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Apple, McDonald’s, Google and IKEA to face EU lawmakers over tax deals

Apple, McDonald’s, Google and IKEA to face EU lawmakers over tax deals

BRUSSELS – Apple, Google, McDonald’s and IKEA will be asked about their European tax deals on Wednesday as EU lawmakers ratchet up the pressure on multinationals to pay more tax on their profits locally. The hearing, organised by the European Parliament’s tax committee, follows a similar event in November last year when Anheuser-Busch InBev, HSBC, Google and […]

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UK lawmakers say Facebook may have broken tax rules

UK lawmakers say Facebook may have broken tax rules

LONDON (Reuters) – Facebook said it would ditch a corporate structure that helps minimise its UK tax bill, prompting lawmakers and campaigners to ask whether the arrangement had ever complied with UK tax rules. Facebook said on Friday it would stop booking sales to major UK clients via an Irish subsidiary and in future report […]

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Google accounts show 11 billion euros moved via low tax ‘Dutch sandwich’ in 2014

Google accounts show 11 billion euros moved via low tax ‘Dutch sandwich’ in 2014

AMSTERDAM/LONDON (Reuters) – Google moved 10.7 billion euros ($12 billion) through the Netherlands to Bermuda in 2014, as part of a structure which allows it to earn most of its foreign income tax free. Accounts for Google Netherlands Holdings BV published on Thursday show the unit transferred almost all its revenue, mainly royalties from an […]

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EU antitrust chief rejects U.S. criticism of Apple, Starbucks tax cases

EU antitrust chief rejects U.S. criticism of Apple, Starbucks tax cases

BRUSSELS (Reuters) – Europe’s antitrust chief signalled on Monday her determination to go after Apple, Starbucks and McDonald’s over their tax deals in the bloc, dismissing U.S. criticism of her crackdown on the companies. European Competition Commissioner Margrethe Vestager’s comments come three days after senior U.S. Treasury official Robert Stack met her team in the […]

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Top U.S. official to meet EU antitrust team on tax

Top U.S. official to meet EU antitrust team on tax

BRUSSELS – A senior U.S. Treasury official will meet European Union antitrust officials investigating tax deals involving Apple and Amazon on Friday, the latest lobbying effort against a crackdown on U.S. firms. The meeting comes a week after Apple Chief Executive Tim Cook met European Competition Commissioner Margrethe Vestager, who is expected to rule on […]

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Google to face grilling by UK lawmakers over tax deal

Google to face grilling by UK lawmakers over tax deal

LONDON (Reuters) – A British parliamentary committee will ask Google to testify about a back tax deal under which it will pay 130 million pounds ($185 million) to settle claims covering a 10-year period — an amount the opposition Labour party has described as derisory. Meg Hillier, the Labour party chairwoman of parliament’s Public Accounts […]

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Shareholder-employee’s payment in merger included both ordinary income and capital gains

Shareholder-employee’s payment in merger included both ordinary income and capital gains

Brinkley v. Comm., (CA 5 12/16/2015) 116 AFTR 2d ¶ 2015-5520 The Court of Appeals for the Fifth Circuit, affirming the Tax Court, has concluded that payments received by a shareholder-employee and founder of the company in a merger with Google, although nominally for the exchange of his stock, was partly compensation for services rendered. […]

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Google invests $300 million in U.S. residential solar projects

Google invests $300 million in U.S. residential solar projects

(Reuters) – SolarCity Corp on Thursday said it created a $750 million fund to finance about 25,000 residential solar projects, with Google Inc investing nearly half the funding. The money will be used by SolarCity to put solar panels on homes. Homeowners then will pay a monthly fee to lease the panels from the company. […]

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Britain targets multinationals that try to dodge taxes

Britain targets multinationals that try to dodge taxes

LONDON, Dec 3 (Reuters) – Britain plans to introduce a tax to target multinationals such as Google Inc and Amazon Inc accused of using complex accounting schemes to cut their payments on earnings in the country. Governments around the world are trying to overhaul international tax treaties to stop big corporates siphoning off profits into […]

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Google Shares Are on Sale – Some Predict a Jump if Ad Business Improves

