A deal that would have enabled Germans with undeclared assets in Swiss institutions to pay the back taxes they owe without having their identities revealed is “dead and buried” because of public opposition, Bloomberg has reported.
The Republican Party has formally approved a resolution that calls for the repeal of the Foreign Account Tax Compliance Act.
The Internal Revenue Service has been too hard on those Americans who have come forward in recent years to disclose their unreported overseas bank accounts‚ according to a Congressionally-appointed watchdog.
Ricardo V, a well-to-do Brazilian executive travels frequently between São Paulo and New York. He does not take one of the many non-stop flights, however. Rather he books a trip with a Miami stop-over. The Miami stop is not about company business, shopping or visiting relatives.
Leaders of the UK’s overseas territories have formally stated that they will continue to “play a full part” in tackling tax evasion and fraud, at a summit in London.
The Channel Islands of Jersey and Guernsey have signed 'intergovernmental agreements' on the automatic exchange of tax information with the UK, adding to existing provisions that currently provide for information to be exchanged between the authorities of the two Crown Dependencies and the United Kingdom.
By a two-to-one margin, Switzerland's lower house of Parliament voted late on Wednesday to reject a draft law that would have allowed the country's banks to pass depositors' information to US authorities.
UK accountants are expressing concern over the implications of a recent High Court ruling which appears to suggest that practitioners have an obligation to advise their clients to avoid paying tax.
Australia is to sign a new tax treaty with Switzerland "at the earliest opportunity" as its government joins others around the world in making long standing bank secrecy arrangements more transparent.
A US senator has introduced a bill to repeal "anti-privacy" provisions of the controversial Foreign Account Tax Compliance Act, arguing that FATCA "infringes upon basic constitutional rights".
A US congressman has introduced a bill aimed at deterring the use by American corporations of offshore tax havens, as the effects of an earlier US crackdown targeting individuals FATCA reverberate around the world.
What did Chancellor George Osborne really say in his Budget speech yesterday…and what unremarked-on points lay hidden in the full, 112-page Budget document? We asked some experts…
