edited by: Tracy Coenen,
Accounting Editor
FT.com / Personal Finance - IHT avoidance schemes face scrutiny.
As the FT notes:
As part of the new measures to clamp down on tax avoidance, UK residents will also be obliged to tell the British tax authorities when they open certain foreign bank accounts.
The new reporting requirement will apply to [...]
The world of banking has won two more victories over the rest of society.
The challenge to its right to charge excessive fees to people who make the smallest error in running their bank accounts has been overthrown by the new supreme court. This is regressive tax in all but [...]
It was a question posed to US taxpayers by the IRS in the wake of the UBS scandal: do you feel lucky?
The US offered US taxpayers the opportunity to voluntarily disclose offshore bank accounts as part of an amnesty program earlier this year. The choice? Come forward [...]
From ABCNews.com:
Under an IRS voluntary disclosure program that allows U.S. taxpayers to come clean about secret foreign bank accounts and avoid possible prosecution, over 14,700 Americans have now admitted to hiding assets overseas, the IRS and the Justice Department announced today.
The number nearly doubles [...]
The Tax Justice Network has blogged the continuing abuse of information exchange by Switzerland.
Carl Levin has said:
While it is good to know that 14,700 people have now disclosed previously hidden offshore bank accounts, the U.S.–Swiss Annex disclosed today, designed to compel disclosure of the names of U.S persons [...]
