Government says tax will go to funding national music center.
- Streaming music giant Spotify Inc. slammed a French government announcement that it plans to tax the revenues of streaming music services starting in 2024, to finance the country’s national music center. “This is a real blow to
innovation, and to the growth prospects of recorded music in France,” Spotify said in a statement emailed to LegalAvocado. - Culture Minister Rima Abdul Malak told French press Wednesday that the tax will be “a very low rate,” but she provided no further details. A senate report earlier this year recommended a 1.75% tax on paid subscription-based streaming services and free services that are financed by advertising. (Les Echos)
- Spotify said the government had ignored efforts by a coalition a music streaming companies to voluntarily contribute 14 million euros ($15.39 million) to fund the music center. The company said it is “assessing implications” of the planned tax for its business in France. “We strongly remain opposed to this unfair, unjust and disproportionate measure.”
Cambodia, France Start Talks for Double-Tax Convention
- Cambodia and France started negotiations for a treaty to avoid double taxation of income, aimed at boosting trade and tax cooperation between the two countries, an Asia-based professional services firm reported. (Asean Briefing)
- Tax administrations in 131 jurisdictions exchanged information on tens of thousands of tax rulings in 2022, according to a new peer review report from the Organization for Economic Cooperation and Development. The report is the OECD’s seventh assessing jurisdictions’ implementation of an international standard that requires spontaneous exchange of information on tax rulings. (OECD.org),
Polsinelli Hires Veteran adviser to Tax-Exempt Organizations
- Big Law firm Polsinelli PC picked up veteran tax attorney Jacob Zerkle as counsel in Chicago. Arriving from Michael Best & Friedrich, Zerkle advises tax-exempt and nonprofit organizations. (Polsinelli)
- Former KPMG business tax services partner Ed Coleman took a job as managing director at professional services firm Global Tax Management in the Philadelphia area. (Businesswire)
- Norton Rose Fulbright promoted 49 attorneys to partner across its offices worldwide, effective Jan. 1, 2024, including two tax lawyers, one each in Montréal and New York. (NortonRose.com)
- Also effective Jan. 1, 2024, JonesDay.com named 51 lawyers to partner, including one tax partner in New York, and Lowenstein Sandler named three attorneys to partner. (Lowenstein.com)
