offshore banking News

Australian High Court Allows Use Of Leaked Data In Tax Probes
by Mary Swire, Tax-News.com, Hong Kong
Thursday, August 22, 2019
The Australian Taxation Office has welcomed a significant ruling from Australia's High Court, which enables the tax agency to use information obtained from data leaks, even if leaked from a law firm. Read Full Story

Seychelles Brings Tax Perks Into Line With Int'l Standards
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, February 5, 2019
The Seychelles says that the OECD has found the territory to have made sufficient reforms to comply with its BEPS Action 5 standard on harmful tax regimes. Read Full Story

IRS To End Offshore Voluntary Disclosure Program
by Mike Godfrey, Tax-News.com, Washington
Wednesday, March 14, 2018
The Internal Revenue Service has announced plans to close the 2014 Offshore Voluntary Disclosure Program (OVDP) from September 28, 2018. Read Full Story

HMRC Details 2017 Prosecutions For Tax Crimes
by Jason Gorringe, Tax-News.com, London
Wednesday, January 3, 2018
HM Revenue and Customs, the UK's tax authority, has revealed details of its enforcement activities during 2017, including a round-up of the "top ten" cases it pursued. Read Full Story

Labuan Urged To Adapt To BEPS By Removing Harmful Tax Offerings
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, November 8, 2017
Muhammad bin Ibrahim, the Governor of the Central Bank of Malaysia, has stressed the need for Labuan to review its international tax framework in light of the OECD's work on Action 5 of the base erosion and profit shifting project, on harmful tax practices. Read Full Story

Ireland Extends Deadline For Disclosure Scheme
by Jason Gorringe, Tax-news.com, London
Friday, April 28, 2017
The Irish Revenue has extended the deadline for qualifying offshore disclosures until May 4, ahead of a major change to the voluntary disclosure rules. Read Full Story

India, Seychelles To Exchange Tax Information
by Mary Swire, Tax-News.com, Hong Kong
Friday, September 16, 2016
The tax information exchange agreement between India and Seychelles has entered into force, the Indian tax agency has said. Read Full Story

South Korea Sees Surge In Offshore Disclosures
by Mary Swire, Tax-News.com, Hong Kong
Thursday, September 15, 2016
There was a substantial increase in disclosures by South Korean taxpayers about their overseas financial assets during the first six months of the year, South Korea's tax agency has said. Read Full Story

Five States Agree To Adopt New Tax Transparency Standard
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, May 18, 2016
Bahrain, Lebanon, Nauru, Panama, and Vanuatu - five territories that were earlier criticized for not following tax transparency standards – have newly committed to sharing financial account information automatically with other countries. Read Full Story

NZ Inquiry Launched On Foreign Trust Disclosure Rules
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, May 3, 2016
New Zealand's Minister of Finance, Simon English, and the Minister of Revenue, Michael Woodhouse, has established a government inquiry into Foreign Trust Disclosure Rules. Read Full Story
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