“You better start swimmin’ Or you’ll sink like a stone For the times they are a-changin’. – Bob Dylan – Jack Townsend of Federal Tax Crimes reports (emphasis is mine): There are reports that the Swiss Government in moving / inching toward real exchange of information under its double tax treaties, which are, like most [...]
Tags: International Taxation · News · Tax Crimes
Paul Caron has some big news: Bloomberg, Bill Clinton Backs U.S. Tax Holiday on Foreign Profits, With Caveats: Former U.S. President Bill Clinton endorsed a tax holiday on repatriating offshore profits with conditions, taking a position contrary to the Obama administration. “I favor it under certain circumstances,” Clinton said in an interview with Bloomberg Television’s [...]
Tags: Corporate Tax · International Taxation · News · Tax Policy
Joe Kristan writes in Darth Shulman to Foreign Account Holders: I am Altering the Deal. Pray I Don’t Alter it any Further: Jack Townsend explains the IRS bait and switch in its 2009 foreign account “amnesty”: …the Taxpayer Advocate criticizes the IRS’s implementation of its statement in the 2009 Voluntary Disclosure Program that “[U]nder no circumstances will [...]
Tags: International Taxation · IRS Audits · IRS procedure · voluntary disclosure
From Paul Caron: Brett Freudenberg & Mahmood Nathie (both of Griffith Business School) have published The Constitution and Islam: Are Tax Reforms Possible to Facilitate Islamic Finance?, 20 Revenue L.J. 1 (2011). Here is the abstract: Islamic banking and finance is emerging in global financial markets and governments seek to facilitate it. This article focuses on whether [...]
Tags: International Taxation · Tax Policy
“Amish homes do not draw power from the electrical grid. They feel that that would excessively connect them to the world.” - Beliefs of the Amish, Religious Tolerance Website - By all accounts the Amish are a peace loving, amiable people. I have no quarrel with them or their austere lifestyle. But now it appears that [...]
Tags: International Taxation · News · Payroll Taxes
Kay Bell reports that France has dropped its attempts to tax Google: Last year France began exploring ways to tax Google and other big online advertising companies. That effort is now dead. The New York Timesreported last week that French President Nicolas Sarkozy’s party has withdrawn legislation seeking to impose a 1 percent tax on [...]
Tags: International Taxation · Philosophy · Politics of Taxes
Taxpayers living abroad must file their 2010 tax returns by June 15, 2011. And individuals owning an interest in a foreign account must file form TD F 90.22-1 by June 30, 2011 or face steep penalties: June 15 Tax Deadline Nears for Americans Abroad; Don’t Forget to Report Foreign Accounts IR-2011-66, June 10, 2011 WASHINGTON [...]
Tags: Announcements · Individual Taxation · International Taxation · voluntary disclosure
