FATCA four countries that stood up to
International Adviser takes a look at four countries that refused to take US information sharing agreements lying down through their use of intergovernmental agreements.
Tax & Regulation
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swiss agree to french tax information requests
France and Switzerland have added a rider their tax information exchange agreement to allow France to request information about unidentified Swiss bank account holders.
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New era begins as FATCA is introduced
The controversial US Foreign Account Tax Compliance Act (FATCA) has been introduced around the world today, marking a new era for tax planning.
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Tax exchange agreements are redundant
Isle of Man chief minister Allan Bell has labelled tax information exchange agreements (TIEAs) ‘redundant’ and defended the lack of any new double taxation agreements (DTAs) signed by the island since the one with Luxembourg in April last year.
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Spotlight on FATCA
After four long years of preparation, early resistance and a fair amount of controversy, FATCA, the most far reaching piece of tax evasion legislation ever to have been enacted, has come into force.
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Restrictive US tax agreement awaits
A last minute, state controlled tax sharing agreement between the US and Russia is currently awaiting president Vladimir Putins approval, after being passed by the Federal Assembly of Russia last Friday.
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Tax expert labels HMRC proposals unconstitutional
Proposals by HM Revenue & Customs to charge contentious tax payments up front have been called “unconstitutional” by a senior figure at an international law firm.
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irs targets swiss banks with penalty
IRS commissioner John Koskinen has announced a revised version of the amnesty programme aimed at encouraging US citizens to declare offshore bank accounts, which includes tough penalties for wilful non-disclosure.
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Nigel Green slams call to prosecute those
DeVeres chief executive Nigel Green has slammed calls for professionals, including financial advisers, to be prosecuted for advising on tax avoidance schemes.
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New Zealand wangles sharing exemptions in
New Zealand has signed a unique intergovernmental-agreement (IGA) with the US allowing it to keep low risk accounts exempt from disclosure after the introduction of FATCA next month.
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law society call for body to veto tax policy
The City of London Law Society has called for an independent body to be set up with the power to veto tax legislation as a way to avoid ‘huge damage’ to the UK tax regime’s reputation for stability.
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fca issues far-reaching client money changes
The UK’s Financial Conduct Authority has signalled a sharper regulatory focus on holding client money with the publication of its policy statement today, and the prospect of other jurisdictions following suit.