The Sao Paulo tax authority, Sefaz-SP, has issued its first ruling on the imposition of estate and gift tax (ITCMD) on resident beneficiaries of irrevocable trusts.

A deed executed by Ernesto and Josephine Colicci promising to make wills leaving their family business to their two children has been held legally binding by the England and Wales High Court.

The US federal Supreme Court has unanimously ruled that the Internal Revenue Service (IRS) is not required to provide notice when seeking the records of innocent third parties, provided the purpose is to collect a non-compliant taxpayer's tax liability.

A Canadian widow who was beneficiary of her late husband's registered retirement savings plan (RRSP) counted as her husband's spouse for tax purposes when the funds were transferred to her after his death, according to the Tax Court of Canada (the Tax Court).

Guernsey, Jersey and the Isle of Man have agreed a joint policy on implementing the OECD-wide 15 per cent minimum effective tax rate on large multinational enterprises, known as the 'Pillar Two' policy.

The England and Wales Court of Appeal (EWCA) has rejected a request from the beneficiaries of an offshore trust to set aside a voluntary disposition of assets on the ground of mistake.

The European Union's Council of Ministers (the Council) has reached agreement on the draft DAC8 directive on administrative cooperation in the area of taxation, amending the existing directive to require reporting and automatic exchange of information (AEOI) on revenues from crypto-asset transactions.

The England and Wales High Court (EWHC) has rejected a bank's claim that it need not pay interest to an aircraft leasing company for late payment of a debt because the payment put it at risk of breaching of UK sanctions against Russia.

Brazil's government has published Provisional Measure No. 1171/23 on the distribution of foreign trust assets. More widely, the measure modifies the rules for taxation of foreign-source income earned by Brazilian residents in financial investments and controlled entities.

The Isle of Man Financial Services Authority (the Authority) has published a document setting out its new risk-based approach to supervising the regulated finance sector.