Perhaps it was just a matter of time until the Internal Revenue Service decided to “outsource” its tax audit and litigation function to a private entity, i.e., a law firm. As reported in the December 8th issue of Tax Notes, the Service has hired the law firm of Quinn Emanuel Urquhart & Sullivan LLP, at a cost of more than $2 million, to assist in the transfer pricing audit of Microsoft Corp., signaling a […]

Swiss voters refused to give up a 152-year-old tax break for rich foreigners in Geneva and other wealthy areas that the government says helps the economy.

Fifty-nine percent voted against an initiative, sponsored by the Socialist Party, that would have abolished a system allowing foreigners to duck income and wealth taxes by negotiating lump-sum payments with Swiss cantons, the government said yesterday. Two other proposals, on the Swiss National Bank’s gold holdings and on immigration […]