NRI taxpayers to benefit from Modi’s transparent platform
‘Our effort is that our tax system should be seamless, painless and faceless,’ he said
Voluntary Disclosure
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UK taxpayers opting for voluntary fraud disclosure scheme
But it’s not for those wanting to admit errors, mistakes or avoidance schemes where there is no fraud
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Panama Papers help S Africa disclosure scheme hit ZAR3.3bn
South African taxpayers have fessed up to unauthorised foreign assets and income worth ZAR3.3bn (£200m, $278m, €224m), some with links to the Panama Papers, under the country’s special voluntary disclosure programme (SVDP).
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Canada professionals hit out at stricter voluntary disclosure
Plans for significant changes to Canada’s voluntary tax disclosure programme (VDP) have been criticised by trade groups representing the country’s lawyers and accountants.
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US court upholds IRS penalty on US expat demanding tax refund
A US court has dismissed a complaint by an American citizen residing in Canada who claimed to have paid an unconstitutional penalty for failing to file the fiscal documentation required for his offshore business.
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Clock ticking for South African tax amnesty
Taxpayers in South Africa have less than a month to come clean and regularise any undisclosed or unauthorised foreign assets or income before the country’s Special Voluntary Disclosure Programme (SVDP) ends on 31 August.
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Italian tax police demand details of 10,000 Swiss accounts
Italy’s tax police have asked Switzerland’s Federal Tax Administration for information regarding €6.7bn (£5.9bn, $7.7bn) that has been deposited in the country by Italian citizens.
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Jersey opens tax disclosure amnesty
Jersey is running a voluntary disclosure scheme giving islanders the opportunity to tell the taxman if they have made a mistake or failed to declare income without having to pay extra penalties, ahead of tougher sanctions that may be brought in next year.
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Only 15 in Ireland disclose offshore assets as deadline looms
Just 15 taxpayers have voluntarily declared offshore assets to Ireland’s tax authority since finance minister Michael Noonan announced plans to take tougher action to tackle offshore tax evasion in his October 2016 Budget.
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Canadians using offshore tax amnesty to name advisers
Canadian taxpayers wanting to use voluntary disclosure programmes (VDP) should have to identify advisers who helped them avoid paying tax, the Canada Revenue Agency’s (CRA) Offshore Compliance Advisory Committee has recommended.
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Breaking down S. Africa’s Special Voluntary Disclosure Programme
A great number of people are eligible under the South African government’s special voluntary disclosure programme, but not everyone is.
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Leniency offered to Norwegians confessing links to Panama
Norway’s economic crime authority has set up a dedicated phone number to give those with undeclared offshore assets linked to the Panama Papers the opportunity to come forward voluntarily and face lesser charges.