The list below is a collection of articles that refer to, mention or discuss Offshore
Expats living in France face financial confusion as the country’s lawmakers drag their feet over whether to tax them over the rent and pensions they earn in other countries. The issue is over whether an expat’s rental or pension income should be assessed for tax in France – but only if the expat has paid [...]
Tax authorities across the world are targeting the wealthy and businesses shrouding their financial affairs in offshore havens after a huge amount of sensitive financial information was leaked by a whistle-blower. The data reveals the names behind secret accounts in the Cayman Islands, British Virgin Islands, Cook Islands and Singapore. In Britain alone, HM Revenue [...]
Tax authorities in the US have been told to step up the hunt for taxpayers with overseas accounts after a report revealed how lucrative the move could be for the government. The report lists a number of recommendations from the Government Accountability Office (GAO) which could see many more taxpayers finding themselves facing hefty fines [...]
British taxpayers who have been hiding money and assets in offshore accounts are being urged to come clean and use a disclosure facility before the taxman comes knocking. The warning comes from HM Revenue and Customs (HMRC) who say that anyone who’s been hiding investment and assets in Guernsey, Jersey or the Isle of Man [...]
Despite their reputations taking a severe knock, the world’s offshore financial centres have managed to bounce back in popularity, according to a new report. The Global Finance Centre Index, produced by research group Long Finance, uses a mix of criteria to gauge the attractiveness of the world’s financial centres. The index reveals that the leading [...]
Expats need to consider if a QROPS pension, short for Qualifying Recognised Overseas Pension Scheme, is right for you if you are a British Expat or international worker with UK pension rights who has taken the decision to live away from the UK permanently – or you are looking at your retirement options abroad. This article [...]
The British tax man is cracking down on taxpayers who are failing to hand over complete financial dossiers about their overseas holdings in return for reduced penalties. The Liechtenstein Disclosure Facility (LDF) lets taxpayers who have not declared income or assets in Liechtenstein tell HM Revenue & Customs about any undeclared tax in return for [...]
The British version of FATCA is gathering pace as yet another formerly secretive financial centre has signed up to the tax information sharing agreement. Now, Britain has FATCA-style agreements with the Isle of Man, Guernsey and Jersey – and the government promises to pick off other former UK territories and dependencies in the fight against [...]
For anyone who is working overseas or looking to retire abroad and wanting to invest their pension in a tax effective way may be forgiven for the confusion over Qualifying Recognised Overseas Pension Scheme (QROPS) and a Qualifying Non-UK Pension Scheme (QNUPS). That’s because, strictly speaking, all QROPS are QNUPS but not all QNUPS are [...]
Failure to come clean about offshore accounts when using HM Revenue and Customs’ Overseas Disclosure Facility (ODF) could lead to severe penalties. HMRC warns that its campaigns are not amnesties and that people will have to pay all their tax, interest and penalties regardless of what they declare. This means that anyone failing to declare [...]
For an expat moving abroad the issue of where they keep their money is a number one priority. Many will find an offshore account which is an offshoot of a well-known British high street bank or building society is their best option. Others will opt to open an account with a local bank in the [...]
Expats scratching around for reasonable returns on their savings accounts are finding most offshore banks and building societies are cutting rates to less than generous levels. Interest rates have headed down for months – but playing the margins is the name of the game for some savers. Spotting rate anomalies can bring profits – for [...]
The latest country to sign a FATCA tax agreement is Switzerland – formerly a bastion of banking and investment secrecy. The Swiss join the UK, Mexico, Ireland, Spain, Norway, Denmark and Italy as the first countries ready to implement FATCA – the US Foreign Account Tax Compliance Act – from January 2014. Another country announcing [...]
The veil of secrecy over financial dealings of the wealthy in the Cayman Islands is lifting for the first time. In a bid to give the Caribbean islands a makeover to attract foreign investment, the authorities are ready to open company and hedge fund registers to the public – and the names of their directors. [...]
The Italian government has announced a major drive to clampdown on taxpayers who hide their assets offshore – in a country where evading the taxman is a national sport. With a fiscal debt of around £1.7 trillion, the Italians have launched what is an unprecedented campaign to generate more tax revenue. Among the moves are [...]
Below is what happened in a week in Expats Finances, as reported on iExpats and from other places across the web. From iExpats.com: Economic Crisis Of Confidence For Business Leaders The economic crisis is still failing to inspire confidence in chief executives around the world, with two thirds expecting more financial problems to come in [...]
British expats must comply with a new Spanish tax reporting requirement or face hefty fines. Brits who now live in Spain must tell the Hacienda – the country’s tax authority – about any offshore assets valued at more than £43,000. The move will net most expats, which Spanish authorities say, is aimed at targeting tax [...]
You don’t have to be a millionaire to enjoy the benefits of having an offshore bank account – they are open to everyone. Expats living and working abroad find them useful since they can pay salaries and pensions in to the account with any currency and then withdraw in the currency where they live. Most [...]
The targets of Britain’s ‘Son of FATCA’ proposed law to find out about cash and investments taxpayers hold overseas is becoming clearer. A list of offshore financial centres has emerged as the focus of the move. Dubbed ‘Son of FATCA’ after the US Foreign Account Tax Compliance Act (FATCA), the British law will require financial [...]
The predicted upturn in the US economy will also boost the country’s property market for overseas investors, says real estate firm Collier’s International. In their annual Global Investor Sentiment Survey, the firm says investors will be looking for ‘safe haven’ destinations to protect their money. A survey of 500 property investors from around the world [...]
FATCA Critics Fears Arrest by US Authorities : The founder of a web-based platform which, amongst other expat issues, discusses the impact of the F...
FATCA Timeline After Deadline Changes : The IRS has pushed back the start date of FATCA – the Foreign Account Compliance Tax Act – from Janu...
EBT Ruling Hits Thousands of Banking Staff : Around 2,000 British employees of the US bank JP Morgan must pay income tax and national insurance c...
Interview: James Jatras, Lawyer and Anti-FATCA Lobbyist : James Jatras, a former US Diplomat and US Senate staffer, who now runs a legal firm in Washington D....
FATCA Closes Swiss Bank After Admitting Tax Evasion : The first big banking scalp has been claimed as US authorities enforce FATCA, a clampdown on financi...
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