Managers of Wealth Offshore

Taxes:Your Subscription to Democracy

Why tax avoidance can lead to democratic backsliding

The richest 1 percent dodge taxes on more than one-fifth of their income, U.S. study shows

The researchers say that years of IRS funding cuts, combined with the increased sophistication of tax evasion tactics available to the rich, have made shirking tax obligations easier than ever.

Real Property Tax Forgiveness Program

The purpose of this Program is to provide much needed relief to families and business owners adversely impacted by the economic effects of the COVID-19 pandemic

The shocking ways billionaires, highly profitable companies hide their money

With average condominiums selling for over $4 million, Millennium Tower is not only a wealthy residence for the rich, but also a ‘wealth storage unit’ for global capital looking to park itself and hold value.

Tax treaties: OECD publishes 30 country profiles applying Arbitration under the multilateral BEPS Convention

The Arbitration Profiles also allow those jurisdictions to make publicly available clarifications on their position on the MLI Arbitration.

Bahamas Real Property Tax Forgiveness Program

The purpose of this Program is to provide much needed relief to families and business owners adversely impacted by the economic effects of the COVID-19 pandemic

Client Alert: 30 Day Grace Period for 2019 Company Tax Filings

This means that for 2019 company tax returns, late filing penalties and surcharges will only be imposed where the tax return remains outstanding after 30 April 2021.

Canada’s tax treaty MAP inventory increased in 2019, new report shows

The MAP program began 2019 with 147 MAP cases. During the year, 75 new cases were opened, and 60 were closed.

Battle to Overcome Illicit Financial Flows

The magnitude of the resources the world stands to gain by creating financial integrity for sustainable development is enormous.

TCJA Is Not GILTI of Offshoring

Lawmakers also look at the 10 percent deduction for foreign assets that is part of the GILTI calculation and suggest that the deduction and the lower tax rate on GILTI provide incentives to offshore investment and jobs.

IRS chief says increase in enforcement budget would boost tax collection

Rettig said the IRS would be issuing a report on Monday showing that its enforcement efforts needed more than a “body-count” increase but also more specialized agents to go after sophisticated high-income tax filers and offshore accounts.

Australia: Government to close down offshore banking regime

The bill amends Australia’s Offshore Banking Unit (OBU) regime to remove the concessional tax treatment for OBUs

Ayming launches latest Global R&D Tax Incentives Benchmark

To inform its clients and R&D leaders on how different R&D tax regimes compare, the consulting firm started publishing its ‘Global R&D Tax Incentives Benchmark’ four years ago.

Spain to take Gibraltar off tax haven list after treaty enters into force

The agreement also seeks to reinforce cooperation and information exchange to prevent the British Overseas Territory from becoming a magnet for Spanish tax evaders.

Money laundering regime extended to bitcoin from April

Crypto-currency platforms have been accused of being vulnerable to criminal use and terrorist financing activities for years.

Luxembourg Under International Scrutiny Following Tax Haven Accusations

Scandals like the Panama Papers, which connected European shell companies to criminal activities, tax fraud, and money laundering schemes around the world.

Congressional Democrats release bill targeting corporate tax loopholes

In a statement announcing the bill, they said the new legislation would also crack down on the type of illegal tax evasion revealed by the Panama Papers and Paradise Papers leaks.

BARBADOS: Check your tax information ahead of filing season

Lazare also indicated that to access this information, persons should log into their TAMIS account, and follow three steps.

Tax havens - a big challenge

Experts estimate annual global revenue loss of $200b as result of abuse of tax havens

Switzerland responsible for $13 billion in losses to tax evasion globally

The top five jurisdictions are responsible for half of the world’s corporate tax abuse risks.