Several members of the billionaire Sackler family have recently come under fire in the United States. The family has already been under fire due to its ownership of Purdue Pharma, the company that created and marketed the infamous opioid drug, Oxycontin. Now they find themselves the target...
The Automatic Exchange Of Information is an agreement among governments around the world to share non-resident financial account information to reduce the possibility and ability of nefarious people to engage in tax evasion. The Automatic Exchange Of Information requires banking officials to send a foreign account...
With the assistance of the Internet, many companies can easily generate relationships with potential customers across the globe. What that means is that sales could be generated from their home country or from anywhere in the world. These companies, referred to as transnational corporations or TNCs must,...
FATCA or the Foreign Account Tax Compliance Act is a tax law requiring United States citizens both abroad and within the country to file yearly reports regarding any foreign account holdings. The intention of this act is the promotion of transparency in the international financial services sector...
When corporations make plans to evade taxes, they rarely consider the impact that tax evasion has on both developed and developing nations. According to the Tax Justice Network, there is an estimate of between $21-$32 trillion that is associated with private wealth held offshore. The annual...
Taxation laws and requirements vary dramatically by country, and this variation has created the framework for tax havens. A tax haven is a country that provides substantial advantages to taxpayers because of its tax system. A tax haven's system may include a lower tax rate, more lenient...
Tax evasion is illegal. U.S. citizens can go to jail and also be charged with substantial penalties for this crime. That's why it is so important to understand what constitutes tax evasion. If you aren't comfortable filing your own tax return then it makes sense to hire...