top twenty tax systems in the world
The United Arab Emirates ranks the best in the world as a tax system where medium sized businesses can flourish, according to tax and accountancy practice PwC’s highly regarded 2012 global tax league report.
Tax & Regulation
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hmrc shuffles staff handling ldf disclosures
HM Revenue & Customs has shuffled its team of agents who handle Liechtenstein Disclosure Facility disclosures, to the frustration of some specialist tax experts who say they are now having to start from scratch in developing a working relationship with their counterparts at the Revenue.
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new us money transfer rules seen welcome
New US regulations governing the way US institutions send money abroad on behalf of individuals are being cautiously welcomed by advisers and currency trading experts outside the US. But some worry they could be too onerous, at least in the beginning.
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hmrc struggles to deal with tax avoidance
HM Revenue & Customs is currently investigating 41,000 cases of tax avoidance in the UK with an estimated £10.2bn at stake, according to a detailed report conducted by the National Audit Office, which said “there is little evidence HMRC is making progress in preventing the sale of highly contrived tax avoidance schemes”.
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turning away us clients will not save you
The Chartered Institute for Securities & Investment (CISI) has accused the US of "behaving like a bully" in imposing unfair costs on UK investment managers through the implementation of FATCA.
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fund groups unprepared for aifmd
40% of asset managers are unprepared for the impact of AIFMD, which will become law in every EU member state by July 2013, according to research from specialist fund service provider KNEIP.
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us unveils 2nd model fatca iga
The US Treasury has quietly unveiled what it is calling its "FATCA Model 2 template" agreement, as an alternative to a FATCA "intergovernmental model agreement" released earlier this year.
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time has come for a general tax amnesty
It is time HM Revenue & Customs accept that a general amnesty for tax evaders should be put in place, according to Gary Heynes, private client group partner at chartered accountants, Baker Tilly.
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swiss seen unlikely to fully end negotiated tax
Recent press reports that the Swiss may be moving closer to ending their “negotiated single-sum tax agreement” system for wealthy individuals are being discounted by financial advisers there, and other experts.
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hmrc warns tax evaders time running out
HM Revenue & Customs is warning UK residents with Swiss bank accounts that the “days of hiding money to evade tax are over” as the imposition of new tax laws on 1 January draws ever closer.
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fund regs will impact negatively on advisers
One third of financial advisers believe the current overhaul of fund distribution regulation in a number of jurisdictions will impact on them negatively, according to the results of a poll conducted by International Adviser.
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twenty ways the irs will find your yankee clients
London-based David Treitel, managing director of American Tax Returns Ltd, has been advising American expatriates on their tax affairs for more than 25 years.