Tax and Accounting Correspondent
Lynnley's Feed
Sep 1, 2011

Companies shift losses to high-tax countries to trim taxes

Sept 1 (Reuters) – For nearly two decades, global
corporations have increasingly shifted trillions of dollars in
worldwide profits to low-tax countries across the Caribbean,
Europe and Asia to reduce their tax bills and maximize the
bottom line.

With the shaky world economy now battering those profits, a
new trend has emerged: some corporations are quietly moving
losses back to high-tax countries, a move that can also lower
their tax bills.

Aug 31, 2011

Insight: Motorola deal offers Google tax, patent benefits

/CHAPEL HILL, North Carolina (Reuters) — Google Inc’s (GOOG.O: Quote, Profile, Research, Stock Buzz) blockbuster acquisition of Motorola Mobility Holdings Inc (MMI.N: Quote, Profile, Research, Stock Buzz) will bring an unusual stable of tax and accounting benefits to the search-engine giant, already one of Corporate America’s most savvy users of such perks.

The deal also underscores a trend by technology companies to snap up patents in a bid to stave off competitive threats and patent-infringement lawsuits. Google’s patent portfolio is seen as one of the weakest in the industry.

Aug 31, 2011

Motorola deal offers Google tax, patent benefits

, Aug 31 (Reuters) –
Google Inc’s (GOOG.O: Quote, Profile, Research, Stock Buzz) blockbuster acquisition of Motorola
Mobility Holdings Inc (MMI.N: Quote, Profile, Research, Stock Buzz) will bring an unusual stable of
tax and accounting benefits to the search-engine giant, already
one of Corporate America’s most savvy users of such perks.

The deal also underscores a trend by technology companies
to snap up patents in a bid to stave off competitive threats
and patent-infringement lawsuits. Google’s patent portfolio is
seen as one of the weakest in the industry.

Aug 19, 2011

Analysis: Critics say new law makes them tax agents

NEW YORK (Reuters) – A U.S. law meant to snuff out billions of dollars in offshore tax evasion has drawn the criticism of the world’s banks and business people, who dismiss it as imperialist and “the neutron bomb of the global financial system.”

The unusually broad regulation, known as FATCA, or the Foreign Account Tax Compliance Act, makes the world’s financial institutions something of an extension of the tax-collecting Internal Revenue Service — something no other country does for its tax regime.

Aug 17, 2011

US appeals court backs government in tax shelter case

, Aug 17 (Reuters) – A federal appeals
court has upheld a ruling against a former senior tax lawyer at
Grant Thornton LLP and Coopers & Lybrand that banned him from
selling bogus tax shelters costing the United States government
up to $800 million in unpaid taxes.

A three-judge panel for the 8th U.S. Circuit Court of
Appeals on Tuesday rejected an appeal filed by A. Blair Stover
Jr., who had sought to overturn a Missouri federal court
decision in August 2010 barring him from promoting three tax
schemes deemed abusive by the Internal Revenue Service.

Aug 2, 2011

US indicts ex-UBS banker for tax evasion services

, Aug 2 (Reuters) – A former senior UBS AG
(UBSN.VX: Quote, Profile, Research, Stock Buzz) private banker was indicted on Tuesday by federal
prosecutors in Florida for selling offshore tax-evasion
services to wealthy Americans.

The former banker, Martin Lack, left UBS around 2003 to
work at Keusch & Merlo Invest AG, a financial advisory firm in
Zurich, according to court papers. He also ran a separate
advisory business, Lack & Partner AG, in Zurich.