The Internal Revenue Service said that it plans within days to release new forms intended to enable Americans to begin complying with some of the new reporting requirements being brought in by the Foreign Accounts Tax Compliance Act.
Trusts with French interests are being reminded that from 2012 they will be required to make a report to the French tax authorities under new tax laws.
Research from Kneip shows that fund houses have plenty of work to do before their KIIDs documents are fully compliant with what the regulators want to see.
Guernsey pension and financial services industry executives issued statements today expressing confidence that a pending shake-up of the way Qualifying Recognised Overseas Pension Schemes are regulated by the UK will not harm the island’s QROPS industry.
Tax experts with American expatriate clients reacted with considerable interest yesterday to a new IRS clarification that appears to suggest more flexibility, with respect to penalties for failing to file tax returns and Foreign Bank Account Reports (FBARs), than previously had been assumed possible.
Americas Securities and Exchange Commission and the Monetary Authority of Singapore have taken punitive action against several China-based insider traders.
Americans living in Canada who owe back taxes to the US may be about to get a break from the Internal Revenue Service, the Toronto Globe and Mail is reporting, citing as its source the US ambassador to Canada.
Tax agreements signed by the UK and German governments with Switzerland could be in breach of European Union law.
HMRC gained an extra £16.9bn in tax through investigations into avoidance and evasion, a record amount according to UHY Hacker Young.
The FSA has issued a warning against traded life policy investments, saying they should not be promoted to UK retail investors because they are unsuitable for the bulk of them.
Advisers and those of their clients who consider themselves non-resident in the UK for tax purposes are looking forward to knowing, within the next week, the details of the Governments first comprehensive legal definition of residency.
Tax Justice Network, a UK-based anti-tax haven organisation, has launched a campaign aimed at calling public attention to the impact low- and no-tax jurisdictions have on the lives of people living in higher tax countries.
