Category: Europe

FATCA Registration Delayed

Local commercial banks and near banks regulated by the Bank of Jamaica (BOJ), as well as other entities regulated by the Financial Services Commission (FSC), which are counted as Foreign Financial Institutions (FFIs) under US law, should now be engaged in registering online with the United States Internal Revenue Service… – Continue reading

US and UK in a fiddle over tax havens

The U.S. and Britain have got themselves in another fine mess over populist measures against tax havens that don’t work and smack of hypocrisy Obama has set off once more on his crusade against foreign tax havens. His tactic is to extend the jurisdiction of the IRS to cover the… – Continue reading

Yahoo’s Irish move may be start of Swiss corporate exodus

Yahoo! Inc is shifting its main European tax base to Ireland from Switzerland, a Reuters examination of company statements and accounts shows, as pressure mounts on the Alpine nation to abolish some corporate tax incentives. The internet search group said the shift reflected a streamlining of its European operations and… – Continue reading

Greece Targeting Tax Dodgers Seeks U.K. Model From Swiss

Greece’s chronic difficulties with tax evasion was a topic of discussion today when Finance Minister Yannis Stournaras met his Swiss counterpart Eveline Widmer-Schlumpf in Athens. “We reiterated that we want the British model” for Greece, Stournaras said after the meeting, referring to a 2011 withholding tax agreement between Switzerland and… – Continue reading

France will not tolerate tax avoidance, says Francois Hollande

France will not tolerate tax avoidance, says Francois Hollande French president Francois Hollande says that “everyone must be in the same competitive situation” French president Francois Hollande speaks during a press conference to present his 2014 policy plans at the Elysee presidential palace. Francois Hollande is making a state visit… – Continue reading

U.S. charges Swiss asset manager in offshore tax fraud case

U.S. prosecutors on Thursday announced they indicted Peter Amrein, a Swiss asset manager, on charges that he assisted U.S. taxpayers in evading millions in taxes by hiding money in offshore trusts at multiple Swiss banks. Prosecutors accuse Amrein, who worked at an unidentified asset management firm, of working with Edgar Paltzer,… – Continue reading

Swiss Bank Secrecy Succumbs To U.S. Tax Enforcers

It is becoming increasingly dangerous to maintain secret offshore accounts. The Department of Justice and the Internal Revenue Service have been engaged in an aggressive program to identify unreported offshore accounts. Kathy Keneally, Assistant Attorney General for Tax recently told tax lawyers at a Phoenix conference that the U.S. government… – Continue reading

CFATF Public Statement

On 20 November, 2013 the Caribbean Financial Action Task Force (CFATF) issued a public statement identifying jurisdictions in the Caribbean Basin region with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies that have not made sufficient progress in addressing such deficiencies. Those jurisdictions are identified as Belize… – Continue reading

Thousands of Britons caught up in tax raid on wealthy foreigners. Chancellor prepares to announce that capital gains tax will be charged on British property sold by overseas nationals and expats

George Osborne, the Chancellor, is preparing to announce that capital gains tax will be charged on British property sold by overseas nationals and expats Thousands of Britons living abroad face being caught up in a tax raid on wealthy foreigners buying and selling property in the UK. George Osborne, the… – Continue reading