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Dutch court clarifies interest deduction limitation and exception for central financing function

by usoftax_admin | May 7, 2025 | Tax News

Jian-Cheng Ku, Roland Kleimann, and Jurriaan van Bladel of DLA Piper Netherlands analyse recent case law on key financing functions as an exception to a Dutch interest deduction limitation

NY Assembly Bill Seeks Tax Credit For Cannabis Processors

by usoftax_admin | May 7, 2025 | Tax News

New York would establish a tax credit for eligible cannabis processors under a bill introduced in the state Assembly.

Adapting To Private Practice: From NY Fed To BigLaw

by usoftax_admin | May 7, 2025 | Tax News

While the move to private practice brings a learning curve, it also brings chances to learn new skills and grow your network, requiring a clear understanding of how your skills can complement and contribute to a firm’s existing practice, and where you can add...

This month in indirect tax: UK denies private school VAT breaches human rights law

by usoftax_admin | May 7, 2025 | Tax News

Meanwhile, South Africa’s finance minister has accepted a court decision on suspending a VAT increase and US President Donald Trump mulls a 100% tariff on foreign films

Fed. Circ. Agrees Plane Taxability Patent Doesn’t Fly

by usoftax_admin | May 6, 2025 | Tax News

The Federal Circuit on Tuesday refused to revive an Ohio company’s patent that covers using Federal Aviation Administration data to determine “the taxability status of aircraft,” agreeing that it covered subject matter that isn’t...

Tax Court Erred In Slashing $23M Easement, 11th Circ. Told

by usoftax_admin | May 6, 2025 | Tax News

A partnership told the Eleventh Circuit that the U.S. Tax Court erred in substantially reducing its claim to a $23 million conservation easement tax deduction, arguing the decision was tainted by error-riddled criteria used by the IRS to value the property.

Tax Reforms Can Be Key To Ukraine’s Stability, OECD Says

by usoftax_admin | May 6, 2025 | Tax News

Ukraine has remained resilient during the war with Russia, but changes to its tax regime, including reducing compliance burdens and working to narrow some exemptions and reduced rates, could help establish fiscal stability, the Organization for Economic Cooperation...

EU Tax Committee Looking To Streamline Avoidance Measures

by usoftax_admin | May 6, 2025 | Tax News

A European Commission tax subcommittee is considering ways to simplify the European Union’s various measures aimed at preventing corporate tax avoidance, the subcommittee said ahead of a public hearing on the topic next week.

Military Moving-Cost Deduction Nixed For Civilian Contractor

by usoftax_admin | May 6, 2025 | Tax News

A civilian contractor for the U.S. Air Force cannot deduct her moving expenses because she is not considered a member of the military for purposes of the deduction, the U.S. Tax Court said in a bench opinion released Tuesday.

Actor Voight, Film Biz Adviser To Trump, Floats Tax Incentives

by usoftax_admin | May 6, 2025 | Tax News

Actor Jon Voight, whom President Donald Trump tapped as an adviser on the Hollywood film industry, told Trump that tax incentives, international treaties and limited tariffs could revitalize production, while California Gov. Gavin Newsom separately floated a $7.5...
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