On 8 December 2022, the United States and Croatia signed their first convention for the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income. With this development, Croatia becomes the latest, and the only remaining, European Union member state to sign its first tax convention with the US.
On 2 November 2022, the Swiss Federal Supreme Court upheld the Swiss Federal Administrative Court’s ruling that information can be exchanged to investigate criminal tax matters pursuant to an information exchange request by a foreign tax authority. However, use of the information exchanged for non-tax enforcement purposes is impermissible.
In its press release published on 26 October 2022, The Financial Crimes and Enforcement Network announced that its Acting Director renewed and expanded its Geographic Targeting Orders beginning on 27 October 2022 and ending on 24 April 2023 (with certain exceptions).
This webinar on 17 January 2023 will explore key questions and examples of the state of play of crypto (or digital) assets across a number of jurisdictions and the tax impact and rules on employee compensation as well as considerations from a wealth management perspective.
On 29 September 2022, FinCEN released the final regulations regarding Beneficial Ownership Information Reporting Requirements which implement the beneficial ownership information reporting provisions of the Corporate Transparency Act.
On 8 December 2021, Treasury issued Notice of Proposed Rulemaking to allow the public to review and comment on proposed regulations to implement the beneficial ownership information reporting provisions of the Corporate Transparency Act. Passed on 1 January 2021, the CTA imposes on so-called “Reporting Companies” the obligation to report to Financial Crimes Enforcement Network information regarding their “Beneficial Owners” and company “Applicants.”
Welcome to our first quarter issue of the Private Wealth Newsletter. Our featured insight for this issue is a discussion of the passage of the Corporate Transparency Act by the United States to introduce federally-mandated beneficial ownership reporting obligations for US corporations and limited liability companies. We also include insights…
Click here to request the latest edition of this newsletter. Feature Malaysia: Wealth management and tax planning in the wake of COVID-19 Case Summaries Brazil Private Letter Ruling No. 41 of 31 March 2020 — tax treatment of trust distributions to Brazilian beneficiaries France Wealth tax — The refusal to…
On 21 March 2019, the US Internal Revenue Service (IRS) issued final regulations (the Final Regulations) relating to FATCA verification and certification requirements. FATCA Sponsoring entities, trustees of trustee documented trusts (TDTs) and compliance financial institutions should review their FATCA compliance under the Final Regulations to ensure compliance. The Final…