UK and US Split on BEPS Implementation.

(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.

Singapore Raises a Timely Caution on the OECD BEPS Agenda.

(Senior Minister Josephine Teo. Image – Today Online) In a recent commentary on the OECD Base Erosion and Profits Shifting (BEPS) project, while Singapore’s Senior Minister of State for Finance and Transport, Josephine Teo, did not discount the importance of BEPS, she has rightly advised caution in moving forward on this aggressive agenda in an… More Singapore Raises a Timely Caution on the OECD BEPS Agenda.

The Proofs of My Book on Tax Diplomacy…

From the book…Over 3,000b bilateral agreements to prevent tax evasion, eliminate double taxation and provide a legal basis for the exchange of confidential tax-payer information have been concluded by states. Not a technical treatise on taxation, this book explains how the exercise of tax diplomacy by states is influenced by the international tax aspects of their foreign policy. Designed to make accessible this area of international relations which has escaped the public scrutiny associated with other forms of statecraft, the book explains the unassailable link between the state’s economic value system the goals of this feature of diplomacy often obfuscated by the word ‘tax’. Few small island developing states have pursued a programme of sustained of tax treaty negotiation. Barbados is a well-known exception. Even if numerically modest by developed world standards its thirty-five treaties are geographically diverse and are used throughout the text to illustrate the contemporary policy and practice of tax diplomacy.… More The Proofs of My Book on Tax Diplomacy…

franhendy’s OFFSHORE WEEKLY

Your summary of the biggest tax, trade and investment headlines affecting International Business and Financial Services.  US Republican Party to Vote for FATCA Repeal. French Politicians Unhappy with Removal of Bermuda and Jersey from Blacklist. International Tax Overhaul On Schedule Says OECD. Relatives of Chinese Leaders Accused of Using Tax Havens. Russia Mulling Over 30%… More franhendy’s OFFSHORE WEEKLY

Tax Transparency Agenda Forces Diversification

British Virgin Islands’ Minister of Finance believes that competition and the dictates of the global tax transparency agenda continue to have a negative impact on the territory’s principal money earner – financial services. The significance of this activity cannot be overstated as its contribution to government earnings is estimated at 93.7%. Finance Minister Orlando Smith… More Tax Transparency Agenda Forces Diversification

TIEAs Unworkable in Tackling Tax Evasion, Fraud and Criminality.

(Cayman Islands-Australia TIEA signing; Image:IslandJournal) Of course you already know this but for a recent illustration please read on. The Tax Information Exchange Agreement (TIEA) between the Cayman Islands and Australia is not retrospective and only applies  to tax periods beginning on July 1, 2010 going forward. This is understandable of course because not only… More TIEAs Unworkable in Tackling Tax Evasion, Fraud and Criminality.