PepsiCo Inc.’s legal battle with Australia over cross-border transactions will soon result in a final high court ruling that threatens to hike taxes for multinational companies.
The Australian Tax Office is arguing that PepsiCo owed taxes on royalties that were “embedded” in a sale of beverage concentrate from a Singapore Pepsi affiliate to an Australian bottler. The company won an earlier round in a lower court.
A loss for PepsiCo in the case could particularly expose industries such as pharmaceuticals and technology to higher royalty taxes, and may determine the extent to which Australia can use its diverted profits tax.
Global AML watchdog the Financial Action Task Force (FATF) says it has made major changes to the criteria it uses for placing countries on its “grey list” of nations under increased monitoring,
Spanish Prime Minister Pedro Sánchez has proposed taxes of up to 100% for non-resident non-EU purchasers of property in Spain, as one of several measures intended to address the housing crisis. Sánchez
After a seven-month hiatus, Binance has made a notable return to India’s digital landscape. The crypto exchange has been reinstated on India’s Google Play Store and Apple App Store as of August
Today, the EU Council adopted the 15th package of economic and individual sanctions to further limit Russia’s ability to wage an illegal, unprovoked and unjustified war of aggression against Ukraine,