08/11/2015
Foreign Account Tax Compliance Act
Trustee and fiduciary service providers are subject to FATCA compliance requirements
Tax
08/11/2015
Tax dodgers must come clean
The South African Institute of Professional Accountants is urging local tax dodgers to come clean in the wake of the HSBC scandal.
08/10/2015
Extension to the capital gains tax regime to non-UK residents owning UK residential property
Key point: all qualifying non-residents will have to file a tax return within 30 days of a disposal of a UK residential property
08/10/2015
The OECD takes further steps to putting an end to offshore tax evasion
The OECD has released three new reports to help jurisdictions and financial institutions implement the global Standard for automatic exchange of financial account information
08/10/2015
Revenues surge as global crackdown on tax evasion gathers pace
The Paris-based OECD said last week that many transgressors were facing “the last window of opportunity” to disclose such information.
08/10/2015
Offshore Messenger: Budget changes significantly impact offshore world
In a bid to raise more tax, the UK Summer Budget introduced a number of changes which will significantly impact the offshore world.
08/07/2015
Cyprus aims to be premier destination of choice for HNWIs & businesses by Kevin Halouska
On July 9, 2015, the Parliament voted on the most significant changes in the Cyprus tax system since 2003.
08/07/2015
Brazil tax amnesty plan may struggle to lure back offshore assets
The bill, expected to go to a Senate vote this month, would allow beneficiaries to come clean on two conditions - that they disclose the origins of the funds and pay a 35 percent penalty
08/07/2015
Tax evasion: offshore wealth managers on Sebi’s radar.
Sebi seeking to scrutinize Indian funds held abroad; move could put off some banks looking to build India presence
08/07/2015
Soccer’s Romario Gets Apology After False Offshore Cash Claim
The timing of the Veja article coincided with the start of a parliamentary investigation into alleged corruption at Brazilian soccer’s governing body that Romario is leading.
08/07/2015
Taking offence offshore
On 16 July 2015, the Government issued four consultation documents on the topic of offshore tax, non-compliance and evasion.
08/07/2015
Cyprus: The New Double Taxation Agreement Between Cyprus And Georgia
The new agreement closely follows the 2010 OECD Model Convention, with only minor modifications, and the Protocol to the agreement clarifies the information exchange provisions. Details of the DTA and Protocol are now available, and they are analyzed in t
08/06/2015
CRA targeting mining-sector tax havens
Tax evasion by Canadian companies using offshore havens promises to become election issue
08/06/2015
South Africa: Tax havens not safe for much longer
South Africans with unauthorised funds abroad better get their affairs in order because tighter regulation in tax havens will soon become a harsh reality, a tax expert has warned.
08/05/2015
HSBC cautious on persons with political connections, refraining from opening accounts of US-based Indians
HSBC has been asking all "politically exposed persons" having accounts with the bank to disclose their source of fund and income.
08/04/2015
‘Tax havens will chase out non-compliant taxpayers’
As global efforts to close loopholes intensify.
08/04/2015
The impact of FATCA in the Philippines
Hiding money overseas to avoid taxes has been the long-established practice of some taxpayers. Offshore tax havens (i.e., countries that have low or no taxes and lack of transparency) still exist, making it possible for individuals to evade taxes by not r
08/04/2015
A Staggering $12Tn In Assets Has Been Lost To Global Offshore Industry
The definition of victory for this paper is to review and improve upon existing estimates of the size, growth and distribution of untaxed private wealth protected and serviced by the global offshore industry.
08/03/2015
Thousands of pieces of Scottish land owned by offshore companies
The islands were recently embroiled in a huge tax evasion scandal
08/03/2015
The Global Forum releases new compliance ratings on tax transparency
The Global Forum on Transparency and Exchange of Information for Tax Purposes published new peer review reports today for 12 countries or jurisdictions, moving further ahead with its goal to implement global standards on transparency and exchange of infor