hmrc warns swiss accounts of investigation
HM Revenue & Customs is getting ready to send out a second targeted tranche of letters later this month aimed at taxpayers who may be impacted by the UK/Swiss Tax Cooperation Agreement.
Tax & Regulation
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irs watchdog says its offshore voluntary
The Internal Revenue Service has been too hard on those Americans who have come forward in recent years to disclose their unreported overseas bank accounts‚ according to a Congressionally-appointed watchdog.
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blackrock under fire from italian regulator
BlackRock is under formal investigation by Italian securities regulator Consob due to alleged insider trading of shares in Italian oil and gas company Saipem.
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ex ubs banker weil pleads not guilty
A former UBS bank executive pleaded not guilty in a federal court in Florida yesterday to fraud conspiracy charges in connection with a landmark US tax evasion case.
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I had a run in with a cow and nine other
There are valid reasons for filing a tax return late, so says HM Revenue & Customs, it’s just that these ten are not…
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irs unveils latest batch of fatca
The Internal Revenue Service has published a key document aimed at helping foreign financial institutions to report to the US on the overseas accounts of US individuals, as is being required of them by the Foreign Account Tax Compliance Act, which comes fully into force on 1 July.
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us banking lobby urges congress to
Ricardo V, a well-to-do Brazilian executive travels frequently between São Paulo and New York. He does not take one of the many non-stop flights, however. Rather he books a trip with a Miami stop-over. The Miami stop is not about company business, shopping or visiting relatives.
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malta signs up to fatca
Malta has become the latest country to sign a FATCA intergovernmental agreement with the US.
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hmrc tax investigations haul hit
HM Revenue & Customs has beaten its “massively ambitious” target for total revenue raised collected as a result of its tax investigation work by £2bn in the 2012-13 tax year, hitting a new record, UHY Hacker Young reports.
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jersey guernsey and isle of man sign
Jersey, Guernsey and the Isle of Man have today all signed intergovernmental agreements (IGAs) with the US to implement the latter’s controversial Foreign Account Tax Compliance Act.
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plans for single nil rate band for iht on trusts
The UK Government has said it will delay plans to introduce a single nil-rate band for inheritance tax across all trusts, after receiving a high level of industry opposition.
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the start date of isle of mans rdr moved back
The start date of the Isle of Man’s answer to the UK’s Retail Distribution Review has been moved back to the first of February, 2014, from the first of the year, financial advisers, wealth managers and others on the island were informed yesterday.