italians protest as redditometro unveiled
A new “strumento” for use by the Italian authorities to track down tax evaders is being likened by critics, including some newspaper columnists, to the tactics of a police state.
Tax & Regulation
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ask the experts my client is returning to the uk
As part of our occasional Ask the Experts series, we have forwarded a question from a UK-based adviser to Andrew Penman, director of private client tax services for PKF (UK) LLP, which deals with a common issue faced by advisers with expatriate clients: how best to advise those preparing to return to Britain.
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cayman islands plans overhaul to increase
Offshore financial centre the Cayman Islands, long famed for its secrecy, is reportedly planning to open thousands of companies and hedge funds domiciled there to increased scrutiny.
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long-awaited final fatca regulations released
The US Treasury and Internal Revenue Service last night issued the final regulations detailing how the Foreign Account Tax Compliance Act is to be implemented, ending weeks of speculation.
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hmrc closes tax evasion scheme abusing medical
HM Revenue & Customs has successfully challenged in court a scheme which planned to exploit rules established to help medical research in order to evade tax.
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iom tax strategy to keep zero ten status
The Isle of Man Government has decided to retain the zero-10 tax status for the international life companies as part of its taxation strategy for the next four years.
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hmrc to add 100 inspectors to team targeting
HM Revenue & Customs is to add 100 inspectors to its 200-strong Affluent Compliance Team, a team set up in 2010 to target wealthy Britons living in the UK who may be concealing money from the Revenue.
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pkf to brits with swiss accounts
Just because you don't have a UK tax liability owing on your Swiss bank assets does not mean you are safe to ignore the reporting requirements imposed by a new UK-Swiss tax deal that took effect on 1 Jan.
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markit launches automated fatca tool in
Financial information and services company Markit has, in partnership with Compliance Technologies International, developed a tool to help non-US domiciled asset managers and other financial institutions deal with the upcoming implementation of the FATCA regulations.
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fatca compliance products unveiled by markit
As the date when non-US financial services companies will begin having to comply with the new FATCA regulations approaches, growing numbers of companies are introducing products aimed at helping them to do so.
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hmrc makes 640 requests from foreign govts
HM Revenue & Customs has made 640 requests for information on individual’s tax affairs to overseas governments in the 2011 2012 tax year so far, according to research from international law firm Pinsent Masons.
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oldest swiss bank to close after 74m fine for
The oldest Swiss bank is to close, having been fined $74m by the US authorities, after pleading guilty to charges of assisting US citizens avoid paying tax.