North America: Tax

This comprehensive bulletin examines critical tax developments across 12 Asian jurisdictions, including China's intensified scrutiny of Hong Kong holding company structures for dividend withholding tax benefits, Singapore's implementation of Pillar Two global minimum tax registration requirements, and India's new Income Tax Act taking effect.

As artificial intelligence transforms business operations, multinational enterprises face critical questions about where value is created when significant human functions are automated. This analysis examines how the arm's length principle should be applied to controlled transactions involving AI tool development and deployment, with particular focus on risk control functions and the attribution of AI investments across evolving value chains.

Le 15 mai 2026, les gouvernements du Canada et de l'Alberta ont conclu un accord de mise en œuvre établissant le cadre du protocole d'accord signé le 27 novembre 2025. Cet accord vise à poursuivre la croissance économique, l'exécution de projets prioritaires et l'augmentation de la production énergétique de l'Alberta. Le présent bulletin examine les considérations fiscales relatives au projet d'oléoduc, à l'élargissement du crédit d'imp&#

Toronto property owners face a significant and growing municipal tax obligation that has caught many off guard — the Vacant Home Tax, commonly referred to as the VHT.

New York's groundbreaking pied-à-terre tax takes effect July 1, 2026, imposing substantial surcharges on non-resident luxury second homes valued over $5 million. With a complex two-phase implementation, aggressive compliance deadlines, and penalties up to 50% for documentation errors, property owners face critical decisions about exemption eligibility and appeal strategies. Understanding the valuation methodologies, primary residence requirements, and procedural pathways is essential for high-net-worth

Recent legislative changes have fundamentally altered New Jersey's Mansion Tax, shifting payment responsibility from buyers to sellers and introducing a graduated fee structure for high-value real estate transactions. Understanding these changes is critical for anyone involved in property sales exceeding $1 million, as the tax can represent a substantial closing cost that affects deal economics and negotiation strategies.

The perception that Internal Revenue Service enforcement is stronger than Canada Revenue Agency enforcement is common among taxpayers and advisors, particularly in cross-border contexts.

This comprehensive bulletin examines critical tax developments across 12 Asian jurisdictions, including China's intensified scrutiny of Hong Kong holding company structures for dividend withholding tax benefits, Singapore's implementation of Pillar Two global minimum tax registration requirements, and India's new Income Tax Act taking effect.

Le 15 mai 2026, les gouvernements du Canada et de l'Alberta ont conclu un accord de mise en œuvre établissant le cadre du protocole d'accord signé le 27 novembre 2025. Cet accord vise à poursuivre la croissance économique, l'exécution de projets prioritaires et l'augmentation de la production énergétique de l'Alberta. Le présent bulletin examine les considérations fiscales relatives au projet d'oléoduc, à l'élargissement du crédit d'imp&#

Liberty Global's $2.4 billion tax deduction case has sparked significant industry concern, with major business groups filing amicus briefs challenging the 10th Circuit's interpretation of the economic substance doctrine. The competing legal standards and potential strict-liability penalties have created uncertainty for taxpayers structuring complex transactions under Code-compliant provisions.

A federal court has resolved a 13-year dispute over $1 billion in renewable energy cash grants, establishing critical precedent for how courts should allocate purchase price among asset classes when competing valuation methodologies clash. The decision addresses whether anticipated tax benefits can be included in the fair market value of tangible assets whose basis determines those same benefits, with far-reaching implications for tax controversy practice.

Law No. 30-26 represents the Dominican Republic's most comprehensive tax reform in recent years, fundamentally restructuring the Tax Code with measures ranging from procedural improvements to expanded taxation on cross-border transactions. The reform introduces a temporary 30% corporate surcharge for large taxpayers, eliminates the solve et repete requirement for appeals, and significantly broadens the scope of worldwide income taxation with particular impact on technical assistance and digital services.