Managers of Wealth Americas

VAT update: recovery procedure in the UAE and 2020 SAF-T confirmed in Norway

Need to catch up on what’s happening in the world of VAT and wider tax updates? Here’s a summary from our global tax team.

Implementation of tax transparency initiative delivering concrete and impressive results

Voluntary disclosure of offshore accounts, financial assets and income in the run-up to full implementation of the AEOI initiative resulted in more than EUR 95 billion in additional revenue (tax, interest and penalties) for OECD and G20 countries over the

Make America Great Again by Cracking Down on Tax Havens

The U.S. has a lower rating on tax evasion than even the Cayman Islands—and far too many politicians are benefitting.

Taxpayers Should Prepare For The Next Penalty Battleground

Taxpayers have several potential defenses to the accuracy-related penalty depending on the ground upon which the penalty is asserted, including “substantial authority,” “reasonable basis,” adequate disclosure,” “reasona

CRA signs secret settlement with wealthy KPMG clients involved in offshore tax scheme

Watchdog group accuses the Liberals of covering up the KPMG affair

Voices Fostering post-tax season growth in wealth management

Have the rankings in order of best to worst and include fee information and net realization to the extent that you can produce it.

Minimizing (or eliminating) US tax on US source income and legacies for non-US charities

Based on this review and the charity’s affidavit, a qualified practitioner will be able to issue an opinion letter confirming that the charity is the equivalent of a US public charity or a US private foundation.

You Can’t Tax the Rich Without the IRS

Already, wealthy people and corporations easily get around today’s rules.

CRA steps up the fight

The Canada Revenue Agency has increased its enforcement on many fronts

Treasury Finally Gives Much-Anticipated Tax Shelter Guidance For Wealthy Investors

The newly-proposed rules translate into more clarity and more flexibility for investors in the Opportunity Zones

American insurance giant AIG looks beyond Big Four for auditor

The company, which is audited by PWC globally, is understood to have looked outside of the Big Four for its UK auditor

Swiss leaders upbeat after talks in US on tax and trade

Maurer said that the atmosphere at meetings of global finance leaders was more optimistic than last year, despite uncertainties that could have a negative effect on the global economy.

Andersen Global Expands Brazil Presence

The firm has 130 professionals in two offices in São Paulo.

OECD Global Minimum Tax Plan Faces Design Challenges

Other challenges include deciding how a minimum tax would interact with a “defensive regime” that denies deductions for payments made to an offshore entity that isn’t subject to the minimum tax regime, and how to avoid double taxation if

'Accidental Americans' in France increase pressure on US over tax bills

Despite this they often find that they are eligible to pay tax on their global income in America because US tax eligibility is based on citizenship and not residency (as it is in most countries).

Call made for reduction of tax evasion in Latin America, Caribbean

According to the report, tax policy has gained traction as a tool to boost progress

Media Blackout as Israel’s Largest Banks Pay Over $1 Billion in Fines for US Tax Evasion Schemes

The settlements are the end result of a series of Department of Justice (DOJ) probes that were related to the DOJ’s 2007 investigation targeting UBS AG, Switzerland’s largest bank.

US warns of WTO action over 'discriminatory' new digital taxes

That overhaul is expected next year at the earliest, assuming a consensus can be reached among the 127 countries taking part in the talks.

How to Pay Taxes on Investment Income

Estimate the investment income taxes you could owe to the IRS.

Danger - Foreign Retirement Plans Can Create Annually Taxable U.S. and State Income

The income that accrues within the offshore pension plan on the invested plan assets may be taxable