United States: Department Of The Treasury And The Internal Revenue Service To Issue Regulations Limiting Taxpayers’ Ability To Benefit From Undertaking “Inversion Transactions”

On September 22, 2014 the Department of the Treasury and the Internal Revenue Service provided official notice to taxpayers of their intention to issue regulations limiting taxpayers’ ability to benefit from undertaking “inversion transactions.” (Notice 2014-52 or the Notice). The Notice indicates that the regulations generally will be effective with respect to inversion transactions completed after September 21, 2014, and related tax planning strategies implemented by companies that inverted after that date.1

We expect the regulations […]

By |September 26th, 2014|

United States: OECD Releases Finalized Proposals On Key Tax Base Erosion Concerns

On September 16, 2014, the Organization for Economic Cooperation and Development (OECD) released its 2014 deliverables on the Base Erosion and Profit-Shifting (BEPS) project. The BEPS project, an ambitious and wide-ranging effort by the OECD’s Centre for Tax Policy and Administration (CPTA), is aimed at combating tax avoidance strategies in which global businesses minimize their overall tax burden by moving profits into taxpayer-friendly jurisdictions and exploiting differences in the tax laws and treaties of […]

By |September 25th, 2014|

United States: Tax Court Sanctions Use Of Predictive Coding During ESI Discovery

On September 17, 2014, the U.S. Tax Court issued its first opinion regarding the discovery of electronically stored information (ESI).  In Dynamo Holdings, Ltd. vs. Commissioner, 143 T.C. No. 9 (Sept. 17, 2014), the Tax Court permitted a taxpayer to use “predictive coding” as a first-level review of a large pool of documents.  The court’s opinion is important for taxpayers faced with requests for a substantial amount of ESI, and has the potential to […]

By |September 25th, 2014|