European Union states have added ten jurisdictions to a draft tax haven blacklist, including the United Arab Emirates (UAE) and Bermuda, an EU official told Reuters on Tuesday, in a move that would triple the number of listed countries. The measure comes more than one year after the bloc decided… – Continue reading
Guam, American Samoa, Puerto Rico and the U.S. Virgin Islands are included in the European Nation’s updated list of areas that are deemed hot spots for money laundering and terrorism financing. The U.S. Department of Treasury rejected the inclusion of U.S. territories, calling into question the substance of the EU… – Continue reading
The United States Department of Justice has charged four people with crimes allegedly brought to light by the International Consortium of Investigative Journalism’s Panama Papers expose, according to a DOJ announcement published earlier this month. They are the first US criminal charges stemming from the ICIJ’s 2016 investigation, which reported… – Continue reading
The Internal Revenue Service released guidance Wednesday to give tax relief to residents of Puerto Rico and the U.S. Virgin Islands who have evacuated the islands or were unable to return because of Hurricanes Irma or Maria. The relief extends the typical 14-day absence period to 117 days (starting Sept…. – Continue reading
BY DAVID JESSOP— The Caribbean has just 18 congressional working days from Sunday, September 20 to try to have the U.S. Congress address an act naming 17 Caribbean nations as “tax havens”. If passed without amendment, it could have the effect of reputationally damaging the countries concerned with unpredictable trade,… – Continue reading
A former financial services minister yesterday branded as “inconsequential” concerns over the District of Columbia’s (DC) pending ‘tax haven’ blacklisting of the Bahamas and 16 other Caribbean nations. Ryan Pinder, now a senior executive at Deltec Bank & Trust, was responding to concerns raised by Opposition finance spokesman, K Peter… – Continue reading
The Caribbean has just 18 congressional working days from Sunday September 20 to try to have the US Congress or the District of Colombia address an act naming 17 Caribbean nations as “tax havens”. If passed without amendment it could have the effect of reputationally damaging the countries concerned with… – Continue reading
Kenneth Leung (PC,F-Accountancy) explains what he – and the government – are doing to get Hong Kong off the EU’s undeserved blacklisting as a “non-cooperative tax jurisdiction”. Why has Hong Kong been placed on this list? There are ten European countries that have named Hong Kong as a tax haven…. – Continue reading
The OECD has backed Guernsey in its fight against tax haven status, describing the crown dependency’s inclusion on the European Commission’s list of top 30 non-compliant tax jurisdictions as “very surprising”. Monica Bhatia, head of the secretariat of the Organisation for Economic Cooperation and Development’s Global Forum on Transparency and… – Continue reading
