The Trump Administration has released a memorandum introducing the "Fair and Reciprocal Plan," aimed at reducing the trade deficit and promoting fairness in international trade on 13 February 2025. The letter states that for many years, the

The US Internal Revenue Service (IRS) has released updated practice units addressing specific issues related to partnerships. As part of the Large Business and International (LB&I) Division’s knowledge management efforts, practice units are

The US Internal Revenue Service (IRS) has updated its practice units on 16 January 2025 to better identify and examine taxpayers who elect partial dispositions of buildings. Identifying a Taxpayer Electing a Partial Disposition of a

The US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an update on beneficial ownership information (BOI) reporting requirements on its BOI webpage. The alert states that the Justice Department, on behalf of the

Chile’s tax administration published Circular Letter 11/2025 on 30 January 2025, which introduced Law 21.713, regarding controlled foreign company (CFC) regulations, preferential tax regimes, and the indirect sale of assets in Chile. The Law

US Senator Sheldon Whitehouse (D-RI) and Congressman Lloyd Doggett (D-TX) reintroduced the No Tax Breaks for Outsourcing Act on 5 February 2025. First introduced in 2018, this legislation would end tax incentives created during the first Trump