    By: Emma Agyemang

    The UK tax authority has opened multiple criminal investigations after probing whether large companies are wrongly paying less UK tax as a result of their cross-border financial arrangements.

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    By Emma Agyemang, posted on Sunday January 10, 2021
  • US to delay tariff on French goods over digital sales tax

    Financial Times

    By: Aime Williams

    The US will delay imposing tariffs on $1.3bn of French goods in response to the country’s digital services tax, heading off an escalation in transatlantic trade tensions just ahead of Joe Biden’s inauguration. 

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    By Aime Williams, posted on Thursday January 7, 2021
  • U.S. Says Digital Taxes of Italy, India, and Turkey Are Discriminatory

    By: Stephanie Soong Johnston

    The Office of the U.S. Trade Representative (USTR) has determined that India’s equalization levy and the digital services taxes of Italy and Turkey unfairly target U.S. business interests, but has no immediate plans to act on those conclusions.

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    By Stephanie Soong Johnston , posted on Monday January 11, 2021


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