08/28/2014
An effort to control tax havens for those hiding their assets overseas has resulted in broad brush impacts on hard-working expatriate Americans living and working out of country.
08/26/2014
United States: FATCA’s Impact On Preparing Trusts With Offshore Business or Investment Activities
Its purpose was designed to prevent U.S. taxpayers from "hiding" under the cover of a foreign based entity or trust in evading U.S. income tax and possiblly evading U.S. transfer tax.
08/25/2014
A tax amnesty for Australians with income and assets overseas has added almost $40 million in income into the tax system.
08/25/2014
The Bahamas' Ministry of Finance has clarified that local charities and non-government organizations will be exempt from VAT, and refunds will provide some relief against VAT incurred on inputs in relation to their charitable activities.
08/21/2014
Investors who move money to non-disclosure jurisdictions will be kept in check by new rules from the UK tax authorities, which plan to make it a criminal offence to evade offshore tax.
08/21/2014
The original purpose of the LDF when it was launched back in 2009 was to allow individuals with assets in Liechtenstein and undisclosed tax liabilities to settle those liabilities with HMRC on exceptionally advantageous terms.
08/21/2014
UK expats are being encouraged to write to the Competition and Markets Authority over their treatment by onshore banks, which are refusing to allow them to open accounts – or switch existing accounts to those offering better rates.
08/19/2014
Some £1.5bn has been recovered from offshore tax evaders over the past two years.
08/19/2014
The planning issue for anyone with an offshore undeclared account is framed in the context of penalty avoidance or mitigation
08/19/2014
This will allow such not-for-profit entities to be treated the same way under UK FATCA as they are presently under US FATCA and US-Bermuda IGA Annex I VI B 4 j.
08/18/2014
Four bank accounts in Australia, Paris and Switzerland have also been frozen as part of the ATO’s investigations
08/17/2014
Property owners and pensioners who face losing their personal tax allowances can take steps now to protect themselves, say experts
08/15/2014
HMRC says offshore trusts cannot use settlement facility
HMRC announced on Thursday that users of offshore tax avoidance schemes were not eligible for the special rates aimed to encourage taxpayers to come clean over secret foreign bank accounts.
08/15/2014
The Embassy of the Grand Duchy of Luxembourg in London, has now confirmed that Luxembourg has completed its own ratification procedures.
08/14/2014
Nigel Green, deVere Group founder and chief executive, warned that should the government introduce these plans a growing number of British expats are likely to “sever financial ties with the UK”.
08/14/2014
The Organization for Economic Cooperation and Development issued compliance ratings for 10 jurisdictions as part of its ongoing ‘Phase Two Peer Review’ reports.
08/13/2014
The lawsuit is accompanied by a complaint to the United Nations that FATCA violates fundamental human rights
08/11/2014
Singapore has grown rapidly by assets under management as wealthy entrepreneurs from the region, especially southeast Asia, have started to use private banks.
08/11/2014
Australian authorities had made four requests for information to determine the beneficial owners of two Cayman-domiciled companies
08/10/2014
Two additional bills aimed at turning the sales tax (IVI) into a value-added tax and another bill to revamp the income tax scales will be delayed until 2016, ruling party lawmaker Otton Solis told Bloomberg.