Success for the US Offshore Voluntary Disclosure Programme

US taxpayers that are using the IRS’s OVDP (Offshore Voluntary Disclosure Programme) number has increased to 85,000 generating almost US$8 billion in extra revenue since the launch in 2009.

India requests Switzerlands assistance to help combat tax evasion

India has been offered legal support from Switzerland regarding the case of a high-profiled married couple that is been suspected of evading taxes while hiding money within a HSBC bank account in Geneva.

US authorities increase scrutiny on Swiss banks

Swiss Banks sign amnesty agreements disclosing tactics, providing US prosecutors with valuable information.

Cross-border E-shopping may be subject to a wider taxation

In an effort to collect more tax eluding from cross-border transactions carried out online, the OECD is calling on governments to try to collect more tax revenue.

Cyprus is a well-known regional financial hub

Cyprus is planning to introduce tax incentives to attract high net worth fund Managers, as well as reducing the personal income tax rate by half of those who earn over €100.000 a year.

Singapore tax system complies with latest OECD proposals

The OECD (Organisation for Economic Co-operation and Development) announced earlier this month a number of new tax proposals. Those proposals are aimed at preventing aggressive tax planning by multinationals.

Wealth exported overseas shrinks the Russian economy

Approximately 80% of Russia’s economic wealth was moved overseas according to leading academic research.

UK: UK domiciled or non-domiciled

The Treasury in the UK is planning to restrict claims for non-dom status for tax purposes and must be filed by early November this year for the government to consult.

UK SMEs vs the new dividend tax reforms

The recent reforms on dividend taxation in the UK has raised frustration among 25,000 congregated business owners who are currently rallying against the changes.