The governments of Argentina, Panama, Paraguay and Uruguay have joined forces to create a Latin American initiative to tackle tax evasion and corruption by making sharing and making better use of the information exchanged under international tax transparency standards. The countries have agreed to “consider the possibility” of making a… – Continue reading
The governments of Argentina, Panama, Paraguay and Uruguay have joined forces to create a Latin American initiative to tackle tax evasion and corruption by making sharing and making better use of the information exchanged under international tax transparency standards. The countries have agreed to “consider the possibility” of making a… – Continue reading
The comprehensive Double Taxation Convention between Uruguay and the United Kingdom has taken effect from 1 January 2017. The United Kingdom and Uruguay signed a convention to avoid double taxation and prevent fiscal evasion related to taxes on income and on capital on 24 February 2016 in Montevideo. The document… – Continue reading
Switzerland has signed declarations to exchange tax information automatically with Brasil, Mexico and Uruguay and Mexico in coming years, but the deals must still go before Swiss parliament for approval. Under the declarations, banking information would be collected from 2018 and exchanged by 2019, the State Secretariat for International Financial… – Continue reading
The UAE has signed an agreement on the avoidance of double taxation with Argentina with the aim of boosting expanding joint economic partnerships. The agreement was signed by Obaid Humaid Al Tayer, Minister of State for Financial Affairs, and visiting Argentina’s Vice President Gabriela Michetti, in the presence of Fernando… – Continue reading
Gov’t sends bill to Congress to force banks to share account data automatically Described by government officials as a “lethal blow” to bank secrecy, Uruguay has sent a bill to Congress that will force banks to automatically provide the DGI tax bureau information on the accounts held by individuals and… – Continue reading
At the recent G20 meeting in China, finance ministers stressed their support for greater tax transparency, calling for a report from the OECD on the implementation of automatic exchange of information before the end of the year, and stating that by July 2017 it wants a list of non-compliant jurisdictions… – Continue reading
A further five countries have signed the OECD’s Multilateral Competent Authority Agreement for the automatic exchange of country-by-country (CbC) reports, bringing the total number of signatories to 44. The Agreement allows all signatories to bilaterally and automatically exchange CbC reports with each other, as contemplated by base erosion and profit… – Continue reading
Jamaica and Uruguay today signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and Brazil deposited its instrument of ratification of the Convention on the occasion of the launch of the OECD’s Latin American and Caribbean Regional Programme and the OECD Ministerial Council Meeting. Jamaica and Uruguay became… – Continue reading
Tax avoidance on a grand scale is nothing new – the US President Barak Obama has led the way in tackling the issue head on with the Foreign Account Tax Compliance Act (FATCA) since 2010. FATCA demands non-American financial institutions should hand over details about accounts and investments controlled by… – Continue reading
Twenty Caribbean and Latin American nations have been named by the U.S. as “major money laundering” countries in the 2016 International Narcotics Control Strategy Report (INCSR) from the U.S. State Department released Wednesday, Mar. 2, 2016. A major money laundering is defined by statute as one “whose financial institutions engage… – Continue reading
The organization’s new ambassador in the Brazilian capital Brasília claims trade and mutual investment between Arab countries and Brazil can be worked on. São Paulo – Newly appointed to represent the Middle East and North Africa countries in Brazil, the ambassador of the League of Arab States in the national… – Continue reading
It’s been proved that the Argentina international did not receive money for the matches A Barcelona judge has archived the case against Lionel Messi regarding a claim he committed tax fraud in relation to six charity matches he participated in in 2012 and 2013, concluding that the Argentine international did… – Continue reading
There are a variety of benefits to moving offshore, yet few would argue the assertion that tax neutrality is paramount among them. As anyone familiar with the phrase “tax haven” would surely recognize, many countries offer strongly favorable tax terms as an incentive to draw new business. Written by CT… – Continue reading
The Department of Justice announced today that Cornèr Banca SA (Cornèr) and Bank Coop AG (Bank Coop) reached resolutions under the department’s Swiss Bank Program. The Swiss Bank Program, which was announced on Aug. 29, 2013, provides a path for Swiss banks to resolve potential criminal liabilities in the United… – Continue reading
The Brazilian Government has submitted to Congress four tax information exchange agreements (TIEAs) concluded with Uruguay, Jersey, Guernsey, and the Cayman Islands, Brazil’s Ministry of Finance said on November 11, 2015. Congress will also consider a protocol to expand and upgrade provisions for the exchange of information with India in… – Continue reading
Lionel Messi wants a staggering £600,000 a week to play in the Premier League. The four-time World Footballer of the Year is open to a move to England after falling foul of the tax authorities in Spain. But the Barcelona superstar’s staggering demands look to have priced him out of… – Continue reading
