Pfizer and Allergan said they are working on a corporate inversion deal that will amount to a reverse takeover under Irish law. The transaction reportedly is valued at $160 billion. The announcement came just days after the IRS previewed regulations that will further reduce the tax benefits of corporate inversions and make such transactions more difficult to achieve. This article discusses both of the issues.
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The EU launched an investigation into whether Luxembourg gave unlawful tax deals to McDonald’s. In a tax ruling, Luxembourg determined that the fast food chain wouldn’t owe it any taxes even if the company wasn’t subject to tax in the United States. This article provides the details.
International value-added tax guidelines from the OECD were endorsed by 104 countries. The move is a step toward ensuring that consumption taxes are paid in the jurisdictions where products are consumed, particularly when the sales are online. This article looks at the details of the guidelines.