National Taxpayer Advocate points out flaws in FATCA implementation The US National Taxpayer Advocate (NTA) has raised serious doubts about the creation of an international financial data regime as the goal of the Foreign Account Tax Compliance Act (FATCA). By Ralph Cunningham January 15 2014
Final FFI agreement offers transition for due diligence A change in the final version of a document critical to compliance with the Foreign Account Tax Compliance Act (FATCA) will allow financial firms to choose which form of due... By Ralph Cunningham January 08 2014
Six more FATCA intergovernmental agreements and details of data exchange announced It has been a breathless time for the Foreign Account Tax Compliance Act (FATCA), the US law aimed at uncovering undisclosed money held by Americans in overseas banks. By Ralph Cunningham December 20 2013
Taxpayers are preparing for more transparency but fear the extra burden Companies want more guidance and advice from tax authorities about how to manage tax transparency, a topic that is set to be key to the outcomes from the OECD’s BEPS... By Ralph Cunningham December 20 2013
Twelve top picks from 2013's tax disputes It was not easy to confine this list to one dispute from each month. Cases we had to leave out included PPL in the US Supreme Court about the creditability... By Ralph Cunningham December 19 2013
Widmer-Schlumpf talks up Swiss tax achievements in 2013 Talk about having a lot to deal with. If one finance minister was at the centre of most of the controversial tax issues in 2013, mainly to do with the... By Ralph Cunningham December 17 2013
European Court of Justice says UK method of limiting reclaims in FII group litigation i... British legislation withdrawing a method of recovering tax charged in breach of EU law, “without notice and retroactively”, is against EU law, the European Court of Justice decided today in... By Ralph Cunningham December 13 2013
FASB says it will consult on reducing complexity of FAS 109 The Financial Accounting Standards Board (FASB) in the US has acknowledged that certain parts of the standard used to account for income taxes cause problems for investors and other users. By Ralph Cunningham December 10 2013
US promises more IGAs for FATCA implementation 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... By Ralph Cunningham December 04 2013
