Search Results (1473)
Documents on Taxation, Banking & Financial Services
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|Foreign Asset Disclosure, Financial Reporting and Tax Planning in a Complex World|
Alison V. Lennarz; Kaufman & Canoles A Professional Corporation;
September 11, 2014Globalization, and the interwoven economies of countries around the world that result from it, is only gaining momentum. Increasingly sophisticated communications and transportation technologies and services, mass migration and the movement of peoples, a level of economic activity that has outgrown...
|Non-Dischargeable Tax Debt Not Special Class of Unsecured Creditors|
Scott St. Amand, J. Ellsworth Summers; Rogers Towers, P.A.;
August 28, 2014, previously published on August 26, 2014In numerous previous posts, we have noted that the purpose of the Bankruptcy Code is to help the “honest but unfortunate debtor.” Like gerrymandering, certain “creative” debtors have attempted to classify their non-dischargeable debt as a separate, special class of unsecured...
|Chile and the United States Sign the Inter-Governmental Agreement ("IGA") Within the Scope of the Foreign Account Tax Compliance Act ("FATCA")|
Diego Peralta, Jessica Power, Elena Yubero; Carey;
August 15, 2014FATCA is a United States Act that requires US persons, including individuals who live outside the United States, to report their financial accounts held outside of the US, and requires foreign financial institutions ("FFIs") to report information regarding their US clients to the US...
|New Tax Rules for Loans Taken Out By UK Resident Non-Domiciliaries|
Withers Bergman LLP/Withers LLP;
August 6, 2014, previously published on August 5, 2014With effect from 4 August 2014, HMRC have changed, without notice, their stated position with respect to the treatment of commercial loans to UK resident and non-domiciled individuals. Action is required if individuals wish to avoid paying additional tax as a result of their existing arrangements.
|Congress Scrutinizes Hedge Funds’ Use of Financial Derivatives|
Bruce M. Bettigole, Thomas A. Cullinan, Yasho Lahiri, William R. Pauls, W. Scott Sorrels; Sutherland Asbill & Brennan LLP;
July 30, 2014, previously published on July 25, 2014This week the Senate Permanent Subcommittee on Investigations, Committee on Homeland Security and Governmental Affairs (Subcommittee), in conjunction with the Subcommittee’s hearing on July 22, 2014, released a report on hedge funds’ use of financial derivatives considered abusive. In...
|Excess Lines Association of New York Advises on Foreign Account Tax Compliance Act (FATCA) Compliance|
Colodny Fass Talenfeld Karlinsky Abate Webb P.A.;
July 22, 2014, previously published on July 18, 2014In Bulletin No. 2014-15 issued yesterday, July 17, 2014, the Excess Lines Association of New York ("ELANY") responded to questions it has received to date about the implementation of the Foreign Account Tax Compliance Act ("FATCA"), which is scheduled to go into effect under its...
|Latest Swiss Cross-Border Tax Investigation Reflects Wider US Enforcement Agenda|
Ryan Dennis Junck, Sean P. Shecter; Skadden, Arps, Slate, Meagher & Flom LLP;
July 3, 2014, previously published on June 26, 2014Authorities in the U.S. continue to crack down on foreign financial institutions that have allegedly aided U.S. taxpayers in evading their tax obligations. On May 19, 2014, Credit Suisse AG pled guilty to conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other...
|US Banking Regulators Issue Additional Guidance Regarding Tax Allocation Agreements in Holding Company Structures|
Scott A. Anenberg, Hayden D. Brown, J. Paul Forrester; Mayer Brown LLP;
June 30, 2014, previously published on June 20, 2014US banking regulators (the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency) have issued final joint supplemental guidance (Guidance) regarding tax allocation agreements involving holding companies and...
|Highlights of the Québec Government's 2014-2015 Budget Relating to Businesses|
Angelo Discepola, Johnathan Landry, Marie-Soleil Landry, Ryan Rabinovitch; McCarthy Tétrault LLP;
June 11, 2014, previously published on June 5, 2014Following the defeat of the Parti Québécois on April 7, 2014, taxpayers were left facing some uncertainty with respect to the fate of Bill 55, which sought to introduce the Parti Québécois’ reform to the mining tax regime, which was to apply to fiscal years...
|Impact of FATCA on ORSO Schemes in Hong Kong|
Duncan A. W. Abate; Mayer Brown JSM;
May 29, 2014, previously published on May 27, 2014The Foreign Account Tax Compliance Act (FATCA) is an invasive piece of US legislation. It is designed to identify tax avoidance being undertaken by US entities. It does this by imposing a 30 percent withholding tax on any US investments unless certain information is disclosed to the US tax...