12/22/2015
Bar Refaeli arrested in Israel for tax evasion
Bar Refaeli’s lawyers and Tax Authority representatives appeared at the Tel Aviv Magistrates Court today for a hearing on her release under restricting conditions.
Tax
12/22/2015
India to Sign Agreements With Singapore, UAE and Hong Kong to Get Information on Illegal Bank Accounts
The CBDT spokesperson further revealed that AEOI will help create an environment of transparency between 75 countries that have signed the MCAA
12/22/2015
Australia ramps up focus on offshore tax evasion
It has also compiled a list of 100 advisers and promoters operating globally that have a direct link with people who may have evaded taxes.
12/22/2015
Common Reporting Standard Enters Into Effect For Investment Funds In The Cayman Islands on 1 January 2016
The Common Reporting Standard (CRS) will impact Cayman Islands domiciled investment funds with effect from 1 January 2016. The CRS framework represents a globally coordinated approach to the disclosure of income earned by individuals and organizations in
12/21/2015
Cayman National subsidiaries in US tax evasion probe
The Cayman Reporter reached out to Cayman National Bank President Osmond Williams, who passed all queries to Cayman National CEO and President Stuart J Dack.
12/18/2015
Cantillon: Two sides to crack down on corporate tax
Ireland hoping to win business from tax havens but at risk of losing some tax too
12/18/2015
A New Tax System For Managed Investment Trusts
The new regime will apply from 1 July 2016, although in certain circumstances a trustee of a managed investment trust can choose to apply the rules prior to this date.
12/18/2015
Hervé Falciani: ‘HSBC Switzerland was a Tax Haven in Itself’
HSBC has acknowledged that its Swiss arm was guilty of advising customers on evading tax.
12/17/2015
Swiss banks fined for helping U.S. citizens evade taxes
Crédit Agricole, Dreyfus Sons, Baumann avoid criminal charges after hiding assets from IRS
12/17/2015
ATO to unveil large business hit list, clamps down on Singapore hubs
The recent Senate inquiry into corporate tax avoidance revealed that a number of companies (such as Google, Apple, Microsoft, BHP Billiton and Rio Tinto) were under ATO audit for using hubs.
12/17/2015
Worldwide: Global FATCA: Let's Do It Again
The first reporting cycle for the US Foreign Account Tax Compliance Act was a learning curve for all participants throughout 2015.
12/17/2015
China takes important step to boost international co-operation against tax evasion
The G20 Leaders have repeatedly stressed their commitment to automatic exchange of information, most recently at their November meeting in Antalya, Turkey.
12/17/2015
Swiss bank hid clients’ assets for tax evasion
Dreyfus avoided US prosecution by agreeing to pay $24.2m and admitting it "did not implement strict enough controls" to ensure that its American clients paid their taxes
12/16/2015
Soon, getting black money info from Swiss banks may be easy
Swiss Federal Council has initiated consultation proceedings on the revision of the Tax Administrative Assistance Act
12/16/2015
Monaco confirms its commitment to implement Automatic Exchange of Financial Account Information
Many jurisdictions are now updating domestic legislation to ensure that financial institutions report information on financial assets held by non-residents. Financial information will be collected from 1 January 2016 in around 50 jurisdictions, for autom
12/16/2015
Policing the tax frontier – family businesses in the firing line?
HMRC have got a predicament on their hands when it comes to policing the boundary between low corporation tax rates, capital gains tax for individuals, and income tax. This continuing trend away from taxing companies and instead taxing individuals means c
12/16/2015
Global FATCA: Let's Do It Again
Fifty-three jurisdictions have agreed to automatic ex-change of tax information beginning in 2017, under the OECD's Common Reporting Standard.
12/16/2015
Offshore tax evasion penalties could lead to double jeopardy and conflict of interest, warns expert
Corporate tax Tax Tax Disputes and Investigations Professional services Financial Services UK Europe
12/15/2015
Greek prosecutors investigating tax evaders raid Swiss Private Bank office
The information concerned accounts held by private individuals and companies with assets estimated to be worth up to 4 billion Swiss francs ($3.92 billion).
12/14/2015
How Microsoft moves profits offshore to cut its tax bill
Court documents in a case between Microsoft and the IRS provide a detailed look at how the company, like other multinational corporations, has created a complex structure that allows it to minimize its tax bill.