Cross-border tax issues, expat filing rules, and international tax policy — because taxes don’t stop at the U.S. border.
Despite widespread rumors that UBS might settle with the US government, there was no movement on the matter. The case, brought by the US government, focuses on the release of names of more than 50,000 US taxpayers who might have hidden assets in Switzerland for the purpose of evading tax. This time it is the…
If the news that US tax revenues have fallen was disturbing, then this may be even worse: China’s tax revenues are expected to grow by 10% in 2009. The increase comes on the heels of a successful 2008 year in China, where tax revenues climbed 18.8% to 5.42 trillion yuan ($792.68 billion). The “global crisis”…
Tata may be the biggest company that you’ve never heard of. The car manufacturer, which holds the distinction of having built the cheapest car ever, the Tata Nano, is India’s largest company in the automobile and commercial vehicle sector. In 2007, it was one of the top 20 largest automakers worldwide and was ranked globally…
Rumors have been swirling for months that a settlement between UBS and the Justice Department would be announced in mid-July. Specifically, The New York Times had implied that the feds were backing off demands for the Swiss bank to release the names of more than 50,000 Americans with secret accounts. The idea that no names…
In an effort to recover income from funds that might have been hidden offshore, the US introduced a Voluntary Compliance Program that offers reduced civil penalties and no criminal penalties. At the time, IRS Commission Doug Shulman described the program as stating: The goal is to have a predictable set of outcomes to encourage people…
Taxpayer asks: I was going to leave a comment on your post this morning but it’s more of a question. Is it true that the Swiss do not have a military? I ask because I thought that all of these countries that losing tax money to the Swiss are the ones that spend money to…
As it turns out, the Swiss do have a little fight left in them after all. The Swiss government has now advised that it would seize financial records from UBS rather than allow them to be turned over to the US. The Swiss Department of Justice and Police filed a statement in federal court advising…
Tax attorneys for Amazon.com must be working overtime these days… This week, Amazon.com learned that it faced another affiliate challenge: in Japan. This time, however, rather than its affiliate sales program, the focus is on corporate affiliates for Amazon.com. The two affiliates in question are Amazon Japan and Amazon Japan Logistics, which, exactly as they…
The New York Times says yes. The Justice Department says no. I’m not sure what to believe but it does make you wonder what’s going on… The Times has suggested that the DOJ may back off its investigation of more than 52,000 über rich Americans who held secret accounts at the Swiss bank, UBS, citing…
I know, I know. This doesn’t even feel like news. We’ve seen it coming for a while now, ever since Jenkens & Gilchrist made an announcement on its web site in 2007. At the time of the closing, Jenkens agreed to pay a civil penalty of $76 million and cooperate with the IRS and the…