Offshore bank accounts have kept their popularity among British expats with nearly half holding these accounts for their savings, The Telegraph reports. Alternatives such as offshore savings plans are held by only one in five expats while less than one in 10 chose to invest through offshore insurance bonds. These… – Continue reading
1. NON-TAX ISSUES 1.1 Domestic law 1.1.1 Briefly describe your legal system and its origins Canada is a federal state, with legislative powers divided between the federal and provincial governments. The federal government has legislative jurisdiction over issues concerning Canada as a whole, including foreign affairs, international trade, banking, telecommunications,… – Continue reading
MONTREAL — Changing a liquidator and the tax consequences of owning two properties were among the topics raised in the latest batch of reader questions. Here’s what they wanted to know. Q: “My father recently passed away. He named a financial institution as co-liquidator but they tell me their fee… – Continue reading
The issue has dominated debate among world leaders and the Organisation for Economic Co-operation and Development (OECD) in recent months. In fact, it’s the OECD that’s been driving an effort to coordinate information exchange between jurisdictions under a single global standard in an effort to develop tax transparency. Moving on… – Continue reading
Weeks remain until the July 1 effective date of the Foreign Account Tax Compliance Act (FATCA), which will change the way foreign insurers do business with U.S. brokers. To address those changes, the Council of Insurance Agents & Brokers (CIAB) is developing an online portal to house each foreign insurer’s… – Continue reading
The Council of Insurance Agents& Brokers issued the following news release:. The Washington- based Council of Insurance Agents& Brokers is developing www.w8bene.com, an online portal to house each foreign insurer’s W-8BEN-E forms so that brokers can access the ones they need when they need them. “Our industry is facing a tight… – Continue reading
Feb 24 (Reuters) – U.S. prosecutors are widening their probe of how Swiss banks helped wealthy Americans avoid taxes to look at insurers as well, the Wall Street Journal reported on Monday, citing unnamed sources. Insurers in Switzerland have been preparing for months for U.S. officials to investigate products known as insurance… – Continue reading
