The Cyprus' government has approved changes to its citizenship-by-investment scheme following pressure from the European Union and the OECD. Applicants will, in future, have to undergo background checks by a specialist firm, and must already possess a Schengen visa allowing them to travel in the Schengen area for up to 90 days. It’s the largest…
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IRS Grants Relief for Certain Foreign Stock Ownership!
New regulations from the Internal Revenue Service provide relief to some U.S. taxpayers who own stock in certain foreign corporations. Rev. Proc. 2019-40 and the proposed regulations limit the inquiries required by U.S. taxpayers to determine whether certain foreign businesses are controlled foreign corporations.The Revenue Procedure limits the inquiries required by U.S. persons to determine whether certain foreign…
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Inter Company Pricing – Bye-Bye Benchmarking?
According to Robert Feinschreiber and Margaret Kent, Transnational transfer pricing audit experts are now in the process of remaking the transfer pricing landscape. Tax administrations are challenging both the scope and the depth of comparability databases. These governments are increasing asking the question, “What products or services are to be benchmarked?” Consider one such example in which…
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Where Can You Get a Passport When You Relinquish Your US One?
So you've decided to give up your passport and/or your green card and leave the United States, now what? You'll need a foreign passport to replace your US passport, so where you go?Well the latest Henley Passport Index ranking has just been released, with Japan and Singapore retaining a firm hold on first place, each with a…
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