Honduras joins “Inclusive Framework on BEPS” addressing taxation of multinational groups
Honduras becomes 136th country to join “Inclusive Framework on BEPS” ... - Continue reading
Category: Honduras
Recent OFAC Designations Reflect Coordinated Money Laundering Focus
On November 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the designations of Altaf Khanani Money Laundering Organization (Khanani MLO) and Al Zarooni Exchange pursuant to Executive Order 13581, the transnational criminal organization designation authority. OFAC designated Khanani MLO as a transnational criminal organization[1]… – Continue reading
The Problem With Banks
“What’s the best way to rob a bank? Start one.” Many people have heard that old saw. But it’s no longer accurate. The best way to rob a bank is to control a government … any old government will do these days. It wasn’t always like that. You see, for… – Continue reading
Still Broken: major new report on global corporate tax cheating
“In 2013 the OECD, supported by the G20, promised to bring an end to international corporate tax avoidance which costs countries around the world billions in tax revenues each year. However, with the recently announced actions against corporate tax dodging, G20 and OECD countries have failed to live up to… – Continue reading
G20 among biggest losers in large-scale tax abuse – but poor countries relatively hardest hit
Headline: G20 among biggest losers in large-scale tax abuse – but poor countries relatively hardest hit G20 countries are the biggest losers when US multinationals avoid paying taxes where they do business. This is the main finding of a new report on the global tax system, ‘Still Broken,’ released by… – Continue reading
U.S. missing out to corporate tax havens
U.S. companies moved $500 billion to $700 billion in profits to countries with low or no corporate tax rates in 2012 alone, according to new research published by tax reform campaigners Tuesday. Tax avoidance on such a large scale means the U.S. accounts for about 71% of profits worldwide that… – Continue reading
The Regulation of the Law Regulating Transfer Pricing
The Regulation of the Law Regulating Transfer Pricing was published last month and is based on the principle of free competition (arm’s length) where transactions between related parties should be carried out at market prices, i.e. those used in comparable transactions between independent parties in similar conditions. The regulation determines… – Continue reading
Four Things You Need To Know About FATCA
Navigating the murky waters of the Foreign Account Tax Compliance Act (FATCA) can be tricky. U.S businesses and individuals transacting in Latin America need to adhere to the requirements and regulations imposed by the fact. Here are four things every U.S business and individual needs to know about FATCA. Tax… – Continue reading
HONDURAS MAKES CARLOS SLIM PAY ITS TAX
The multinational companies in Latin America demand security, efficient services, infrastructure and good educational standards, but they are not very willing to contribute themselves by paying their fair share of tax. Honduras is a case in point, and is one of the most unequal countries on the continent. The government,… – Continue reading
Honduras: transfer pricing in foreign companies
The Executive Directorate of Revenue has announced that as part of the changes in the audit and tax collection system, it will oversee the transfer prices of companies headquartered abroad. In addition to the implementation of electronic billing and other changes that aim to improve the supervision of tax collections,… – Continue reading
FATCA – Which Countries Are In And Out
FATCA – Which Countries Are In And Out The controversial US Foreign Account Tax Compliance Act (FATCA) law is set to start from July 1, 2014, so with less than 21 days to go, here’s a look at which countries are in and who is outside of the tax network…. – Continue reading
What would joining the OECD mean for Costa Rica?
The Organisation for Economic Co-operation and Development formally invited Costa Rica to apply as a candidate for membership this week, five years after it began its push to join the exclusive club of developed economies. The news of Costa Rica taking one more step closer to joining the league of… – Continue reading
101 Countries Sign Up For FATCA Network
Foreign Account Tax Compliance Act (FATCA) has been in force for a month and still more countries are joining the tax network. So far, 101 countries and financial jurisdictions have either signed or agreed to join FATCA. FATCA is aimed at identifying US taxpayers with offshore bank accounts and investments. Overseas… – Continue reading
Honduras, Ecuador Sign Tax Agreement
August 5 — Honduras signed an agreement with Ecuador on mutual administrative assistance and cooperation and the exchange of tax information, the Honduran Ministry of Foreign Affairs and International Cooperation announced on July 31. The agreement was signed in the Honduran capital Tegucigalpa by Miriam Estela Guzman, the head of the… – Continue reading
