Officials from Bermuda and Aruba have signed a Tax information Exchange Agreement which will allow complete exchange of information between the two countries in criminal and civil tax matters. This TIEA is the 18th concluded in Bermuda´s bid to adopt the OECD´s international standard for financial transparency. . »
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UNPUBLISHED DOC ILLUSTRATES FURTHER BANK SECRECY PLANS
United States and EU officials have plans to give themselves greater access to each other´s secret banking databases – reports German newspaper Handelsblatt. An unpublished paper from the office of the EU President indicates that authorities aim to track terror payments more ruthlessly by sharing access to banking information, rather than through simple reveiws... »
IRELAND AND LIECHTENSTEIN SIGN TIEA
Irish and Liechtenstein authorities have penned a tax information agreement that will allow greater cooperation between the two countries over tax matters. The TIEA allows Irish tax authorities to ask for information concerning Irish citizens suspected of tax evasion, such as confidential offshore bank account information or documents which indicate beneficial ownership of an... »
”RICH LIST” TYCOON REFUSED BAIL FOR £111M WALL STREET FRAUD
A business tycoon who invested in the Miss World competition and was even included in the Sunday Times Rich List faces a lengthy jail sentence after conviction for his part in a $175m wall street share fraud. Trevor Baines, a millionaire several times over, collapsed in an Isle of Man court and received medical... »
BERMUDA, FRANCE SIGN TAX INFORMATION EXCHANGE AGREEMENT
Officials from Bermuda and France have announced a bilateral TIEA that will ensure full information exchange in civil and tax matters between the two parties. The agreement follows previous statements by French President Nicolas Sarkozy that ”tax havens” which do not follow article 26 of the OECD model tax convention should face sanctions. http://www.reuters.com/article/pressRelease/idUS131870+09-Oct-2009+BW20091009 »
TAX CRACKDOWN UNEARTHS OFFSHORE BANK ACCOUNT SECRETS
A six month amnesty programme for offshore account holders renewed last month has recived over 3000 applications, according to the IRS. The tax amnesty offers those with undisclosed offshore accounts the chance to escape heavier fines and criminal prosecution, in return for a full confession and full payment of back-taxes with interest. Many of... »