Q: Who is Excluded from the EU Blacklisting Exercise? A: A differentiated approach was followed according to the status of the jurisdictions. First, the 28 member states and the territories considered to be European Commission – DG Taxation and Customs Union – 13/09/2016 part of a Member State such as those covered by Article 355(1) … More 4 Answers to the 4 Key Questions About the EU Initial List of Jurisdictions Highly Likely to Facilitate Tax Avoidance
I AM NOT A FAN OF THE USE OF UNILATERAL MEASURES IN international diplomacy; including the use of tax haven or other types of blacklists related to compliance with global norms on transparency and information exchange. Although we often think of this kind of state action in the context of armed conflict where there are … More OP-ED: Why Europe is Ill-Suited For The Business of Blacklisting So-Called ‘Non-Cooperative’ Jurisdictions.
(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 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.
Switzerland looks to be one step closer to responding to requests for information based on stolen data once that data is in the public domain. This is because the Swiss Federal Council has adopted a dispatch on certain proposed amendments to its Tax Administrative Assistance programme that will ease the rules on the use of … More Will International Rules on Tax Information Exchange Fuel a Market for Stolen Tax-Payer Data?
“PM Cameron also ruled out blacklisting countries on the basis that they were zero- or very low-tax jurisdictions.” “Asked about blacklisting tax havens, the PM said: “We’re happy to support blacklists but we don’t think we should draw up a blacklist solely on the basis of a territory raising a low tax rate – we don’t … More Why For My Money, UK PM Cameron is the World’s Top International Tax Diplomat.