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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Canadian tax experts from industry and the public sector will discuss what Canada’s response should be to the OECD Base Erosion and profits Shifting (BEPS) agenda. Hosted by Bloomberg BNA and Baker and McKenzie the talks will be facilitated through two events : The 3rd Annual Global Transfer Pricing Conference: Toronto, which will take place… More Canada to Discuss Its Response to BEPS …Affirms Its Commitment to a Free Trade Agreement with Europe…Some Implications for OFCs
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?
(Image:www.defenders.ca) Ireland is not a tax haven and has never been one! So says the secretary-general of the Organization for Economic Co-operation and Development (OECD), Dr Angel Gurria. Seriously??!! Dr Gurria was responding to an announcement made in Brussels that investigations into the tax systems of Ireland, the Netherlands and Luxembourg are to be carried… More Ireland Has Friends in High Places!
(Bermuda Premier Craig Cannonier) And so it continues. Expressing its customary surprise and outrage at the territory’s inclusion in France’s latest tax haven blacklist, Bermuda has argued the following lines of defense: It has an existing tax information exchange agreement (TIEA) exchange with France, one of 39 bilateral transparency agreements Bermuda has, including with 90 percent of the… More Bermuda, British Virgin Islands and Jersey Blacklisted Again by France as Tax Havens.
According to Appleby’s latest “On the Register” report, which provides insight and data on company incorporations in offshore financial centers, company formations in both London and Hong Kong are well above those recorded in 2009. In fact, Hong Kong, as a comparator, saw a 9 percent increase in the total number of active registered companies, with… More Offshore Company Formation is Still Big Business