/Tag:IRS

Google Keeps EU 10 Billion in Bermuda

Google tax strategies and accountancy practices are widely discussed topics not only in media, but also on a governmental level. News website shave recently disclosed information that, every year, Google sends profits of about EU 10 billion to the Bermuda Island, one of the world’s tax havens offering a 0% corporate tax rate. However, the only [...]

Luxembourg Announces Tax Amnesty Plan

Luxembourg has recently announced its first tax amnesty plan for undeclared income. The temporary tax amnesty scheme for 2016-2017 aims at “laundering” tax evaders and regulating “assets and income held by persons with tax residence in Luxembourg.” According to the current Luxembourg legislation, sanctions for a willful tax fraud and evasion include (i) a fine of [...]

The US-Cayman FATCA Agreement

The cooperation in tax matters between the US and Cayman Islands began in 2014, when the agreement regarding automatic exchange of tax information under US Foreign Account Tax Compliance Act (FATCA) between Cayman Islands and the US entered into force. FATCA is a U.S. legislative act which aims at preventing US citizens living abroad from committing [...]

South Dakota: tax haven on the prairie

The U.S. is one of the world’s leading tax havens for high-net-worth individuals and businesses that are seeking to shelter their assets from taxes. The U.S. states of Alaska, Delaware, and Nevada are known for their tax-efficient legislations and well-developed trust laws. Since U.S. trusts are governed by state laws and not by federal laws, the [...]

The US provides tax benefits for hiring your own children

In the US, the Internal Revenue Service (IRS) offers tax incentives for self-employed individuals who would like to hire their own children. Such initiatives aim at supporting small family businesses and assisting families in teaching children about good work ethic and value of money.   The salary paid by parents to an employed child under 18 [...]

FREE EBOOK

How to Make Yourself Invisible to The Tax Inspector

For anyone who cares about fiscal and financial privacy.
DOWNLOAD NOW