UPDATE: UK Swiss Tax Agreement
On 2nd October 2012, the Swiss Government announced that the implementation of the UK Swiss Tax Agreement with HM Revenue & Customs will not be put to a referendum vote in Switzerland. The result of this decision is that the contents of the UK Swiss Tax Agreement will become law in Switzerland with effect from […]
IRS Moves FATCA Timelines
As those of you who have been keeping up on the FATCA developments are aware, various rules imposed under the proposed FATCA regulations set forth a number of implementations dates beginning in January 2013. As a result of numerous comments these deadlines have been extended to 2014 and 2015, according to this IRS announcement. Summary […]
New Tax Obligations For Trusts
On 15th September 2012, Decree 2012-1050 was published that sets the deadline for filing French tax returns for trusts at 30th September 2012. Trusts, wherever they are located, must comply with the new French tax obligations, which apply from 1st January 2012. The trustee is required to comply with certain declaration obligations when: The settlor […]
The Ghost of Anna Nicole Smith and an Gift Tax Opportunity until December 31, 2012
The Ghost of Anna Nicole Smith visited me to discuss a unique tax saving opportunity, which is set to expire at the end of this year. Seriously. You may remember Anna Nicole, the Playmate who parlayed her Playboy fame into a modern tragic-comedy of sorts – if I may say that without offending. But to […]
Recap: UK Financial Institutions affected by the new US – UK FATCA Agreement
As we posted yesterday, the US and UK governments on September 14, 2012, entered into a bilateral agreement to improve international tax compliance, combat tax evasion and to implement FATCA. In addition to the procedural requirements relating to what both US and UK financial institutions as well as the US and UK governments must to […]
Details of the new September Voluntary Disclosure procedure
As we posted on 27th June 2012, the IRS has announced a new procedure to “streamline” the process for US taxpayers living overseas to bring their US tax compliance up to date. This took effect on the 1st September 2012. It is available to US taxpayers who have resided outside the US since 2009 and […]
Detection: The IRS Data-Mining Program
‘Big Data’ is the future. With this digital age of transparency, we create 2.5 quintillion bytes of data every day. The game-changers – companies like Amazon, Google, Facebook and Linkedin have been masters at taking our own data and giving us very specific and personalized recommendations for products, services, friends, food, business partners, hobbies, investments, […]