(UK PM David Cameron and US President Barrack Obama.) It is increasingly likely that the U.K. and the U.S. governments will adopt different approaches to implementing the OECD’s final package of measures to tackle base erosion and profit shifting. The UK Position The U.K. government considers an inclusive, multilateral instrument to upgrade bilateral tax treatments… More UK and US Split on BEPS Implementation.
Today in London at the Open Government Partnership Summit, Prime Minister Cameron announced his government’s plans to make public, national registers of the ‘true’ , ‘shell’, ‘real’ or ‘beneficial’ owners of companies. In the company of the Presidents of Tanzania and Liberia, Cameron said that “a list of the owners of “shell” companies where firms keep… More Going Public: UK, EU and US to Unmask Real Owners of Companies….Will Trusts Be Next?
Reporting on G20 Summit meetings being held in St. Petersburg and attended by UK Prime Minister David Cameron and Chancellor George Osbourne, Her Majesty’s Treasury has confirmed that the world leaders: gave their backing to the Organisation for Economic Cooperation and Development’s (OECD) action plan on base erosion and profit shifting (BEPS), presented to G20… More BREAKING NEWS: G20 Agrees Four ‘Next Steps’ to Tackle Global Tax Avoidance
Emotive stuff right? Here’s what I think Tax avoidance is not a moral issue; it is an issue of competitiveness. On the other hand, tax evasion crosses that imaginary line in the sand between what are acceptable tax savings and what is tantamount to stealing from the society in which the tax-payer is resident. That’s… More Is Tax Avoidance a Moral Issue? 3 Videos to Help You Decide
Find them here: https://franhendy.com/post-g8uk-updates/ Available now: UK PM has today released a New Action Plan to Prevent the Misuse of Companies and Other Legal Arrangements. It is replete with references to trusts, beneficial ownership, the collection and sharing of information; and interestingly a proposed audit of the activities of UK trust and company service providers. Remember… More Want Regular Post-G8UK Up-dates?
Private enterprise drives growth, reduces poverty, and creates jobs and prosperity for people around the world. Governments have a special responsibility to make proper rules and promote good governance. Fair taxes, increased transparency and open trade are vital drivers of this. We will make a real difference by doing the following: 1. Tax authorities across the world should automatically… More G8 Summit Ends: Here’s What They Have Agreed.
Automatic Exchange of Information (AIE) is the systematic, periodic transmission of bulk confidential taxpayer information by authorities of one country to the country where the taxpayer, whose information is being transmitted, is resident. The other state being the source (of the income) state. These transmissions cover various types of income, including dividends, royalties, salaries and… More Automatic Exchange of Information: What You Need to Know Now.