We originally posted UK mini-FATCA Agreements Spells The End for UK Tax Haven Territories! on Monday, November 26, 2012. The UK and some other European countries have negotiating FATCA agreements with the US. Jersey has now agreed to the automatic reporting of bank account information to the UK tax authorities. As with Guernsey and the Isle of…
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Cyprus Rejects Bank Tax
Cyprus overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout on Tuesday, throwing international efforts to rescue the latest casualty of the euro zone debt crisis into disarray. The vote in the tiny legislature was a stunning setback for the 17-nation currency bloc, angering European partners and raising fears…
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Professional Golfer Sergio Garcia “Whiffs” Tax Case regarding US Tax on “Image Rights”
The US Tax Court has ordered professional golfer Sergio Garcia to pay tax on endorsement income he had claimed was tax-free under the US-Switzerland tax treaty. The court decided Garcia's contract with his sponsor TaylorMade had attributed too much of the money to royalty payments for image rights, which the treaty exempts from US tax.…
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Criminal Tax Investigations On The Rise!
Here we are in March and as many CPA's can tell you it is Tax Time. That is right Tax Time. The time of year, when the vast majority of taxpayers are about to file their tax returns. It is also the same time of year that the IRS likes to announce the names and details of taxpayers (or…
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