“The European Strategic Investment Plan is not the silver bullet. But if anyone has ideas to overcome the economic crisis with one stroke, stand up please,” said European Council President Donald Tusk in the debate on the results of the December European Council, which also covered tax avoidance and —… – Continue reading
Poland’s Finance Ministry is trying to make sure that a new regulation against corporate income tax avoidance comes into force before the end of the year. In cooperation with the ministry, a group of MPs has submitted an amendment to the recently approved regulation, which cuts short its vacatio legis… – Continue reading
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
MONTREAL • Eugene Melnyk, the billionaire owner of the Ottawa Senators and founder of drug maker Biovail Corp., is waging war against the company that now controls his one-time business. Mr. Melnyk alleges that Valeant Pharmaceuticals International Inc. is masquerading as a Canadian company to make use of this country’s… – Continue reading
Northern Ireland looks set to be handed the power to slash corporation tax in a move with the potential to significantly boost our stuttering economy. In a development which could transform international investment, senior sources in London and Belfast predict that an announcement will be made no later than October… – Continue reading
June 30 — Poland’s Sejm, the lower house of parliament, June 26 approved proposals to introduce guidelines to distinguish a foreign-controlled company for tax purposes, and approved Poland’s agreement for the avoidance of double taxation with the United Arab Emirates, as well as its tax information exchange agreements with Bermuda,… – Continue reading
SLOVAK law-enforcement forces known as ‘tax cobra’ have uncovered a tax evasion case concerning the import of mineral oil from Poland, which cost the state at least €9.5 million, head of the Financial Directorate Frantisek Imrecze revealed at a press conference on June 2, as reported by the TASR newswire…. – Continue reading
The Treasury Department added 19 nations to its list of countries that have reached agreements with the U.S. on carrying out a far-reaching law aimed at preventing offshore tax dodging by American citizens. The Treasury and the Internal Revenue Service said the 19 nations – including Australia, Brazil, South Africa… – Continue reading
The Canada-BVI Tax Information Exchange Agreement (“TIEA”) came into force on 11 March 2014. The TIEA was signed in May 2013, and the effective date provisions are set out in Article 13 of the Agreement. The BVI is now party to 25 TIEAs. What are the benefits? The BVI/Canada TIEA is significant due… – Continue reading
