Search Results for: tax transparency
Isle of Man removed from Colombian Tax ‘Blacklist’
October 20th, 2014
Colombia has removed the Isle of Man from its offshore blacklist, recognizing its commitment to the international exchange of tax information. The move recognizes that the Isle of Man and Colombia have both joined the OECD Convention on Mutual ...
Monaco Signs OECD Multilateral Tax Convention
October 15th, 2014
Monaco has become the 84th jurisdiction to commit to strengthen international tax cooperation through its participation in the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. Welcoming the signing by José Badia, Monaco’s Minister for Foreign Affairs and ...
$20 Billion Property Trusts in India halted by Tax Rules
October 14th, 2014
The Indian government has announced rules for setting up real estate investment trusts, vehicles that may spur $20 billion of property development. None of the money will be spent unless the country’s tax code is revised. “REITs cannot take ...
Revenue & Customs set to miss target for prosecution of tax evaders
October 13th, 2014
Tax authority set a target of 1,165 people a year by 2014/15, but analysis of the last tax year shows it prosecuted just 795. HM Revenue and Customs has fallen behind in its pursuit of criminal prosecutions for tax ...
Mauritius urge for transparency to have Africa Investment
August 12th, 2014
Navinchandra Ramgoolam, The Prime Minister of Mauritius has highlighted the importance that African leaders should establish transparent legal structures for having foreign investment. Ramgoolam was speaking at the US-Africa Leaders’ Summit in Washington, chaired by US President Barack Obama. ...
OECD Releases New Tax Info Exchange Standard
July 23rd, 2014
The Organisation for Economic Cooperation and Development (OECD) on July 21, 2014, released its new global Standard for Automatic Exchange of Financial Account Information in Tax Matters, hailing the move as another important step towards greater tax transparency and ...
Juncker faces dilemma over EU tax probe into Grand Duchy
July 9th, 2014
Foot-dragging by Luxembourg over an EU probe into questionable tax deals for multinational corporations has created a potential conflict of interest for the Grand Duchy’s former premier who is set to head the EU’s executive branch. Jean-Claude Juncker, whose ...
US Foreign Account Tax Compliance Act Takes Force
July 3rd, 2014
In what the United States Administration has called an “effort to crack down on tax evasion and reduce the tax gap,” the Foreign Account Tax Compliance Act came into effect on July 1. Enacted in March 2010, FATCA adds ...
Offshore Tax Crackdown Opens With 30% Penalties for Banks
June 30th, 2014
The Internal Revenue Service is about to get an unprecedented look at bank accounts and investments U.S. citizens hold abroad, through a law that is making it harder to hide assets from the tax collector. Tomorrow, the U.S. government ...
Money Moves, India Tax Evaders, Credit Suisse: Compliance
June 10th, 2014
The U.S. Treasury Department said it sets limits while giving the nation’s intelligence agencies access to reports that banks file on suspicious or large money moves by customers, including information about Americans. The Treasury, saying it was responding to ...
