Jan 8, 2010
Nearly 10 000 UK nationals have opted to reveal their hidden offshore assets in the HM Revenue & Customs’ [HMRC] tax amnesty program. The New Disclosure Opportunity (NDO), whose deadline closed on January 4th, is expected to result in £500 million retrieved in unpaid taxes and subsequent penalties over the next three years. The number [...]
Nearly 10 000 UK nationals have opted to reveal their hidden offshore assets in the HM Revenue & Customs’ [HMRC] tax amnesty program.
The New Disclosure Opportunity (NDO), whose deadline closed on January 4th, is expected to result in £500 million retrieved in unpaid taxes and subsequent penalties over the next three years. The number of declarations is far below that of a similar scheme run by the HMRC in 2007, which yielded 45 000 disclosures. Yet according to HMRC statements, the department ... Read More
Sep 18, 2009
The Swiss Bankers Association (SBA) is calling for Switzerland’s government to instate a withholding tax on earnings generated by foreign held Swiss bank accounts. In order to save what remains of Switzerland’s weakened privacy laws the SBA has come up with an alternative to automatic international financial information sharing, as is proposed now. It is [...]
The Swiss Bankers Association (SBA) is calling for Switzerland’s government to instate a withholding tax on earnings generated by foreign held Swiss bank accounts.
In order to save what remains of Switzerland’s weakened privacy laws the SBA has come up with an alternative to automatic international financial information sharing, as is proposed now. It is envisaged that a withholding tax could be levied on the interest, dividends, investment income and capital gains generated by accounts held by foreigners.
The tax will be ... Read More
Sep 11, 2009
The French Government is seeking a higher level of disclosure from French banks regarding transfers to offshore accounts and tax havens. On the 11th of September, Eric Woerth, French Budget Minister, announced that the French Government will be stepping up its efforts to fight offshore tax evasion by demanding further assistance from French located banks. [...]
The French Government is seeking a higher level of disclosure from French banks regarding transfers to offshore accounts and tax havens.
On the 11th of September, Eric Woerth, French Budget Minister, announced that the French Government will be stepping up its efforts to fight offshore tax evasion by demanding further assistance from French located banks. The government wants to see banks providing details and identities of account holders transferring money to offshore accounts and tax havens.
Provisions already exist within French law ... Read More
Aug 27, 2009
The Canadian Revenue Agency have announced that they will enter into discussion with Swiss bank UBS in regards to possible tax evasion information. Following swiftly upon news that the US Government and UBS had reached a settlement in their offshore account tax evasion dispute, the Canadian Revenue Agency (CRA) has announced that they too will [...]
The Canadian Revenue Agency have announced that they will enter into discussion with Swiss bank UBS in regards to possible tax evasion information.
Following swiftly upon news that the US Government and UBS had reached a settlement in their offshore account tax evasion dispute, the Canadian Revenue Agency (CRA) has announced that they too will engage in discussions with UBS in regards to divulging information about Canadian national tax evaders.
On the 21st of August it was announced by Jean-Pierre Blackburn, Canadian National Revenue ... Read More
