Both houses of the Swiss parliament have now approved the intergovernmental agreement (IGA) between Switzerland and the US to implement the Foreign Tax Compliance Act (Fatca).
In a Q&A on day one of this year's India Tax Forum, Amit Rana, vice president for taxes for GE in India, discusses how the Vodafone case might be resolved, some of the positive steps the government is taking to deal with the distrust between multinational companies and the tax authorities and India’s role in international tax policymaking.
Taxpayers will have to think carefully about the jurisdictions they use for their French transactions after the government in Paris published its annual update of countries that it believes do not comply with international standards of exchange of information, adding the British Virgin Islands (BVI), Jersey and Bermuda to the list and removing the Philippines. These changes are retroactive from January 1 this year.
P Chidambaram, India’s finance minister, has appointed Parthasarathi Shome as chairman of the Tax Reform Administration Commission (TARC), which the minister said he would set up in his budget speech last March.
The US has opened the online registration portal financial institutions (FI) can use to ensure adherence with the Foreign Account Tax Compliance Act (Fatca).
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.
