After years of deliberation and debate spanning two administrations, the Tax Information Exchange (United States of America) Bill, 2016, also known as the Foreign Account Taxpayer Compliance (FATCA) Bill was passed in the Senate on March 7, 2017. This following its unanimous passage in the House of Representatives, two weeks...
Lawmakers want to ease the tax bite on most short-term rentals, but agreements made through Airbnb and similar marketplaces would still face 12 percent levy A new state tax meant to help level the playing field for hotels and motels amid rising competition from online rental marketplaces like Airbnb may...
ISLAMABAD: Pakistan and Bulgaria on Tuesday signed an agreement to get rid of double taxation and cooperate in preventing tax evasion as a state delegation from the European Union member country concluded its two days visit. The Federal Board of Revenue (FBR) Director General and Deputy Minister of Economy Bulgaria...
Section 7609(f) of the tax code allows the Internal Revenue Service to use a “John Doe” summons when the target is unknown. It has been used successfully by the IRS against banks and other financial institutions to find offshore accounts. Now, a district court in the Western District of Texas...
The Anderson County Assessor’s Office this month discovered that a Greenville County leader who owns a home on Hartwell Lake in Anderson underpaid by about $3,900 a year on his property taxes between 2009 and 2018. Calling it an oversight, Greenville County Councilman Ennis Fant said he would work with...
India gaming giant Delta Corp. saw a substantial selloff if its shares last week after reports started surfacing that the country’s government could be investigating the company for possible tax evasion. Only on Friday, the amount of shares dropped 12% as shareholders became nervous and started looking at ways to...
Secretary of Foreign Affairs Teodoro Locsin Jr. had his introductory visit to Singapore on May 7 to 10 at the invitation of Minister for Foreign Affairs Dr. Vivian Balakrishnan. Locsin called on Prime Minister Lee Hsien Loong on May 8 where they both reaffirmed the warm and longstanding relationship between...
In our April 21 article, we discussed Revenue Regulations (RR) 4-2019, the implementing rules and regulations covering the Tax Amnesty on Delinquencies (TAD) under Republic Act 11213, the “Tax Amnesty Act of 2019.” The regulations took effect on April 24, 2019. Under the TAD, any person may enjoy the benefits...
Investigation is linked to Panama Papers and part of money laundering allegations Eleven banks and eight private homes and offices across Germany have been raided by police and tax investigators as part of a wide-ranging investigation into tax evasion. The raids, which began at dawn on Wednesday and went on...
Hassans has held seminars, attended by close to 200 people, aimed at clarifying the key points of the recently signed tax treaty. Three main takeaway points were discussed in particular Hassans summarised them as follows: Takeaway #1: It doesn’t matter whether or not you are registered in Spain – whether...
Finance minister AHM Mustafa Kamal has said that the foreign companies will be required to have local partners for doing business in Bangladesh as the government wants to bring them under the tax net. ‘No foreign company can do business alone here any longer,’ he told reporters on Thursday after...
