Michael Rapoport

Australia has a tough, newly validated weapon to go after multinational companies it sees as tax dodgers—and US technology and pharmaceutical companies may take a hit.

Pepsico has appealed an Australian court ruling against it that blessed the use of the country’s “diverted profits tax,” a tough weapon that Australian authorities can use to pursue multinational companies.

Ernst & Young's incoming global CEO Janet Truncale has made room for a trio of rivals on her executive team as she steers the Big Four network still healing from the trauma of its collapsed restructuring deal a year ago.

The number of advance tax deals finalized with the IRS on intercompany transactions surged in 2023, although new applications for the agreements fell, the IRS reported Friday.

More hiring and putting the Covid-19 pandemic in the rear-view mirror are paying off for the IRS unit that handles companies' advance tax deals on intercompany transactions.

Negotiations are continuing on a digital-taxation treaty to implement part of the OECD's 2021 global tax agreement, but completing the treaty is going to become more of a challenge the longer it takes, a former top US Treasury Department negotiator on the OECD agreement said Thursday.

A consolidated group shouldn't include dividends paid from other entities in the group in its pretax income for purposes of country-by-country tax reporting, the OECD said.

A case involving 3M Co. and the IRS may be the first test of how a US Supreme Court ruling giving judges more power to overrule regulatory agencies plays out in the arena of transfer pricing.

The IRS issued long-awaited proposed regulations for how companies should treat their previously taxed earnings and profits, or PTEP.