Responding, it said, to pressure from foreign financial institutions, the US today unveiled a less onerous version than it has previously of regulations covering the implementation of FATCA, its controversial new law aimed at cracking down on offshore tax evasion.
Tottenham Hotspur manager Harry Redknapp and co-defendant Milan Mandaric have been cleared of tax evasion.
The UK has extended its Liechtenstein Disclosure Facility tax scheme, whereby taxpayers with undeclared offshore assets in Liechtenstein institutions may reveal them to the Revenue in return for reduced penalties, by just over a year.
Harry Redknapp’s past week in court where yesterday he was accused of telling a pack of lies possibly could not have gone much worse.
As FATCA watchers around the world keep checking their smartphones for news that the final guidance on the incoming US legislation has been issued, some experts are doubtful that the US Treasury will be able to keep to its recently-stated vow to try to make things easier for foreign financial institutions that will be affected.
HM Revenue & Customs has overhauled the way it deals with investigations into the most serious cases of tax fraud.
Bowing to pressure from foreign governments, financial institutions and expatriate Americans around the world, the US is seen to be planning to make significant changes to its unpopular FATCA reporting requirements, which are due to take effect in 2013.
Three British men have been jailed for defrauding Swiss private bank EFG of 22m.
The association representing Guernsey pension providers on Wednesday submitted its response to a package of changes HM Revenue & Customs has proposed to make to the legislation governing QROPS, taking issue as expected on an element of the plan known as Condition 4.
The Irish Fiscal Advisory Council has today published its recommendations for new fiscal rules aimed at ensuring that Ireland avoids the type of imbalances that have been a feature in recent years and caused it to seek a bail out from the International Monetary Fund.
Harry Redknapp, manager of the Tottenham Hotspurs football team, repeatedly denied that two payments at issue in his offshore tax evasion case were bungs, a London jury was told on Tuesday.
Harry Redknapp, manager of the Tottenham Hotspurs football team, used his dogs name and the year of his birth to identify a secret bank account he opened in Monaco to hide bungs he received, a London court was told yesterday on the opening day of his trial into alleged tax evasion.
