Nov 27, 2009
The UK’s HM Revenue & Customs (HMRC) is expected to extend the due date for its tax amnesty program – New Disclosure Opportunity (NDO) – to January 4th. The amnesty was initiated on September 1st and the original deadline was indicated to be November 30th, 2009. The new deadline is expected to be January 4th, [...]
The UK's HM Revenue & Customs (HMRC) is expected to extend the due date for its tax amnesty program - New Disclosure Opportunity (NDO) - to January 4th.
The amnesty was initiated on September 1st and the original deadline was indicated to be November 30th, 2009. The new deadline is expected to be January 4th, 2010. Payments associated with the tax amnesty will be due by March 12th, 2010.
The HMRC estimates that there are currently 400,000 offshore bank accounts held by UK ... Read More
Nov 23, 2009
Transparency International, an international non-profit organization aimed at fighting corruption, has released their annual Corruption Perception Index (CPI) survey, on November 17th. The corruption study consists of a ranking of 180 countries based on a corruption score, ranging from zero to ten, with the lower representing a higher level of perceived corruption. This year, of [...]
Transparency International, an international non-profit organization aimed at fighting corruption, has released their annual Corruption Perception Index (CPI) survey, on November 17th. The corruption study consists of a ranking of 180 countries based on a corruption score, ranging from zero to ten, with the lower representing a higher level of perceived corruption.
This year, of the countries surveyed, New Zealand was found to be the least corrupt, with Denmark, Singapore, Sweden and Switzerland following. Somalia was the country perceived to have the highest ... Read More
Nov 13, 2009
The UK’s Trades Unions Congress (TUC) has called for the country to create a financial transaction tax. According to statements released by TUC on November 11th the UK needs to begin taxing financial institutions in order to aid in repairing the damage done to the economy. TUC claims that this could be done with a [...]
The UK’s Trades Unions Congress (TUC) has called for the country to create a financial transaction tax.
According to statements released by TUC on November 11th the UK needs to begin taxing financial institutions in order to aid in repairing the damage done to the economy. TUC claims that this could be done with a 0.05% levy on some inter-institution financial transactions.
The TUC proposal would see a levy on transactions through the Clearing House Automated Payments System (CHAPS), a system used ... Read More
Nov 10, 2009
Swiss bank UBS has confirmed that the governments of the UK and Australia, amongst others, are seeking information about possible tax evasion from their own nationals. According to the notes within the UBS third quarter report, following the settlement of its case with the US Department of Justice and Internal Revenue Services, UBS began to [...]
Swiss bank UBS has confirmed that the governments of the UK and Australia, amongst others, are seeking information about possible tax evasion from their own nationals.
According to the notes within the UBS third quarter report, following the settlement of its case with the US Department of Justice and Internal Revenue Services, UBS began to receive request from other jurisdictions for similar information. The UBS report said that "In particular, the revenue services of the UK and Australia have served upon UBS and ... Read More
