Lauren Vella

Washington, D.C.

International Tax Reporter at Bloomberg Tax

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Articles

Bermuda Wants Comments on Technical Amendments to Corporate Tax

1 week ago | news.bloombergtax.com | Lauren Vella

Bermuda is requesting public feedback on a series of technical amendments the government is making to its corporate income tax. The island’s finance ministry released its first consultation for the amendments Thursday, detailing changes to the Corporate Income Tax law, including how certain kinds of insurance companies are treated, filing requirements and conversion of foreign currency.
Push for tribal tax clarity comes amid dodgy credits

1 week ago | news.bloomberglaw.com | Kim Dixon |Lauren Vella |Chris Cioffi

A Democrat and a Republican in the House plan to revive legislation they hope will provide tribal tax parity and close loopholes in tribal tax law, an effort that comes amid the proliferation of so-called sovereign tribal tax credits the Treasury Department and IRS say don’t exist. The Tribal Tax and Investment Reform Act, sponsored by Rep. Gwen Moore (D-Wis.) and Rep.
GOP Bill Cements US Position on ‘Unfair’ Taxes, Official Says

1 week ago | news.bloombergtax.com | Lauren Vella

XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
House retaliatory measure may sap revenue, investment

1 week ago | news.bloomberglaw.com | Lauren Vella

Retaliatory Taxes Could Spur Foreign Companies to Divest From USA new retaliatory measure included as part of the House’s mammoth tax package eventually will lose money for the US, raising concerns about the future of foreign direct investment and economic growth in the US. The House’s legislation creates Section 899 in the tax code to hit back against countries imposing discriminatory levies against American companies. It’s expected to bring in billions in revenue over the next several years.
House retaliatory measure may sap revenue, investment

1 week ago | news.bloombergtax.com | Lauren Vella

Retaliatory Taxes Could Spur Foreign Companies to Divest From USA new retaliatory measure included as part of the House’s mammoth tax package eventually will lose money for the US, raising concerns about the future of foreign direct investment and economic growth in the US. The House’s legislation creates Section 899 in the tax code to hit back against countries imposing discriminatory levies against American companies. It’s expected to bring in billions in revenue over the next several years.
International Provisions in GOP Tax Bill Face Senate Changes

1 week ago | news.bloombergtax.com | Lauren Vella

Companies scored wins after the House passed a multi-trillion-dollar tax bill that largely preserved the current tax rates on foreign-earned income. Republicans’ 2017 Tax Cuts and Jobs Act created a new international tax regime including a minimum tax on global intangible low-taxed income, or GILTI, a reduced tax rate on foreign-derived intangible income, or FDII, and a base erosion and anti-abuse tax, or BEAT.
Hong Kong Legislature Passes Its Global Minimum Tax Legislation

1 week ago | news.bloombergtax.com | Lauren Vella

XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
Businesses Seek Senate Tax Sweeteners on Foreign-Earned Income

2 weeks ago | news.bloombergtax.com | Lauren Vella

Multinational companies, which won preservation of major foreign-income tax provisions in the mammoth House-passed tax bill this week, are looking to the Senate for changes that would lower their tax liability further. Business interests cheered that current tax rates on foreign income are largely the same as those from the 2017 GOP tax overhaul and are made permanent in the House bill. But they want to see the Senate include legislation introduced by Sen.
International Tax Rates See Slight Increase in GOP House Bill

2 weeks ago | news.bloombergtax.com | Lauren Vella

The multi-trillion dollar House GOP bill passed early Thursday morning raises the effective tax rates on companies’ foreign-earned income ever-so-slightly, a change that a tax professional says accounts for a specific budgetary maneuver and rules required in the Senate. The mammoth tax package was amended from a previous version that cleared the Ways and Means Committee last week.
House tax bill nears final vote after SALT changes

2 weeks ago | news.bloombergtax.com | Lauren Vella |Kim Dixon |Herb Jackson

Revised House Tax Bill With Raised SALT CapThe House was working toward final passage of a mammoth tax package this morning after it cleared a procedural vote around 2:40 a.m. with only one Republican—Rep. Thomas Massie (R-Ky.)—voting against it. A revised bill released Wednesday night includes a deal brokered by House Speaker Mike Johnson (R-La.) with a group of blue-state Republicans to raise the state and local tax, or SALT, deduction cap from $10,000 to $40,000 over the next decade.