Managers of Wealth Americas

RNC Backs Repeal of Foreign Account Tax Compliance Act

The Republican National Committee has adopted repeal of the Foreign Account Tax Compliance Act as part of its official platform.

IBM Uses Dutch Tax Haven to Boost Profits as Sales Slide

Attracted by the Netherlands’ policies and extensive network of tax treaties, IBM joins companies such as Yahoo! Inc., Google Inc. and Cisco Systems Inc. that have used Dutch subsidiaries to cut taxes.

Department of Justice Program for Swiss Banks Can Mean Trouble for U.S. Taxpayers with Undisclosed Offshore Accounts

Many participating banks hStopping offshore tax evasion is also a key component of the Internal Revenue Service’s (IRS’s) ongoing compliance and enforcement efforts according to new IRS Commissioner John Koskinen. ave sent letters to their U.

Fund manager considered cancelling Amazon investment over tax avoidance

Royal London Asset Management demanded clarity over online retailer's tax levels – and locations where that tax was paid

Slovenia Initials FATCA Agreement With US

Failure by an FFI to disclose information on their US clients, including account ownership, balances and amounts moving in and out of the accounts, will result in a requirement to withhold 30 percent tax on payments of US-sourced income.

Trusts Save Taxes by Paying Out More Now

Trusts are often used as a vehicle to reduce or eliminate gift and estate tax while bequeathing wealth to children or other beneficiaries, but are subject to taxes on their own earnings, from investments, interest and other forms of income.

Deloitte leapfrogs PwC to become top accountant: global survey

Deloitte has pipped rival PwC to become the world's top accountant by revenue in the face of rising pressure on fees and new rules boosting competition, a global survey showed.

Fatca Tax Evasion Crackdown: DeVere CEO Backs Repeal

As U.S. regulators stepped up a crackdown on global tax evasion, some finance executives and politicians warned of harmful unintended impacts.

Is Opposing FATCA Supporting Tax Evasion?

They face serious repercussions if they don’t. Whether FATCA is a grand idea or a travesty, the IRS and Treasury Department have made Herculean efforts to implement it.

Russian, U.S. tax officials to discuss financial info sharing

Russian and U.S. tax officials will meet in Paris next week to discuss financial information sharing, Russia’s Finance Minister said

Companies Fleeing IRS Pay CEOs Extra as Penalty Backfires: Taxes

When Actavis Inc. changed its incorporation to Ireland in October, the New Jersey-based drugmaker helped CEO Paul Bisaro avoid the law’s bite by handing him more than $40 million of stock as much as three years ahead of its schedule, then promising

IRS Slammed For Unfair Offshore Cash Penalties

The study also revealed taxpayers who decided against voluntary disclosure by opting out were challenged with automatic audits that resulted in an average penalty of around 70% of any unpaid tax and interest.

Forget FATCA – GATCA’s on the way, warns tax expert

The European Union has hinted moves are afoot for an EU FACTA to include all 28 nations belonging to the union.

Senate Proposal for Infrastructure Bank Benefits Tax Dodgers

The Center for Effective Government has discussed in detail the economic benefits and job creation this needed investment could produce.

Tax man catches up with sculptor of Wall Street bull

The artist behind the famous bronze statue of a charging bull near Wall Street seen as symbolising an aggressive financial optimism has settled a tax evasion claim against him in Italy.

Revealed: Countries With The Highest Income Tax Rates

European countries feature high on the list of the nations with the world’s highest income tax rates

United States: Federal Court Rejects Efforts To Diminish Measures Aimed At Reducing Offshore Tax Avoidance

The reporting requirement previously existed for accounts held by nonresident aliens residing in Canada, but now extended to all other countries with which the United States had an income tax treaty or information exchange agreement.

US Court upholds offshore tax avoidance rules

The DOJ said on Jan. 13 that the Florida Bankers Association and Texas Bankers Association had challenged the 2012 amendments to the Department of the Treasury’s interest-reporting regulations.

The Next Obamacare? FATCA Roll Out Flounders

And as FATCA faces mounting implementation difficulties, it’s becoming clear that the much reviled tax law is simply not ready for prime time.

Big brother FATCA begins watching UAE bank transactions

Together with the rest of the world, the UAE has until June this year to commence disclosing basic information about accounts with transactions linked to the US.