Taxes Offshore

Friday, 08 December 2023

Latest News for: Taxes offshore

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Peter Schiff Says Global Tax Chiefs’ Only Enforcement Success Is Its ‘Failed’ Action Against His Bank

Bitcoin 08 Dec 2023

Economist Peter Schiff says the only enforcement success of the Joint Chiefs of Global Tax Enforcement (J5) is its “failed” action against his bank, allegedly aimed to “put a stop to the suspected facilitation of offshore tax evasion.” Schiff stressed.

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Offshore wind leases can and should bring revenue to states

The Hill 07 Dec 2023

Today, it’s also inspiring a highly promising industry — offshore wind energy — that could help U.S. coastal states harness new tax revenues to invest in coastal infrastructure and resilience while advancing the country’s transition to a clean energy economy ... offshore wind project ...

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HMRC tax on crypto coming for UK: will it effect Bitcoin’s bull run?

Invezz 07 Dec 2023

recent signs from the revenue service point to an incoming tax on crypto ... On November 29th, the government issued a statement named, unambiguously, ‘Pay tax on cryptoassets’ ... CARF will provide for the automatic exchange of information between tax authorities on crypto exchanges for the purpose of combating offshore tax avoidance and evasion.

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‘Crazy rich’ Chinese making headaches for Singapore

Asiatimes 07 Dec 2023

Investment management firms have seized on a variable capital company (VCC) scheme launched in Singapore in 2020, similar to those renowned in offshore hubs like the Cayman Islands and Luxembourg that provide tax and legal shelter for hedge funds, venture capital and private equity firms, among others.

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Swiss bank helped US taxpayers hide billions

Russia Today 06 Dec 2023

According to investigators, Banque Pictet and its parent company, the Pictet Group, used “a variety of means” to help American customers evade taxes, including allowing offshore entities to open undeclared accounts and allowing clients to open life-insurance accounts in names other than their own.

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Confident that GST issues will be resolved soon, says E-Gaming Federation chief

Live Mint 06 Dec 2023

These companies run their businesses on remote servers, use offshore accounts which are banned by the government, and don’t pay tax even as they advertise in India. Games of skill – which include real-money games – are regulated by the union government while games of chance are regulated by the states.

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GST evasion of Rs 1.51 lakh- crore detected till October; 71 notices to online gaming companies

Indian Express 06 Dec 2023

About Rs 1.51 lakh crore of tax evasion was detected by the Goods and Services Tax (GST) authorities till October in the financial year 2023-24, with Maharashtra, Haryana and Gujarat among the states with the highest amount of evasion, data shared by the Finance Ministry in Parliament showed.

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From the Tax Law Offices of David W. Klasing - Las Vegas Man Sentenced to ...

Victoria Advocate 05 Dec 2023

income tax on offshore income) self-reports the tax fraud (including a pattern of non-filed returns) through a domestic or offshore voluntary disclosure�before the IRS has started an audit or criminal tax investigation / prosecution, the taxpayer can ordinarily be successfully ...

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The Next Supreme Court Danger: Trashing One-Third of the Tax Code

The New Republic 04 Dec 2023

“If men were angels,” James Madison wrote in Federalist 51, “no government would be necessary.” Similarly, if men were angels, we wouldn’t have to tax unrealized capital gains ... Consequently, it’s necessary sometimes to tax their unrealized capital gains.

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Latam Insights: Colombian President Meets Blockchain Experts, Brazil Passes 15% Tax for Foreign Crypto Investments

Bitcoin 04 Dec 2023

the Colombian president met with a group of blockchain proponents, the Brazilian Senate passed a law taxing investments in foreign exchanges, and the Fintech Chamber proposed a tokenization framework in Argentina ... Law Taxing Cryptocurrency Purchases Made Using Foreign Exchanges.

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Brazil's Top Bank Enters Crypto Space with Bitcoin, Ether Trading Services

Finance Magnates 04 Dec 2023

Brazilian largest private bank, Itau Unibanco, has made its foray into the cryptocurrency space ... Brazil's Evolving Crypto Landscape. Brazil's financial landscape is poised for a significant transformation following the Senate's approval of legislation proposing a 15% income tax on offshore crypto gains exceeding $1,200 ... ....

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Madeira targets technology as a tool to build its economy

Cryptopolitan 03 Dec 2023

Additionally, eligible firms enjoy exemptions from capital gains tax. It’s crucial to note that Madeira positions itself as a regulated space, subject to thorough audits by both national tax authorities and the European Commission, dispelling notions of being an offshore haven.

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DoE welcomes Ph ranking in power sector investments list

The Manila Times 03 Dec 2023

"The market stands out as one of the few that have implemented auctions, feed-in tariffs, net-metering schemes, tax incentives, and a strong target for renewable energy," BloombergNEF said. "Moreover, the country's release of an offshore wind roadmap and having no foreign ...

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Heavy lifting will pay off for American offshore wind

The Hill 02 Dec 2023

The global offshore wind industry has been hit with what some are calling a “perfect storm” of economic challenges ... continues to build out the offshore wind energy we need — enough to provide clean, domestic power to millions of homes and good jobs to hundreds of thousands of workers ... Broad access to IRA tax credits for U.S.

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TIME TO DESIGNATE LABUAN AS FULL-FLEDGED OFFSHORE FINANCIAL CENTRE -- EXPERTS

Malaysian National News Agency 01 Dec 2023

... for Labuan Island to be designated as a full-fledged offshore financial centre and for clear policies for offshore enterprises to be established, aiming to attract international investors with tax incentives.