Perhaps the most alarming is the rise in money to be earned from ‘whistle-blowing. The US SEC paid $37M to whistle-blowers in 2015.
(Jane Ellison, Financial Secretary to the Treasury) Here is Why You Need to Know Now. Suppose: John Combos devises a tax avoidance scheme aimed at contractors and freelancers, requiring them to become employees of a special purpose employer and to receive money in the form of loans. A company is created to become the employer of… More Are You a Tax Avoidance ‘Enabler’?
FRANHENDY ATTORNEYS TAX ALERT Growth Returns to the Barbados Economy. Trajectory is Not Assured. No Additional Direct Tax Measures to Support the International Business and Financial Services Sector (IBFSS). Emphasis on Public-Private Sector Partnership to Spur Growth in the IBFSS Summary of the 2016 Budgetary Proposals: Removal of the imposition of duty on yachts remaining in Barbados… More FHA TAX ALERT – Barbados 2016 Budget
FRANHENDY ATTORNEYS WEEKLY REPORT TAX Big banks are backing a proposed law that would require companies to disclose more information about their ownership, citing the help this would provide in fighting financial crime as the same time as it might reduce compliance costs. The Clearing House Association, a payments and advocacy organization owned by some of… More FHA Weekly Report (August 11, 2016)
According to the UK All Party Parliamentary Group on Responsible Tax (APPG), which was formed on September 14, last year; and is headed by Labour MP, Dame Margaret Hodge, ” the OECD’s action plan for tackling base erosion and profit shifting (BEPS) has fallen short of creating the fair global system needed to combat global… More ‘Responsible Tax’ UK Parliamentary Lobby at Odds with OECD Tax Avoidance Package.
FRANHENDY ATTORNEYS WEEKLY REPORT TAX Is Africa now being carved up by a complicated web of offshore accounts, tax havens and tricky paper trails? New research seems to suggest this is exactly what’s going on. Offshore companies connected to 44 of Africa’s 54 countries disturbingly appear in the Panama Papers leak. Over 1,400 companies in the… More What You May Have Missed This Week…
First a FATCA refresher: FATCA is the acronym for the provisions under the the US Foreign Account Tax compliance Act which became law in March 2010. FATCA targets tax non-compliance by U.S. taxpayers with foreign accounts. FATCA focuses on reporting by U.S. taxpayers about certain foreign financial accounts and offshore assets by foreign financial institutions about… More FATCA Update.