On November 13, 2015 the UK HM Revenue & Customs (HMRC) published a policy paper setting out planned negotiations on Double Taxation Agreements (DTAs) and Tax Information Exchange Agreements (TIEAs). According to the policy paper HMRC will begin negotiations on double taxation agreements with: • Nepal • Romania • Trinidad… – Continue reading
Presidency sent to Congress ratification of treaties with Jersey, Guernsey, the Cayman Islands and Uruguay; text follows the G20 guidelines The Presidency referred for evaluation of Congress four agreements for the exchange of tax information (TIEA, which stands for the English term “Tax Information Exchange Agreement”) entered into with Uruguay,… – Continue reading
On December 29, 2014, Uruguayan Congress ratified the Tax Information Exchange Agreement entered into between Uruguay and Brazil (“the TIEA”). The TIEA is patterned after the OECD Model. The Contracting Parties undertake to cooperate with each other through the exchange of any information which might be foreseeably relevant for tax… – Continue reading
ABU DHABI: President His Highness Sheikh Khalifa Bin Zayed Al Nahyan has issued a number of federal decrees with respect to ratifying agreements between the UAE and a number of friendly countries and transferring, appointing and promoting a group of diplomatic corps members. The decrees have been published in the… – Continue reading
“Uruguay has now definitely earned its long-time nickname — the Switzerland of Latin America.” That’s what I wrote several months ago during my first visit to this small, south Atlantic costal country wedged between Brazil and Argentina. For the last week, I have been enjoying my second visit to Uruguay,… – Continue reading
Spanish politician Alberto Garzon, who is a member of the Communist party, suggests there is no chance Barcelona forward Lionel Messi will receive a prison sentence if he is found guilty of tax evasion. Garzon implies the player’s stature will see any punishment limited to a payment he’s already made…. – Continue reading
Cross border tax fraud and tax evasion by High Net Wealth Individuals (HNWI) are serious problems for many jurisdictions. For many years exchange of information between countries has been solely upon request. In practise this procedure is not efficiently working as it requires foreseeable relevance, thus ‘fishing’ for information is… – Continue reading
Argentina has sent requests for information to tax authorities in the Virgin Islands, Uruguay and Bermuda, according to a Reuters report. This comes as Argentina wants HSBC Holdings Plc to repatriate some $3.5 billion that it says the bank’s Argentine branch moved offshore to help clients evade taxes and move… – Continue reading
When an economist presents his opinion to the public on any subject he should be asked to swear, similar to what witnesses do in a court trial, that he will follow Henry Hazlitt’s Lesson (Economics in One Lesson – Henry Hazlitt – 1946 – Harper & Brothers): “The art of… – Continue reading
SINGAPORE: Singapore has signed agreements with France and Uruguay for avoidance of double taxation (DTA). In the agreement with France, the revised DTA offers improved terms for businesses, such as lower withholding tax rates for dividends and includes anti-abuse provisions. The signing took place in Singapore between Singapore Deputy Prime… – Continue reading
Money from charity games featuring Barça star was sent to Curaçao, Civil Guard says Messi charity games investigated for link to drug traffickers Charity soccer matches organized under the name of Argentinean star Lionel Messi in four countries in 2012 and 2013 raked in hundreds of thousands of euros that… – Continue reading
With the city-state revising its earlier avoidance of double taxation agreement with France and signing a new one with Uruguay recently, a boost in cross-border trade is inevitable. Singapore (PRWEB) January 22, 2015 In what can be termed as two important milestones in Singapore’s trade relations with Europe and Latin… – Continue reading
Costa Rica’s going under the magnifying glass for the next two weeks as international money laundering experts comb through the country’s books. President Luis Guillermo Solís declared the audit from the Financial Action Task Force of Latin America (GAFILAT) a subject of national interest in Monday’s edition of the official… – Continue reading
These crimes hinder the development of societies, prevent strengthening the legitimacy of democracy SANTIAGO — Corruption and tax evasion are flagrant violations of human rights in Latin America, where they contribute to inequality and injustice in the countries of the region, according to studies and experts consulted by IPS. “Tax… – Continue reading
Barcelona and Argentina star Lionel Messi is to face trial for alleged tax evasion, a Spanish judge has ruled. The judge rejected a prosecution recommendation to drop the charges on the grounds the player’s father was responsible for his finances. Messi and his father Jorge are accused of defrauding the… – Continue reading
There is nothing illegal about tax planning. Yet some things are legal while others are not, and the lines can sometimes get fuzzy. Add to that the fact that some people go to extraordinary lengths to avoid paying taxes, and it can be a recipe for disaster. Increasingly, if you… – Continue reading
Argentina’s tax agency head is meeting FIFA President Sepp Blatter today to tell him how soccer teams are evading taxes in the $3.7 billion player trading market. Ricardo Echegaray has traveled to the soccer ruling bodyâs headquarters in Zurich to inform Blatter that his agency has detected techniques used by… – Continue reading
12 March 2014: In its 2013 Annual Report, the Luxembourg Direct Tax Authorities reported that they have negotiated new tax treaties with Hungary, New Zealand, the UK and Uruguay. It is also reported that 659 exchanges of information upon request, spontaneous information exchanges and automatic exchanges of information have been… – Continue reading
