Home » Posts taggedTax Evasion (Page 4)
Tax, Tax Reporting, UK European Union, Poland, Tax, Tax Planning

US: IRS targets Individuals who relocate to Puerto Rico

www.steptoe.com/en/news-publications/irs-targets-individuals-who-relocate-to-puerto-rico.htmlIRS Targets High-Income Individuals Illegally Claiming Puerto Rico’s Tax Benefits | Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P. – Attorneys at Law (meadowscollier.com) 0
Continue reading
Tax, Tax Amnesty, Tax Planning, US

US: Enforced Bank Closure in Puerto Rico prompts Tax Investigations of foreign Accountholders

news.bloomberglaw.com/banking-law/puerto-rico-shutters-bank-tied-to-tax-evasion-money-launderingwww.irs.gov/pub/irs-utl/j5-media-release-7-1-2022.pdfwww.rsmuk.com/ideas-and-insights/deregulation-of-euro-pacific-bank-and-uk-tax-evasionwww.mishcon.com/news/hmrc-issues-warning-to-taxpayers-following-euro-pacific-bank-probewww.ato.gov.au/Media-centre/Media-releases/Global-tax-chiefs-stand-by-Puerto-Rico-s-financial-institution-regulator-as-bank-is-shut-down/pinpoint.cch.com.au/news/csh-da-filter!WKAP_TAL_YINTTNEWS_REFERENCE/legauUio3524485sl1358577654/j5-supports-puerto-rico-regulator-s-decision-to-shut-down-euro-pacific-international-bankwww.rpc.co.uk/perspectives/tax-take/hmrc-investigating-hundreds-of-uk-customers-of-puerto-rico-based-euro-pacific-bank/#page=1What happened at Euro Pacific Bank? – Stewarts (stewartslaw.com)dwfgroup.com/en/news-and-insights/insights/2022/10/hmrc-and-the-downfall-of-euro-pacific-bank 0
Continue reading
Australia, Banking, Tax, UK, US

EU: Commission launches Consultation addressing Intermediaries who facilitate Tax Evasion

ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13488-Tax-evasion-aggressive-tax-planning-in-the-EU-tackling-the-role-of-enablers_enwww.europarl.europa.eu/committees/en/regulating-intermediaries-to-ensure-a-fa/product-details/20220331CHE10043taxadviserseurope.org/project/professional-judgment-in-tax-planning-an-ethics-quality-bar-for-all-tax-advisers/ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13488-Tax-evasion-aggressive-tax-planning-in-the-EU-tackling-the-role-of-enablers/public-consultation_entaxadviserseurope.org/project/opinion-statement-pac-1-2022-on-the-european-commission-public-consultation-on-the-proposed-directive-on-securing-the-activity-framework-of-enablers-safe-proposed-directive/www.icaew.com/insights/tax-news/2022/oct-2022/Tax-profession-calls-for-further-reflection-on-regulating-European-tax-intermediarieswww.step.org/sites/default/files/2022-10/STEP-consultation-response-to-European-Commissions-Tax-evasion-and-agressive-tax-planning-in-the-EU.pdf See also:bit.ly/3uDEhmS Update:taxadviserseurope.org/project/cfes-tax-top-5-6-february-2023/www.europarl.europa.eu/RegData/etudes/STUD/2022/733965/IPOL_STU(2022)733965_EN.pdf 0
Continue reading
European Union, Regulatory, Tax European Union, Luxembourg, Tax, Transparency

US: Court of Appeals Ruling affirms IRS Position that abusive microcaptive Insurance Transactions are Shams

