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Cash hits back at Maher over Bermuda ‘rant’

A US comic who branded Bermuda “a tax loophole masquerading as a country” has been blasted by the Island’s business sector. Real Time host Bill Maher launched his attack on the Island on his top-rated show after a report on offshore jurisdictions was...
Jun 11, 2014
Other

Bermuda labelled ‘notorious tax haven’ by new report

Bermuda has been branded a “notorious tax haven” by a new report on the use of offshore financial centres by US corporations aiming to cut their US tax bill. The report, prepared by Richard Phillips and Steve Wamhoff of Citizens for Tax Justice and ...
Jun 09, 2014
Other

More than 1,200 Bermuda entities have signed up to FATCA

More than 1,200 Bermuda-based banks, trust companies, insurers and investment entities have signed up with the US tax authorities to comply with a law designed to fight tax dodging by Americans. The US Treasury announced yesterday that about 77,000 b...
Jun 03, 2014
Other

Don’t miss these important US tax deadlines

United States citizens and residents living abroad face two important filing deadlines in June 2014, namely the filing of their 2013 US Federal individual income tax return and the filing of the Report of Foreign Bank and Financial Accounts. 2013 US ...
Jun 03, 2014
Other

Is your Bermuda pension liable for US tax?

US taxpayers living outside the United States continue to be confused about when they have to file their 2013 US Federal individual income tax returns and when they have to pay their 2013 income tax and 2014 Federal estimated income tax and there is ...
May 20, 2014
Other

Financial statements given unqualified audit

Government’s financial statements for the 2012/13 fiscal year have been given an unqualified audit for the first time in six years. The statements for the Consolidated Fund — Government’s general operating account — were tabled in the House of Assemb...
Mar 22, 2014
Other

Washington Mall part-owner under fire in UK over tax

The UK-based developer of Washington Mall has been slammed for tax avoidance. The multibillion dollar Peel Group — which owns 40 percent of the Hamilton shop and office complex — has come under fire for using offshore registration to cut its tax bill...
Mar 20, 2014
Other

Growing scrutiny from UK tax authorities

Do you travel to the United Kingdom to visit a UK subsidiary, parent company or another affiliate of the group? If so, has the UK entity entered into a Short Term Visitor Agreement (STBV) with the HM Revenue & Customs (HMRC)? If not, as of April 6, 2...
Mar 19, 2014
Letters to the Editor

Where the wealthy ones are

March 10, 2014 Dear Sir, My letter of last week identified the middle and low income families as shouldering the majority of austerity measures/job losses. To be fair and just, I proposed increasing taxes on high earners and wealthy land owners. Thes...
Mar 13, 2014
Letters to the Editor

Time to tax higher earners

3 March 2014 Dear Sir Today’s headlines in your newspaper that Health Minister Trevor Moniz has indicated cuts to his Ministry of $17.6m will cause some patients, particularly the elderly, to suffer distress has prompted me to write this letter. Whil...
Mar 05, 2014
Other

Tax Reform Act aims to simplify US tax code

The House Ways and Means Committee released an almost 1,000-page discussion draft entitled Tax Reform Act of 2014. The stated purpose of the proposed legislation is to lower individual and corporation income tax rates, simplify the Internal Revenue C...
Mar 04, 2014
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