UK Budget: QROPS, non-dorms, avoidance

8 March 17, the UK government announced a 25% overseas transfer charge on certain transfers from a UK-registered pension scheme to a qualifying recognised overseas pension scheme (QROPS) and transfers of UK tax-relieved funds to a QROPS made on or after 9 March. The charge will not apply where the member is resident in the…

US authorities raid Caterpillar over Swiss tax strategy

2 March 2017, US law enforcement officials searched the headquarters of heavy machine manufacturer Caterpillar and two other facilities as part of a tax investigation linked to the firm’s Swiss parts subsidiary, Caterpillar SARL, in Geneva. In a 2014 report the US Senate permanent subcommittee on investigations said that Caterpillar had adopted “a tax strategy…