A Geneva-based group representing Americans living abroad has taken advantage of a US congressional investigation into the Internal Revenue Service to explain how the IRS has taken to targeting Americans living overseas.
David Cameron has asked the leaders of the UK’s overseas territories to come to London on the eve of the G8 Summit later this month, as he seeks to strengthen his position as an enemy of tax evasion.
New reporting requirements set down in draft QROPS regulations HM Revenue & Customs issued last month “will only apply to pension schemes that ceased to be QROPS on or after the date that the regulations come into force”, HMRC has told International Adviser.
HM Revenue & Customs has sought to reduce the complexity of the way inheritance tax trust charges are calculated, in a consultation document released late yesterday in London.
The new reporting requirements set down in the draft QROPS regulations issued last month by HM Revenue & Customs will not apply to schemes that lost their QROPS status before the regulations become law, at least as currently proposed, pension industry sources report.
Now that the UK has its first-ever statutory definition of UK residency for tax purposes, the tax authorities have come up with a tool to help people determine their status.
The European Securities and Markets Authority (ESMA) has approved co-operation arrangements on the supervision of alternative investment funds between EU regulators and 34 jurisdictions across the rest of the world.
The Swiss government said today that it had reached agreement on proposed legislation that would enable the country’s banks to comply with requests by US authorities for information in connection with their tax evasion investigations.
A France-based partner with the Spectrum IFA Group has found what she believes is proof that the French authorities do not expect foreign personal pension schemes with France-resident beneficiaries to report to them on these schemes’ holdings, as is now being required of other types of trusts.
All Maltese pension providers and administrators should meet a 17 June deadline to file an information disclosure document with the French tax authorities on behalf of “any French-resident beneficiaries”, according to a Maltese pension scheme association.
Three professional bodies representing more than half a million tax advisers worldwide have produced a Model Taxpayer Charter of taxpayer rights and responsibilities intended as a blueprint for what a good tax system should contain.
US institutions and individuals are becoming increasingly aware of the existence of the Foreign Account Tax Compliance Act, which received little media coverage in the States until a US senator earlier this month introduced a bill to repeal certain of the act's provisions, arguing that they infringed "upon basic constitutional rights".
