On December 19, 2014 the DoJ announced that U.S. District Judge Vernon S. Broderick entered an order on December 18, 2014 authorizing the IRS to issue summonses requiring: Federal Express Corporation, doing business as FedEx Express, FedEx Ground Package System Inc., aka FedEx Ground, DHL Express (DHL), United Parcel Service Inc. (UPS), Western Union Financial…
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British Virgin Islands Mutual Legal Assistance (Tax Matters) Amendment Act 2014 Passed 9/16/14
Originally the 2012 British Virgin Islands mutual legal assistance (Tax matters) amendment Act required every company shall maintain at the office of its registered agent records and underlying documentation; sufficient to explain the company’s transactions and financial position as determined by the directors, for a period of five years from the date of completion of…
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FATCA FAQs Provides for Substituted Form W-8's
IRS has updated its list of frequently asked questions (FAQs) on the Foreign Account Tax Compliance Act (FATCA) to explain what is a "Similar Agreed Form" that can be used instead of the self-certification made on Form W-8, Certificate of Foreign Status, as provided in Annex I of both the Model 1 and Model 2…
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