Avocado Roundup is a quick morning review of top tax, legal, and climate news stories. It’s written by humans.
- Korean individuals and companies have reported about $98.4 billion (131 trillion won) in overseas cryptocurrency assets to the country’s tax authority in 2023 under a reporting requirement that took effect earlier this year. (Korea Times)
- Foreigners in Thailand who earn money from crypto investments will be subject to the country’s plan to start taxing all overseas income of people who reside there at least 180 days in a year, starting in 2024. (Coin Telegraph)
- France’s tax authority this week for the first time used its power, under a 2018 law, to name and shame a company it penalizes following a tax audit. The law aimed to serve as a dissuasion to tax fraud. (Legi Fiscal)
Tax Increases, Rulings
- Nigeria loses as much as $18 billion per year to “illicit outflows” due to tax fraud, abusive transfer pricing, crime, and corruption, according to a report. (Daily Trust)
- The US Federal Trade Commission warned five tax preparation companies they could face civil penalties for misuse of consumer data. (FTC.gov)
- An Illinois county jury indicted three people accused of more than $3 million in sales tax fraud at gas stations. (25 News Now)
Laterals, Moves, Promotions
- Orrick Herrington & Sutcliffe hired away Greenberg Traurig renewable energies tax attorney John Eliason, who co-led Greenberg’s energy project finance practice. He joins Orrick as partner on its energy and infrastructure team. (Orrick.com)
- Canadian business law firm Osler Hoskin & Harcourt said former federal appeals court Chief Justice Marc Noël joined the firm as partner in its national tax office in Ottawa. (Osler.com)
- EY Law’s Spanish unit EY Abogados hired longtime Baker McKenzie tax adviser Ana Royuela as partner in Barcelona. At Baker McKenzie for over 23 years, including close to 14 as partner, Royuela led the firm’s value added tax practice for the Europe, Middle East, and Africa region. (Iberian Lawyer)
