Avocado Roundup is a quick morning review of top tax, legal, and climate news stories. It’s written by humans.
- French tax authorities raided a General Electric unit in the town of Belfort Tuesday, eight months after beginning an investigation into the company on suspicions of money laundering and tax fraud, according to French-language reports. (Le Figaro) The investigation followed up an accusations that the company’s units in the towns of Belfort and Bourogne, near the Swiss border, rigged their transfer pricing structure to shift hundreds of millions of euros to units in Switzerland and the US state of Delaware. (Agence France Presse via Boursorama)
- French tax authorities are auditing Netflix’s accounts from 2019 to 2021, according to another report. The video streaming giant is suspected of minimizing its French tax by shifting revenues to the Netherlands. (La Lettre A)
- Germany’s governing coalition Tuesday agreed Tuesday to 34 billion euros ($37 billion) in tax cuts spread over four years to boost the country’s sagging economy. (Reuters)
- Philadelphia-founded Fox Rothschild expanded its automotive industry practice by acquiring New Jersey-based boutique firm Aboyoun Dobbs LLC. Joining Fox Rothschild in Morristown are partners Joseph Aboyoun and Seth L. Dobbs, and counsel Allan L. Markus, Timothy J. Broking, and Will Salerno. (FoxRothschild.com)
- White & Case added debt finance attorney Peter Mason as partner in London. He arrives over 12 years at Freshfields Bruckhaus Deringer. (WhiteCase.com)
