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Luxembourg

Companies put $221 billion into low-tax jurisdictions in 2015 – U.N.

Companies put $221 billion into low-tax jurisdictions in 2015 – U.N.

GENEVA (Reuters) – Companies put $221 billion into countries with low tax last year, chiefly Luxembourg and the Netherlands, while $72 billion of investment went into two British tax havens – the British Virgin Islands and Cayman Islands, the U.N. said on Tuesday. However, they took billions out of Luxembourg and the Netherlands in the final […]

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Accountants, journalist face tax leaks trial in Luxembourg

Accountants, journalist face tax leaks trial in Luxembourg

LUXEMBOURG (Reuters) – Two former employees of accountancy giant PwC go on trial in Luxembourg on Tuesday along with a French journalist, accused of leaking details of corporate tax deals that have fuelled global demands for reform. The case, coming 18 months after revelations dubbed LuxLeaks sparked accusations the Grand Duchy conspired with multinational companies to deprive […]

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31 countries sign international agreement on country-by-country reporting, but not U.S.

31 countries sign international agreement on country-by-country reporting, but not U.S.

OECD press release (Jan. 27, 2015). On January 27, finance ministers and top officials from 31 countries — which didn’t include the U.S. — signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (the Agreement), according to an OECD press release. This is the first signing ceremony for the Agreement to facilitate […]

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EU set to investigate McDonald’s tax deal with Luxembourg

EU set to investigate McDonald’s tax deal with Luxembourg

BRUSSELS (Reuters) – EU antitrust regulators are likely to widen their crackdown on corporate tax dodging with an investigation into a deal between fast-food chain McDonald’s and Luxembourg, two people with knowledge of the matter said on Wednesday. Deals helping multinationals slash their tax bills to minimal amounts of as little as 1 percent or below […]

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U.S. Senate panel approves eight international tax treaties

U.S. Senate panel approves eight international tax treaties

WASHINGTON (Reuters) – The U.S. Senate Foreign Relations Committee on Tuesday approved eight long-delayed international tax treaties, which had been held up for years because of one Republican senator’s objections, despite support from companies that want consistency in rules for how to do international business. The treaties are with Switzerland, Luxembourg, Hungary, Chile, Spain, Poland […]

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EU rules Starbucks, Fiat tax deals illegal, rocking system

EU rules Starbucks, Fiat tax deals illegal, rocking system

BRUSSELS (Reuters) – The European Commission ruled on Wednesday that Starbucks Corp and Fiat Chrysler Automobiles NV benefited from illegal tax deals with the Dutch and Luxembourg authorities, dealing a heavy blow to profit-shielding arrangements used by many multinationals. Antitrust commissioner Margrethe Vestager said all firms must pay a “fair share” and ordered the Netherlands […]

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Offshore tax zones cost developing countries $100 billion a year

Offshore tax zones cost developing countries $100 billion a year

GENEVA (Reuters) – Developing countries are losing around $100 billion a year in revenues because foreign investors are channelling profits through offshore zones to avoid tax, a study by U.N. think-tank UNCTAD said on Wednesday. “Tax avoidance practices therefore are responsible for a significant leakage of development finance and resources,” UNCTAD Secretary-General Mukhisa Kituyi told […]

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New Luxembourg Leaks Reveal Disney, Koch Industries Tax Deals

New Luxembourg Leaks Reveal Disney, Koch Industries Tax Deals

LONDON (Reuters) – Walt Disney Co, commodities group Koch Industries and others agreed deals in Luxembourg that could have delivered huge tax savings, a group of investigative journalists has reported, heightening an international debate on corporate tax avoidance. The International Consortium of Investigative Journalists (ICIJ) said the two companies engaged in complex restructurings and channeled […]

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Washington Alert – IGA with Luxembourg, No reelection for Rep. Dave Camp, TIGTA Report on improper retirment funds issued, Update on IRS transcript requests

Washington Alert – IGA with Luxembourg, No reelection for Rep. Dave Camp, TIGTA Report on improper retirment funds issued, Update on IRS transcript requests

The U.S. and Luxembourg on March 28 signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA). As described by Luxembourg for Finance (LFF), a quasi-public agency, the IGA includes the automatic exchange of information between the tax authorities of both countries on assets held in Luxembourg by U.S. citizens and […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney