Jul 10, 20090

UK New Disclosure Opportunity to End March 2010

Categories: Offshore Banking, Tax Havens, Taxation in UK

The HM Revenue & Customs (HMRC) has begun a New Disclosure Opportunity (NDO) initiative to run through until 2010, in the hopes of reclaiming any taxes owed by offshore bank account holders. New Disclosure Opportunity notifications will be sent out to the clients of numerous UK banks and financial institutions by the HMRC in a [...]

The HM Revenue & Customs (HMRC) has begun a New Disclosure Opportunity (NDO) initiative to run through until 2010, in the hopes of reclaiming any taxes owed by offshore bank account holders. New Disclosure Opportunity notifications will be sent out to the clients of numerous UK banks and financial institutions by the HMRC in a scheme to entice offshore account holders into disclosing any unpaid tax obligations. In July 2007 a similar Offshore Disclosure Facility (ODF) was run by the HMRC and netted ... Read More

Jul 10, 20090

Tax Data Deal for Germany and Liechtenstein

Categories: Tax Havens, Taxation in EU, Taxation in Germany, Taxation in Liechtenstein

Germany and Liechtenstein struck up a Tax Information Exchange Agreement (TIEA) on the 10th of July. In an effort to amend the rift between the two countries, caused by a dispute over Liechtenstein’s bank secrecy laws, the TIEA has finally been agreed upon to promote bilateral co-operation on tax matters through an exchange of information. [...]

Germany and Liechtenstein struck up a Tax Information Exchange Agreement (TIEA) on the 10th of July. In an effort to amend the rift between the two countries, caused by a dispute over Liechtenstein’s bank secrecy laws, the TIEA has finally been agreed upon to promote bilateral co-operation on tax matters through an exchange of information. The signed agreement complies with current guidelines developed by the OECD Global Forum Working Group on Effective Exchange of Information, and is set to be enacted during the ... Read More