Google Shares Are on Sale – Some Predict a Jump if Ad Business Improves

Google Shares Are on Sale – Some Predict a Jump if Ad Business Improves, as reported in the WS Journal. Google shares have dipped from over $600 in September to below $530 on signs of a slowdown in ad revenue. They could trade $100 higher over the next year if Google’s ad business proves healthier […]

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Bits ‘n Pieces – London mayor is poster boy for expat woes; House approves $42 billion tax break package; Gas tax – time for change?; House approves tax credit for wind energy; Britain and the Google tax

Bits ‘n Pieces – London mayor is poster boy for expat woes; House approves $42 billion tax break package; Gas tax – time for change?; House approves tax credit for wind energy; Britain and the Google tax

* London mayor is poster boy for expat tax woes. By Laura Saunders – The Wall Street Journal. Boris Johnson’s case is a perfect illustration of the dilemmas faced by many of the 7.6 million U.S. citizens living abroad as a result of U.S. authorities’ five-year campaign against secret offshore accounts. Link to The Wall […]

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Irish Tax Changes May Cost U.S. Groups Billions

Irish Tax Changes May Cost U.S. Groups Billions

LONDON (Reuters) – Ireland’s plan to close a “Double Irish” tax loophole could cost U.S. companies including Apple and Google billions of dollars, although a new break and pressure to tackle tax avoidance elsewhere means they are unlikely to decamp. Analysts and tax advisers predict that corporations which need access to the EU’s 500 million […]

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Google’s Tax Setup Faces French Challenge – Arrangement Channels European Revenue to Country With Favorable Tax Laws

Google’s Tax Setup Faces French Challenge – Arrangement Channels European Revenue to Country With Favorable Tax Laws

Google’s Tax Setup Faces French Challenge – Arrangement Channels European Revenue to Country With Favorable Tax Laws, as reported in the WS Journal. PARIS— Google Inc. GOOGL -2.74% Chief Executive Larry Page met with France’s premier late last month and quietly pressed home a message: Google has invested heavily in France and is willing to […]

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EU has ‘serious doubts’ about Italy’s proposed Web tax

EU has ‘serious doubts’ about Italy’s proposed Web tax

EU has ‘serious doubts’ about Italy’s proposed Web tax. Reuters. The European Commission warned on Thursday that Italy’s proposed legislation to raise revenue from online companies including Google Inc and Amazon Inc was likely to break European Union rules. Link to Reuters, r.reuters.com/xuw55v (Reuters) – The European Commission warned on Thursday that Italy’s proposed legislation […]

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Ireland to close Apple’s tax loophole, but leave bigger one open

Ireland to close Apple’s tax loophole, but leave bigger one open

Ireland said it planned to shut down a much-criticised tax arrangement used by Apple Inc to shelter over $40 billion from taxation – but will leave open an even bigger loophole that means the computer giant is unlikely to pay any more tax. A U.S. Senate committee investigation revealed in May that Apple had cut […]

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Special Report – How big techs stay offline on tax per OECD – the key is tax residency or permanent establishment

Special Report – How big techs stay offline on tax per OECD – the key is tax residency or permanent establishment

As reported in the news in Reuters, big business was having none of it. In January 2013, a lobby group which represents the largest corporations in the world wrote a letter to the body that drafts the rules on taxing multinationals. The letter focused on a small change to an obscure document, but one that […]

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Google Sues IRS for $83.5 Million Tax Refund

Google Sues IRS for $83.5 Million Tax Refund

As reported in the news in Bloomberg, Google Inc. (GOOG), owner of the most popular Internet search engine, sued the U.S. Internal Revenue Service for an $83.5 million refund, claiming it was improperly denied a deduction for a 2004 stock transaction with America Online Inc. The IRS erred in disallowing a $238.6 million deduction claimed […]

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David Cameron takes on the tax havens

David Cameron takes on the tax havens

As reported in Reuters, “David Cameron takes on the tax havens.”  There is nothing more likely to spark anger than an unfair tax regime. The American Revolution was founded on it. So the discovery that some of the largest and most successful companies in the world — among them Google, Apple, Amazon and Starbucks – have legally minimized […]

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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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