News

Price of gold hits 5 year low

Gold rate plummeted to 4%; it’s lowest in over 5 years as of this week, with the rates of platinum also sinking to 5%, which is its weakest rate since 2009 as investors sell off their minerals and precious metals.


IMF warns US of early interest rate increase

The International Monetary Fund (the IMF) has warned of a potential risk of growing economic threats to the US, with share prices hitting unsustainable levels after conducting a health check on the largest global economy.


Prince in Saudi Arabia will donate his $32B fortune to charity

Last week, Saudi Arabia's billionaire Prince Alwaleed bin Talal vowed to donate his entire $32-billion (€28.8-billion) fortune to a variety of upcoming charitable projects in the next few years.


Foreign banks are refusing to accept US citizens due to FATCA requirements

Rand Paul, the Senator of Kentucky and the US Presidential candidate is looking to prosecute the IRS (Internal Revenue Service) regarding a court testimony that its Foreign Bank Account Reporting (FBAR) regime and the Foreign Account Tax Compliance Act (FATCA) are unconstitutional.


Japan & the US finish trade deals for mutual benefit

The US and Japan and are looking to resolve matters to ensure that a Trans-Pacific Partnership (TPP) deal between 12 different states can be arranged during a ministerial meeting expected to take place sometime in July, a Senior Official for Japan has revealed.


US schools more likely to expel Chinese students

According to research, schools in the United States were found to be more likely to expel Chinese students for poor academic performance. It is estimated that about 8,000 Chinese students, or about 3% of the total student body in the US, have been expelled from schools for poor performance in 2015 .


US: New tax model hopes to combat profit shifting by corporations

The Treasury Department in the US have released draft provisions laying out extensive and comprehensive amendments to its laws on double taxation treaties. The requirements attempt to reject financial aid to businesses that change their tax residence using an inversion transaction, as well as to address…


China & the US continue to exchange data regarding espionage

The US have been suspicious of China's activities in relation to stealing secret information and espionage activities.The authorities in the states have commenced legal proceedings on a group of Chinese citizens for economic espionage and theft of trade secrets.


US: Withholding tax refunds to be refused to non-residents who are not paying in full

The Internal Revenue Service in America will start to reject any refund requests of amounts overpaid on withholding tax to foreigners (non-domiciled persons) who are not up-to-date with paying their tax. The new rule will apply to any unpaid amount throughout the 2015 calendar year as well as the following…