06/08/2018
Should HMRC have more time to investigate offshore tax?
But, and as we all know, mistakes happen and the current legislation allows a 4, 6 and 20 window for HMRC to reopen tax returns.
Tax
06/08/2018
Ansbacher providing seamless solutions for tax reporting
Client requests have reportedly led Ansbacher to outsource a better and seamless tax reporting practice.
06/06/2018
$12 trillion ‘phantom’ corporate investment – it’s not just about tax avoidance by George Bull
Using the latest transparency data, a report from the International Monetary Fund estimates that multinational corporations have invested $12 trillion in empty shell companies. On top of that, around $7 trillion of personal wealth is held in tax havens. W
06/06/2018
HMRC tax evasion investigations up by 20%
In 2015, HMRC was looking at 2,972 cases, which increased to 3,216 in2016-17 and 3,809 in 2017-18 – an 18% year-on-year increase.
06/05/2018
Scrapping inheritance tax won’t make divorce easier
Proposals consider being able to gift up to £125,000 per person as a lifetime gift without payment of tax.
06/01/2018
EU puts US on the clock for tax blacklist
If the US does not comply with the OECD Common Reporting Standard by June next year it faces being placed on the EU blacklist for non-cooperative jurisdictions, an EU top official has warned.
06/01/2018
Beware: executors are liable for inheritance tax
When that person dies, you, as executor, will be expected to deal with their estate, making sure that their will – if they had one – is respected.
06/01/2018
Offshore tax measures behind UK evasion spike
HM Revenue and Customs identified a 20% jump in serious tax evasion cases in the past 12 months, according to data obtained by law firm Pinsent Masons.
06/01/2018
Two Caribbean Countries Removed from EU Tax Haven Blacklist
“EU experts have assessed those commitments… [and] implementation of their commitments will be carefully monitored by the working group responsible for the listing process (code of conduct group),
05/29/2018
Retail millionaire to bankroll hunt for wealthy tax avoiders
For business, reputation is everything. And Britain doesn’t like tax avoiders.
05/29/2018
Paraguay joins international efforts against tax evasion and avoidance
The Convention is the key instrument for swift implementation of the Standard for Automatic Exchange of Financial Account Information in Tax Matters.
05/28/2018
New tax treaties with Singapore and Switzerland contain BEPS-related measures
The two treaties provide for the following withholding tax rates for source-country taxation on various types of income
05/28/2018
OECD peer reviews on BEPS Action 13 Country-by-Country reporting initiative show strong progress for global roll-out in June
The first annual peer review focuses mainly on the domestic legal and administrative framework
05/28/2018
Switzerland Is An Ideal Destination For Tax Evasion. Here’s Why
As per these agreements, Swiss banks are obligated to reveal information about U.S. and EU account holders with their respective countries.
05/25/2018
‘Monstrous’ offshore bond tax regime ripe for review
The way in which the gains on such policies interact with the tax system is complex, and the OTS believes that this area of savings taxation warrants further review.
05/25/2018
Taxman criticised for letting Sackler companies ‘dodge millions in corporation tax’
The Standard contacted HMRC to ask if it had allowed an industrial-scale tax dodge.
05/21/2018
Africa still leaking billions through tax evasion
They do this with the help of professional tax experts, hired by banks, financial advisory or asset management companies and firms providing professional services. The service goes by many innocuous names, including transfer pricing.
05/21/2018
CRACKDOWN: Offshore hell for Gib’s fiscal fraudsters
The free riding foreigners were said to be living in luxurious residences on the Costa del Sol but were registered on The Rock to avoid paying income and capital gains tax.
05/21/2018
Breaking Bad to the Paradise Papers: all you need to know about money laundering
The art of hiding money from the taxman is under threat from laws demanding greater transparency
05/21/2018
Bitfinex’s tax warning sparks angry responses
Bitfinex is now requiring users to give their tax information so that it can send it to BVI which will exchange it with your country's tax authorities.