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WASHINGTON (Bloomberg) — President Barack Obama’s latest budget plan narrows the gap between the two parties on US business taxes, offering the glimmer of a potential agreement. His proposal would require US companies to pay taxes on foreign income, ...

BRUSSELS (Bloomberg) — Companies will be forced to disclose their ultimate owners on national registers in European Union nations as the bloc seeks to clamp down on tax dodging, money laundering and terrorism financing. European Parliament legislator...

About 99 per cent of the projected hotel tax revenue to be collected by the Bermuda Tourism Authority (BTA) is up-to-date. A BTA spokesman reported the numbers after the topic of hotel tax arrears was discussed in the House of Assembly. Tourism Minis...

The US Treasury estimated that it will cost foreign banks and financial institutions $8 billion to comply with Fatca. This amount does not take into account the amount of time and cost that US citizens will need to take to comply with the demands of ...

LONDON (Bloomberg) — The UK became the latest country to take aim at multinational tax avoidance, announcing a new levy on companies that “artificially” shift their profits into havens, a move prompted by growing international outrage at manoeuvres u...

On 13 February 2014, the Organisation for Economic Co-operation and Development (OECD) released a framework document for the Common Reporting Standard (CRS), which is intended to become the new global standard for automatic exchange of financial info...

British media including national newspaper The Independent and leading business publication the Financial Times (FT) is reporting that Bermuda will not cooperate with a UK call to make the identities of company owners public. The FT story states that...

Small- and medium-sized firms are unprepared for tough new US tax reporting legislation, a survey has found. Software firm Blue Bison, part of the Ignition group of companies, found that more than half of respondents to its readiness survey admitted ...

A recent Internal Revenue Service ruling now allows certain individuals to move after tax contributions from a 401(k) or IRA to a Roth IRA on a tax free basis. Fatca has caused local banks to document which of its clients are US citizens or residents...

Bermuda has signed up to a new international agreement to allow automatic exchange of financial information in a bid to crack down on tax cheats. Now the Island and 50 other countries will begin the exchange of information, backed by the Organisation...