07/13/2014
Financiers may grumble that the United States is acting like an imperial power in punishing foreign banks for dealings far beyond U.S. territory, but in the end they are more likely to bow to Washington than kick against its dollar muscle.
07/13/2014
Cash reward system gives tipsters up to 15 per cent of the amount in taxes collected
07/11/2014
Tycoons Bruce Gyngell and Edward Lumley set up offshore tax empires
The families of two Australian tycoons figure prominently in a leaked list of clients belonging to the offshore “wealth management” firm Kleinwort Benson, the Guardian can reveal.
07/11/2014
Expats should know that if they need to file under OVDP, the deadline is 04 August. After this date, OVDP penalties will rise from 27.5% to 50% if your account is held in one of the 10 banks who are cooperating with, or are identified in, a US court filin
07/09/2014
More than 20,000 client names of Jersey tax haven bank leaked
The group says that George Osborne, UK chancellor, announced in April: “If you’re evading tax offshore, there is no safe haven and we will find you.”
07/08/2014
Information on expats opening offshore accounts to be shared with HMRC
The UK signed its agreement with the US in 2012
07/08/2014
The number of jurisdictions that have a TIEA or Double Taxation Conventions (DTC) with Macau will increase to 19 once Guernsey has signed on the dotted line.
07/07/2014
The FATCA law requires, among other provisions, US citizens living outside the US to report their foreign bank accounts to the Internal Revenue Service.
07/06/2014
Cayman mostly FATCA compliant
The Cayman Islands Banking Association says almost 15,000 of Cayman’s financial institution have registered with the Internal Revenue Service in the United States.
07/04/2014
EU widens tax investigation into multinationals
Luxembourg is used by many multinationals including online retailer Amazon
07/04/2014
States of Guernsey STEPs up
The Income Tax Office introduced a Compliance and Investigation Unit in the late 1980s to address domestic tax evasion and tax avoidance.
07/03/2014
Bahamas : Bank Braces For $2.4m Tax Impact
Bank of the Bahamas incurred a further $2.311 million in loan loss provisions during the quarter to end-March 2014, and Mr McWeeney hinted that more were to come.
07/03/2014
Russian authorities to offer tax amnesty for offshore companies
The Finance Ministry is pushing ahead with its program to entice Russian-owned offshore firms to repatriate capital.
07/03/2014
Spain Agrees With Dominican Republic to Stop Double Taxation
Spain taxes the worldwide income of residents and the Spanish income of non-resident
07/03/2014
They’ve served their purpose by stimulating FATCA, and that period of work was absolutely essential to lay the groundwork for the new global structure of tax information.”
07/03/2014
Australia is to chair the G20 leader's summit in Brisbane in November and Prime Minister Tony Abbott and Treasurer Joe Hockey have put on the agenda discussion of tax evasion and profit shifting.
07/02/2014
A global crackdown on offshore tax havens following the financial crisis and a 2008 wrangle with Germany over stolen bank data have forced the principality to come clean over its tax policies
07/02/2014
FACTA imposes due diligence, information reporting and control obligations on non-US financial institutions for certain US persons who maintain relationships with these institutions.
07/01/2014
Offshore Crackdown Kicks Off With 30 Percent Penalties for Banks
The Internal Revenue Service is about to get an unprecedented look at bank accounts and investments U.S. citizens hold abroad, through a law that is making it harder to hide assets from the tax collector.
07/01/2014
FATCA will provide an effective framework for our institutions and regulators