Apr 7, 2010
The Australian Government has signed eight new bilateral Tax Information Exchange Agreements (TIEA) in a concentrated effort to enhance global tax transparency and reduce offshore tax evasion. On April 6th-7th Senator Nick Sherry, Assistant Treasurer of Australia, announced the signing of TIEA agreements with The Cayman Islands, The Bahamas, Belize, Dominica, Grenada, Saint Lucia, Monaco, [...]
The Australian Government has signed eight new bilateral Tax Information Exchange Agreements (TIEA) in a concentrated effort to enhance global tax transparency and reduce offshore tax evasion.
On April 6th-7th Senator Nick Sherry, Assistant Treasurer of Australia, announced the signing of TIEA agreements with The Cayman Islands, The Bahamas, Belize, Dominica, Grenada, Saint Lucia, Monaco, and the Turks and Caicos Islands. With the signing ceremonies complete, the TIEAs will be implemented upon the completion of legal ratification by both signatories. The new agreements ... Read More
Mar 22, 2010
The US, UK and the Cayman Islands have been found to be the most popular locations for private non-resident deposits, representing nearly USD 2 trillion of worldwide investments, according to a newly issued report. Seeing the lack of availability of compiled data on offshore holdings, the report quantifies offshore deposits on a country-by-country basis. In [...]
The US, UK and the Cayman Islands have been found to be the most popular locations for private non-resident deposits, representing nearly USD 2 trillion of worldwide investments, according to a newly issued report. Seeing the lack of availability of compiled data on offshore holdings, the report quantifies offshore deposits on a country-by-country basis.
In a report released on March 19th, Global Financial Integrity (GFI) revealed that worldwide private non-resident deposits held in secrecy jurisdictions has escalated to approximately USD 10 ... Read More
Mar 19, 2010
The international fight against cross-border tax evasion has taken a step forward with the initiation of a peer review group which aims to assess the progress made by nations in implementing internationally agreed standards of tax transparency. On March 18th the Organization for Economic Cooperation and Development (OECD) announced the initiation of the first step [...]
The international fight against cross-border tax evasion has taken a step forward with the initiation of a peer review group which aims to assess the progress made by nations in implementing internationally agreed standards of tax transparency.
On March 18th the Organization for Economic Cooperation and Development (OECD) announced the initiation of the first step in the most extensive and through international tax transparency assesment process that has ever been undertaken. Eighteen nations from the 91 participating members of the Global Forum on ... Read More
Oct 8, 2009
The Cayman Islands government has tabled a new budget which proposes to raise taxes and fees for the nation, though this has ensured the approval of the British government in attaining the loans necessary for the ailing jurisdiction. In the face of a KYD40.8 million fall in revenues and a KYD56.2 million escalations in expenditure, [...]
The Cayman Islands government has tabled a new budget which proposes to raise taxes and fees for the nation, though this has ensured the approval of the British government in attaining the loans necessary for the ailing jurisdiction.
In the face of a KYD40.8 million fall in revenues and a KYD56.2 million escalations in expenditure, the Cayman Islands government had sought assistance in the form of loans. Permission to increase the British jurisdiction’s debt balance was denied by the British government. It ... Read More
