The current trends in global taxation include a sweeping wave of compliance, regulatory requirements, the implementation of the OECD report on Base Erosion and Profits Sharing alongside a push for harmonisation. The development of FATCA legislation from the US, CFC reform and increases in information exchange agreements are also of major impact to multinationals…
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IRS Begins Furlough Notice
As the effects of federal government budget cuts due to sequestration become a reality, we want to keep the dialogue open regarding next steps. Next week, we plan to issue official furlough notices. Some IRS employees will receive them via email, while many campus employees will receive hard-copy letters. Those in non-work status will receive…
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Norway signs FATCA Agreement with United States.
The Norwegian Ministry of Finance announced on April 15, 2013 the signing of an agreement with small t and will as he United States for an automatic exchange of financial information between the countries’ tax authorities, pursuant to the U.S. Foreign Account Tax Compliance Act (FATCA). The agreement makes Norway the second Nordic nation to enact FATCA,…
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The Noose Tightens as Criminal Charges are brought against a Swiss Banker and a Swiss Attorney.
Authorities charged a Swiss banker and a Swiss attorney with helping American clients hide millions of dollars in offshore accounts to evade paying taxes. The case is the latest in a string of prosecutions from the Justice Department aimed at curtailing offshore tax evasion services sold by Swiss and Swiss-style banks.Stefan Buck and Edgar Paltzer…
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