www.irs.gov/newsroom/us-court-of-appeals-ruling-affirms-irs-position-that-abusive-microcaptive-insurance-transactions-are-shamswww.ca10.uscourts.gov/sites/ca10/files/opinions/010110683986.pdfwww.irs.gov/newsroom/irs-warns-taxpayers-of-dirty-dozen-tax-scams-for-2022www.irs.gov/newsroom/irs-wraps-up-2022-dirty-dozen-scams-list-agency-urges-taxpayers-to-watch-out-for-tax-avoidance-strategiesgtlawinfo.com/rv/ff009347213fed23823f79b27049a07662a43006www.huntoninsurancerecoveryblog.com/2022/07/articles/captive-insurance/irs-scrutinizes-legitimacy-of-captive-insurance-arrangement/#page=1 See also:www.steptoe.com/en/news-publications/gao-study-finds-irs-audit-and-investigations-of-micro-captive-insurance-deficient.htmlwww.womblebonddickinson.com/us/insights/articles-and-briefings/how-captive-insurers-can-raise-bad-faith-defense-irs-document Update:www.mayerbrown.com/en/perspectives-events/publications/2023/04/microcaptives-and-mega-headaches-the-us-irs-designates-microcaptive-insurers-as-listed-transactionswww.dentons.com/en/insights/articles/2023/june/1/irs-and-treasury-department-wave-white-flag-in-battle-over-the-apa-notice-and-comment-requirements 0
Continue reading
Insurance, Litigation, Regulatory, Tax, Tax Planning, US

UK: Defending personal Liability for Tax Avoidance Schemes as a Director

www.keystonelaw.com/keynotes/defending-personal-liability-for-tax-avoidance-schemes-as-a-directorwww.rpc.co.uk/perspectives/tax-take/directors-did-not-breach-fiduciary-duties-in-relation-to-insolvent-company/#page=1www.dacbeachcroft.com/en/articles/2022/july/directors-not-liable-for-breach-of-duty-for-using-tax-saving-scheme-where-professional-advice-followed-hunt-v-richard-balfour-lynn-and-others/English court considers directors’ “creditor duty” in context of failed tax avoidance scheme (taylorwessing.com) See also:www.osborneclarke.com/insights/tax-break-podcast-directors-accountability-tax#page=1www.rpc.co.uk/perspectives/tax-take/directors-not-liable-under-plns-as-hmrc-failed-to-establish-deliberate-conduct/#page=1 0
Continue reading
Tax, Tax Planning, UK

UK: High Court finds no Duty owed to Investors by Barrister advising Tax Scheme Promoter

www.rpc.co.uk/perspectives/professional-and-financial-risks/duties-of-care-to-third-parties-in-tax-avoidance-schemes/#page=1hsfnotes.com/tid/2022/03/08/high-court-finds-no-duty-owed-to-investors-by-barrister-advising-scheme-promoter/#page=1www.taylorwessing.com/en/insights-and-events/insights/2022/03/dqr-assumption-of-responsibility-tax-schemes-and-investorswww.frpadvisory.com/blog/defending-tax-professional-negligence-claims-what-insurers-need-to-know/www.dacbeachcroft.com/en/articles/2022/march/eminent-tax-barrister-defeats-claims-brought-by-scheme-investors/beale-law.com/article/sharing-is-caring-although-dont-expect-a-duty-of-care-to-always-arise-for-shared-professional-advice-mcclean-and-others-v-thornhill-qc-2022-ewhc-457/www.wilberforce.co.uk/be-careful-what-you-assume-professional-negligence-claims-against-tax-advisors-following-mclean-v-thornhill/hsfnotes.com/.well-known/captcha/?r=%2Finsurance%2F2023%2F04%2F28%2Fcourt-of-appeal-upholds-decision-that-no-duty-owed-to-investors-by-barrister-advising-scheme-promoter%2Fwww.traverssmith.com/knowledge/knowledge-container/court-of-appeal-upholds-decision-that-tax-silk-advising-investment-scheme-promoter-owed-no-duty-of-care-to-investors-mcclean-ors-v-andrew-thornhill-2023-ewca-civ-446/uklitigation.cooley.com/a-taxing-question-just-when-does-a-duty-of-care-arise/#page=1beale-law.com/article/you-shall-not-pass-gateway-to-tax-silks-advice-blocks-assumption-of-responsibility-claims-by-investors/Duties to third party investors in tax avoidance schemes following McClean | RPCCourt of Appeal guidance: when do professionals owe duties to third pa (cms-lawnow.com) See also:xxiv.co.uk/the-role-of-legal-professionals-as-gatekeepers-in-the-prevention-of-fraud-corruption-and-tax-evasion/ 0
Continue reading
Tax, Tax Planning, UK Regulatory, Tax, Tax Planning, US