U.S. Pushes Global Information Exchange at G8 Summit
The U.S. hopes to build international consensus around combating tax evasion and corporate profit shifting at this week’s G8 meeting in Northern Ireland. Specifically, the U.S. is pushing a single...
View ArticleTides of Change: CARICOM Announces Progress on FATCA Compliance and Other...
The Caribbean region came one step closer to conformity with the U.S. Foreign Account Tax Compliance Act (FATCA) at the Fifteenth Meeting of the Council for Finance and Planning (the Council) of the...
View ArticleFATCA as a Global Model
When the Foreign Account Tax Compliance Act (FATCA) was enacted in 2010, there was some question as to how it would be received internationally and whether tax compliance and information reporting...
View ArticleTides of Change: Cayman Islands Announces Completion of FATCA Accord with the...
On August 13, the Cayman Islands announced the conclusion of negotiations with the United States on an intergovernmental agreement (IGA) to implement the U.S. Foreign Account Tax Compliance Act (FATCA)...
View ArticleFrance and U.S. Sign FATCA IGA; Agreements Furthering U.S. Tax Transparency...
A significant part of the global tax reform discussion has centered on global tax transparency and increased information sharing and the intergovernmental agreement (“IGA”) signed between the U.S. and...
View ArticleRepublican Party Platform: Ditch FATCA
Apparently, the reporting requirements of foreign financial institutions have now become partisan red meat. On Friday, the Republican National Committee made repeal of the Foreign Account Tax...
View ArticleTime for a Little Spring Cleaning: IRS Releases Final Version of Form...
On March 28, the IRS released the final version of Form W-8BEN-E for use by entities to meet the reporting and withholding requirements under the Foreign Account Tax Compliance Act (FATCA). With...
View ArticleFATCA Enforcement Relaxed Until 2016
Like the Rolling Stones, those facing FATCA obligations are saying “Time is On My Side.” Withholding agents, foreign financial institutions (FFIs), and other entities making “good faith efforts to...
View ArticleSwitzerland Moving Towards International Standards
Switzerland recently announced intentions for draft legislation to provide authority for amending existing double taxation avoidance agreements that would bring them in line with the OECD’s standard...
View ArticleMore Countries Joining the Transparency Trend
On October 29, more than 50 countries signed on to implement OECD standard for automatic exchange of information starting in 2017 or 2018. The Secretary-General of the OECD, Angel Gurria, announced at...
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