December 04, 2013
The Cayman Islands and Costa Rica have become the 11th and 12th jurisdictions to sign bilateral intergovernmental agreements (IGA) with the US for the implementation of the Foreign Account Compliance Act (FATCA). And soon there could be at least 28, which are being used as the mechanism to clamp down on undeclared assets held by US citizens with foreign financial institutions (FFIs).
November 22, 2013
Four jurisdictions have received the thumbs-down from their peers in new compliance ratings issued by the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes.
October 04, 2013
Tax authorities need to follow information exchange protocol more carefully or risk having requests blocked, after the Australian Taxation Office (ATO) sought financial details about two Cayman Islands firms but was blocked by the UK territory’s Grand Court.
September 09, 2013
August 14, 2013
The US has agreed terms with another jurisdiction for an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA), bringing to 10 the number of countries it has signed, or intends to sign, such agreements with.
June 18, 2013
George Osborne, UK Chancellor of the Exchequer, said more progress has been made on countering tax secrecy and corporate tax evasion in the last 24 hours than in the previous 24 years. But conflicting messages could yet stall concrete agreements.
May 02, 2013
Foreign investors were given helpful guidance on how to value assets for capital gains tax purposes by the Federal Court of Australia’s ruling in favour of Resource Capital Fund III (RCF) last week.
January 09, 2013
The Indian tax authorities are still arguing that UK-headquartered telecommunications multinational Vodafone must pay a $2.5 billion tax bill in relation to its 2007 acquisition of Hutchison Essar, the company has revealed.