Category: Miscellaneous

IRS Offshore Programs Produce Billions – Come In And Participate Or Else …

BACKGROUND The IRS recently released IR-2015-116 announcing its offshore compliance programs have generated $8 Billion. More than 54,000 taxpayers subject to U.S. worldwide income and disclosure requirements have come in from the cold to participate in IRS offshore remediation disclosure programs since 2009. The IRS also urged taxpayers with non-compliant...

Guernsey: A Guide To Guernsey’s New Non-Resident Capital Gains Tax Rules

The new non-resident capital gains tax came into force in Guernsey on 6 April 2015. The rules intend to capture disposals of residential property in the United Kingdom by all non-residents. These notes provide a summary of who and which property is affected, and describe how a new UK tax...

Black money law: Beneficiaries in overseas discretionary trusts may face enquiry

MUMBAI: Indian tax authorities will ignore conventions to pierce trust structures used by most people to stash black money abroad. Persons who are named as beneficiaries in overseas discretionary trusts are likely to face enquiry even if they do not receive any money from such trusts. The taxman will look...

Recent IRS policy shift requires taxpayers to reevaluate decisions made as to previously undisclosed offshore accounts and assets

The US voluntary disclosure landscape has changed dramatically over the last 12 months. As a result, the options to voluntarily disclose previously unreported offshore accounts and assets have evolved to allow unprecedented relief for a broader group of US taxpayers. This is particularly true for those whose mistakes were inadvertent,...

The Republic of Korea joins TMview

As of 12 February 2014, The Korean Intellectual Property Office (KIPO) has made its trade mark data available to the TMview search tool. The integration of KIPO is a concrete result of the International Cooperation programme managed by OHIM in collaboration with its international partners. This last extension brings the...