Category: Deutsche Bank

Taxpayer Advocate Urges IRS to Ease FATCA Rules for Americans Abroad

Doing so would get rid of ‘overlapping and duplicative disclosure requirements,’ says advocacy group for Americans abroad The IRS’ taxpayer advocate is urging the tax service to simplify rules for Americans living overseas. Currently, foreign bank accounts must be reported both to the Treasury, in a Report of Foreign Bank… – Continue reading

Taxpayer Advocate Recommends Merging FATCA and FBAR Reporting Rules

The National Taxpayer Advocate has recommended that the reporting rules under the Foreign Account Tax Compliance Act and for foreign bank account reports in effect be merged to simplify the duplicative disclosure requirements that make it difficult for American expatriates to have bank accounts in the foreign countries where they… – Continue reading

DOJ Announces First Non-Prosecution Agreement Under the Swiss Bank Program

On March 30, 2015, the U.S. Department of Justice (DOJ) announced that it reached the first non-prosecution agreement under the Swiss bank program with BSI, S.A. (BSI). BSI, one of Switzerland’s ten largest banks, has agreed to pay $211 million in fines and cooperate in any related civil or criminal… – Continue reading

Canada: Increasing Corporate Penalties And Risk Management (Update To “Seven Corporate Sins As A Source Of Government Revenue And Economic Stimulus”)

Introduction Soft commodity prices, divergent monetary policies across major economies, high unemployment rates and weak world trade have all conspired to slow down global economic recovery over the past seven years. Consequently, governments have had to cut spending as future revenues remain uncertain. This has led governments to look for… – Continue reading

Swiss Banks Strong-Arm Clients in U.S. Tax-Evasion Endgame

Swiss banks, for decades the bastions of secrecy, are preaching the virtue of transparency to their U.S. clients as they try to head off billions of dollars in potential fines for helping Americans evade taxes. Faced with the threat of penalties that could bankrupt some of them, almost 100 of… – Continue reading

European Banking Weekly Notes: HSBC, RBS and Barclays

European bank shares showed notable improvements in prices last week, benefiting from hopes of Greece evading a crisis coupled with continued strength in the U.S. dollar. Reports that Germany is looking to adopt a new law that will boost the capital position of the country’s banks helped Deutsche Bank (NYSE:DB)… – Continue reading

China ‘Through-Train’ Ends Double Taxation For Equity Investors

The Shanghai-Hong Kong Stock Exchange Connected is working out its kinks and investors are taking notice. Hong Kong and Beijing signed a tax treaty on Thursday that ends double taxation for equity traders, which was one of the sticking points for local brokers hoping to buy into China’s massive mainland… – Continue reading

CORRECTION: AS „TRASTA KOMERCBANKA” audited financial report for the year 2014

Riga, 2015-03-31 08:32 CEST (GLOBE NEWSWIRE) — In the audited financial report of AS “TRASTA KOMERCBANKA” has been made some changes in the design of the document. These changes do not affect the important financial information about the Bank. In 2014, Latvia’s GDP grew by 2.4%, and this growth was… – Continue reading

Regulators Increase Scrutiny On Banks Over Tax-Avoidance Derivatives

Bank of America and four other banks have been queried by financial regulators about a complex trading maneuver that allows hedge funds to escape certain taxes. Reuters Financial regulators are heightening their focus on banks involved in complex international trades designed to skirt taxes, the Wall Street Journal reports. The… – Continue reading

Firms prepare for new tax rules as China vows crackdown

Feb 1 (Reuters) – The Chinese government’s vow to increase tax scrutiny of foreign companies has sent firms rushing to tax advisors ahead of the implementation on Sunday of new rules designed to rein in cross-border tax avoidance. Tax professionals and business lobbies alike have welcomed the move as an… – Continue reading

IRS Targets Banks In FATCA Crackdown

The US Internal Revenue Service (IRS) has posted tax investigators to foreign embassies to lead a Foreign Account Tax Compliance Act (FATCA) crackdown on suspected tax evasion. The Asia Pacific financial centres of Hong and Singapore are two of the main targets, according to industry experts. The move follows claims… – Continue reading

Lawmakers push to fast track legislative tax evasion proposals

In the light of new revelations in the Luxembourg tax evasion schemes, some MEPs will push to fast-track the European Parliament’s legislative reports being drafted by the legislature’s economic committee. “The new revelations show this is a European problem that needs a European solution. Citizens and SMEs pay their taxes,… – Continue reading


NEW YORK (InsideBitcoins) — Federal prosecutors with the U.S. Attorneys Office in Manhattan are suing Deutsche Bank, stating that the German bank owes the US Government roughly $190 million in unpaid taxes. The claims of tax evasion stem from gains related to the sale of Bristol-Meyers shares in 2000. Prosecutors… – Continue reading

Deutsche Bank Hit With Tax Evasion Charges

Germany’s Deutsche Bank  dodged over $100 million in federal taxes, according to allegations in a lawsuit filed by the U.S. Attorney’s office in the Southern District of New York Monday afternoon. “Through fraudulent conveyances involving shell companies, Deutsche Bank tried to make its potential tax liabilities disappear. This was nothing… – Continue reading

Vestager says will use ‘Luxleaks’ documents in EU tax probe

The European Commission will use the ‘Luxleaks’ documents uncovered by investigative journalists three weeks ago in its ongoing investigation of tax avoidance at the European level, Margrethe Vestager, the EU competition chief, said on Thursday (20 November). The documents, known as the ‘Luxleaks’, showed that more than 300 companies, including… – Continue reading

Put Another Notch in the DOJ Gun

In the history of the old west when gun fighters survived a gun fight they might put a “notch” in their pistol as a badge of honor. Well the U.S. Department of Justice can put another notch in its weapon of choice, threat of prosecution” because Deutsche Banks’ Swiss unit… – Continue reading