An article co-authored by Jennifer Lee, Zachary Kling, Jonathan Rhein, Zaira Cortes Rivero and Peter Glicklich is published in Bloomberg Tax. The article, focused on the U.S. Corporate Alternative Minimum Tax (CAMT), warns that the application of certain aggregation rules as described in recent IRS guidance may subject more corporations to the tax and CAMT-related compliance.
U.S. Supreme Court Upends 40 Years of Judicial Deference to Regulations
July 25, 2024 - In a historical opinion in Loper Bright Enterprises v. Raimondo, Secretary of Commerce, released at the end of June, the U.S. Supreme Court overturned the “Chevron” doctrine, which for so long had controlled judicial review of U.S. federal regulations. Chevron, decided in...
Canada Finally Enacts the Digital Services Tax (Maybe)
July 09, 2024 - The new Digital Services Tax Act came into force with an order-in-council on June 28, 2024, imposing a 3% digital services tax (DST) on certain Canadian-source digital services revenue of large entities. The DST would first be payable in 2025, with the initial payments retroactively...
