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.
Last month’s steep increase in Singapore’s carbon tax illustrates the commitment the country has made to bringing about a carbon-neutral future. Without government intervention and regulation,
Republican SEC Commissioner Mark Uyeda wants to help president-elect Donald Trump fulfill his promise of ending the Biden Administration’s so-called war on crypto, FOX Business has learned. Uyeda,
The UK government is reviewing its recent move to impose inheritance tax on global assets of non-domiciled residents, following a wave of departures among high-net-worth individuals and lobbying from
A woman in London is on trial for laundering crypto worth billions of dollars, stolen from Chinese investors.The UK’s National Crime Agency is expanding its capabilities to combat cryptocurrency fraud.The