ZURICH (Reuters) - Swiss bankers are on the defensive with their secretive industry under sustained attack for sheltering tax dodgers. Zurich overtook Tokyo as most expensive according to a new ranking by the Economist Intelligence Unit because of the soaring Swiss franc. The currency is up 30 percent since 2008, despite a cap imposed last…
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FL TAX LEGISLATION ALERT – FELONY TO EVEN POSSESS SALES SUPRESSION SOFTWARE
FLORIDA LEGISLATION CRIMINALIZING AUTOMATED SALES SUPRESSION SOFTWARE (aka "ZAPPER SOFTWARE") AWAITS GOVENOR'S SIGNATURE In March 2012, the Florida legislature passed a rather unique piece of legislation aimed specifically at a new type of tax fraud software moving into the United States. The software is known as "Automated Sales Suppression Device," "Zapper," or "Phantom-ware." The purpose…
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Florida Passes Captive Insurance Legislation
The Florida Legislature has passed HB 1101, an omnibus insurance bill that has carried language to allow Florida to become a Captive Insurance domicile state. A captive insurance company is a business or a group of businesses that form their own insurance subsidiary to finance their retained losses in a formal structure. Captive insurance companies…
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Bank Deposit Reporting Rule Reciprocal For Tax Treaty Partners?
Information gleaned from a controversial Internal Revenue Service regulation that would require U.S. banks to report interest on deposits held by nonresident aliens could lay the groundwork for reciprocation as the United States continues its efforts to build cooperation with other countries to stop global tax evasion, IRS Commissioner Douglas Shulman told a House subcommittee…
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