FATCA or the Foreign Account Tax Compliance Act is a tax law requiring United States citizens both abroad and within the country to file yearly reports regarding any foreign account holdings. The intention of this act is the promotion of transparency in the international financial services sector and for...
President Barack Obama has set forth an important initiative with the aid of Congressman Neal, Senator Kerry, Chairman Baucus and Rangel. The agenda is to empower the government of the United States of America to combat oversea tax havens, such as Swiss bank accounts.
The president has partnered with...
The Automatic Exchange Of Information is an agreement among governments around the world to share non-resident financial account information to reduce the possibility and ability of nefarious people to engage in tax evasion. The Automatic Exchange Of Information requires banking officials to send a foreign account holders' financial...
When corporations make plans to evade taxes, they rarely consider the impact that tax evasion has on both developed and developing nations. According to the Tax Justice Network, there is an estimate of between $21-$32 trillion that is associated with private wealth held offshore. The annual global losses...
In a recent announcement made by the ConDem government, they've indicated that they will make further developments in its current plans to make the UK a tax haven nation. Many multimillionaires from foreign countries prepare to react accordingly. There has been a shift in offshore investments typically held...
The Flexible Spending Arrangement, FSA is a unique savings account. The account allows the holder to enjoy specific tax exclusions that result in rollout tax savings.
The unique account arrangements are typically set up for an employee by their employer. With the special arrangements, if the employee fails to use...
