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.
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The OECD BEPS project has been marketed to developing countries, primarily those on the African Continent, as a way to re-balance the bargain often struck between government and multinationals operating in, our through their countries. BEPS, has been vociferously articulated by the OECD, international NGOS, and perhaps a little less boisterously by African governments themselves;… More Africa & BEPS Value-Added: A Reality Check.
(Here’s What You Missed Last Week and a Look Ahead.) Your Summary of the biggest tax, trade and investment headlines affecting International Business and Financial Services Safe Havens Regain Appeal. EU’s New Plan for Safer Banks. Obama Renews Corporate Tax Reforms Fear Be Dammed: Why It is Time to Invest in Emerging Markets. State Bank… More franhendy’s OFFSHORE WEEKLY
“…there is a need for development of standards of comparison independent of the particular interests of competitors. Allowing special interest coalitions of onshore economies like the OECD to define the parameters of debate is thus particularly inappropriate. There is a legitimate place for discussion of relative regulatory effectiveness in discussions of the global financial system. But it is… More Regulatory Effectiveness & Offshore Financial Centres
(New York Representative Charles B. Rangel, Member of the US Ways and Means Committee) Yesterday, as part of their continuing work on comprehensive US tax reform, the Ways and Means Committee of the US Congress convened a hearing on the use of tax havens by U.S. and foreign multinational corporations to avoid tax; shift profits outside the… More 5 Point Summary of OECD’s Testimony at Yesterday’s US Congress Hearing on Tax Havens.