Paul Crean and Jonathan Pitkin (BDO) provide an overview of recent developments which promote increased tax transparency.
Over the next two years taxpayers will find themselves facing a wide range of measures designed both to give tax authorities more information on a global basis and also to reassure the public that multinational companies and high net worth individuals are paying the right amount of tax. Taxpayers can be forgiven for struggling to keep track of the multiple requirements. This article provides a digest of key legislation and deadlines.
Tax information exchange (TIE) agreements
UK financial institutions (FIs) were required to report to HMRC under both FATCA and the International Tax Compliance (Crown Dependencies and Gibraltar) Regulations SI 2014/520 by 31 May 2016; and thereafter annually on the same date under FATCA and the Common Reporting...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
Paul Crean and Jonathan Pitkin (BDO) provide an overview of recent developments which promote increased tax transparency.
Over the next two years taxpayers will find themselves facing a wide range of measures designed both to give tax authorities more information on a global basis and also to reassure the public that multinational companies and high net worth individuals are paying the right amount of tax. Taxpayers can be forgiven for struggling to keep track of the multiple requirements. This article provides a digest of key legislation and deadlines.
Tax information exchange (TIE) agreements
UK financial institutions (FIs) were required to report to HMRC under both FATCA and the International Tax Compliance (Crown Dependencies and Gibraltar) Regulations SI 2014/520 by 31 May 2016; and thereafter annually on the same date under FATCA and the Common Reporting...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
