Plans to scrap a class of anonymous shares in Switzerland have been met with fierce opposition and will likely not be passed into law, as three out of four of the nation’s major political parties have criticised the idea.
A reprieve for US expats caught up in changes to overseas corporation tax “opens the door” toward a residency-based taxation, claims Washington-based campaign group American Citizens Abroad.
Accidental Americans face ruin if their estates are not properly structured, a lawyer has warned.
Officials in Zurich reported a three-fold rise in the number of tax evaders voluntarily turning themselves in during 2017, as international regulations requiring Swiss banks to share details of offshore clients takes effect.
Five years after the US introduced stringent regulations that required foreign financial institutions to report the assets of US-domiciled clients, Swiss IFAs tell International Adviser the move has created greater specialisation across the industry and is still having an impact.
Donald Trump’s administration must scrap the Foreign Account Tax Compliance Act (Fatca), deVere Group chief executive Nigel Green has said, as record numbers of Americans renounce their US citizenship.
The US Republican party is reportedly looking to eliminate requirements for citizens abroad to pay taxes both overseas and in the US, according to UK newspaper the Financial Times.
The Republican National Committee (RNC) has urged president Donald Trump to replace citizenship-based taxation, and therefore scrap the Foreign Account Tax Compliance Act (Fatca), in his tax reform package.
A group of US citizens living abroad “lack standing” to challenge the US Treasury Department’s taxes on their foreign bank accounts, the country’s Court of Appeals for the Sixth Circuit ruled on Friday.
Life assurers are having to make big strides to catch up with advisers and mass market retail providers when it comes to digital innovation to meet growing expectations from high net worth individuals (HNWI), according to Lombard International Assurance’s Aidan McClean.
Members of the European Parliament have asked the European Commission to open talks with the US to make data exchange under the Foreign Account Tax Compliance Act (Fatca) reciprocal.
Two senior Republicans have called on the Trump administration to commit to repealing the Foreign Account Tax Compliance Act (Fatca) as they announce plans to overturn the legislation.
