Avocado Roundup is a quick review of top tax, legal, and climate news stories. It’s written by humans.
- Ten of South Korea’s biggest companies, including affiliates of Samsung, LG, and Hyundai Motor Group, among others, had repatriated a total $30.8 billion (39.9 trillion won) in dividends through September this year, drawn by the government’s new corporate tax breaks. That’s 12 times more than this time last year, a report says. (The Korea Economic Daily)
- A Zambia-led group of African countries at the United Nations said they plan to push for a General Assembly vote on a proposal to start formal negotiations to create a UN framework convention on tax cooperation. They said their plan aims to address shortcomings in the current OECD-led system for setting global tax policy, putting a bigger focus on fairness and inclusion. (Daily Post) (media.UN.org)
- Shakira reached a last-minute deal with Spanish prosecutors to avoid a criminal trial for tax fraud by admitting to failing to pay millions of euros in taxes. The Colombian pop star had faced up to over eight years in prison and a 24 million euro ($26.22 million) fine. (Associated Press)
- Big Law firm Mayer Brown promoted 42 attorneys to partner across its offices worldwide, including tax partners in Washington, Paris, and Sao Paolo, Brazil, effective, Jan. 1, 2024. It promoted 23 to counsel, including four tax counsel in New York, Paris, and Rio de Janeiro, Brazi. (MayerBrown.com)