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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Tax diplomacy just got more complicated for Offshore Financial Centres (OFCs) following the success of the BREXIT campaign. Coupled with the prospect of another election after Prime Minister Cameron’s decision to step down in October, there hasn’t been much by way of ‘good news’ for OFCs in the last few hours. Here’s why BREXIT threatens… More Why BREXIT is Bad News for OFCs
Fancy a peek at Facebook’s earnings and tax bills? Tax Eurocrats certainly do. So keen are they to compel the world’s largest multinational corporations to open their tax arrangements with EU governments to full public scrutiny that the European Commission is expected to table the necessary legislation in April. Tax legislation in the EU… More What a Tangled Web!
“For its part, Ottawa must decide if and when it will introduce legislation to implement BEPS and, having regard to the international competitiveness of Canadian business, to what extent it will do so without firm commitments that our major trading and treaty partners will follow suit – in particular the United States, where the legislative… More Competitiveness, Tax and Unilateral State Action. A Canadian Perspective.
A union between a man and a woman is still the definition of marriage in Germany; even though same-sex unions are recognised under the law. In fact, in response to proposals for similar tax treatment of married couples and same-sex unions, Angela Merkel’s ruling party rejected the idea and instead chose to reaffirm that, “the advancement… More Same-Sex Tax Squabbles.