18 and 19 January 2017, the US signed Model 1 intergovernmental agreements (IGAs) with Bahrain and Greece respectively US to facilitate compliance with the US Foreign Account Tax Compliance Act (FATCA) by financial institutions (FIs). FATCA is intended to ensure that the US Internal Revenue Service obtains information on financial accounts held at foreign financial…
A recente ratifica ed esecuzione della Convenzione tra Italia e Panama, siglata a Roma l’ormai lontano 30 dicembre 2010 ed entrata in vigore con la pubblicazione della Legge n. 208/2016 (G.U. 21.11.2016 n. 272), non rappresenta la sola e positiva conclusione di un accordo tra due Giurisdizioni ma – in piena epoca voluntary bis – sembra costituire una vera e…
Con il nuovo anno è entrata in vigore in Svizzera l’ordinanza sullo scambio automatico di informazioni (SAI) in materia fiscale. Da questo momento possono essere raccolti dati bancari. I primi scambi con l’Unione europea (UE) avverranno dal 2018. Nel luglio del 2014, il Consiglio dell’Organizzazione per la cooperazione e lo sviluppo economico (OCSE) ha approvato…
Al meeting organizzato a Parigi il 16 e il 17 gennaio 2017, 30 amministrazioni finanziarie hanno condiviso le loro conclusioni sulle indagini dei Panama Papers, in particolare sul ruolo degli intermediari fiscali, inclusi istituzioni finanziarie, consulenti, avvocati e commercialisti, che hanno favorito l’evasione e l’elusione fiscale. La riunione della task force ha visto il più…
12 January 2017, a French court acquitted art dealer Guy Wildenstein and seven others in a case which the prosecution claimed was “the most sophisticated and longest” case of tax fraud in postwar France. It had requested a €250 million fine and a four-year jail sentence, two suspended. The French tax authorities launched a criminal…
10 January 2017, an opinion issued by the EU Court of Justice (CJEU) found that Luxembourg should allow a company to challenge the legality of an information order issued in support of a French exchange of information request on the grounds that the request lacks “foreseeable relevance”. In Berlioz Investment Fund SA v Directeur de…
12 January 2017, the European Court of Human Rights rejected UBS’s challenge to a €1.1 billion security which had been imposed by the French authorities in 2014 in the context of the court supervision of the Swiss bank, which has been placed under formal investigation for alleged illegal direct selling of banking products and aggravated…
1 January 2017, the UK government introduced new civil penalties for the facilitators of the tax evasion who provide planning, advice or other professional services or physically move funds offshore. HMRC will also be able to name the enabler publicly. The Treasury said the government’s new powers would see individuals or firms who take deliberate…
6 January 2017, the Financial Services and Treasury Bureau (FSTB) released for public consultation two proposals dealing with the regulation of designated non-financial businesses and professions (DNFBPs) and enhanced transparency of corporate beneficial ownership. Under the first proposal, a licensing regime is to be introduced for trust and corporate service providers (TCSPs) and the scope…
6 January 2017, the Irish Revenue issued new guidance on the disclosure of foreign income and assets, outlining changes to the voluntary disclosure rules that will prevent individuals from benefitting from lower penalty rates when the disclosure relates to “offshore matters” It noted that restrictions introduced in the Finance Act 2016 include a measure to…
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