10/01/2015
The law provides for a compliance window for declaring and paying penalty and a failure to meet the timeline will attract an additional penalty of 90 percent for a total tax liability of 120 percent on the quantum of black money stashed abroad.
09/30/2015
automatic sharing of information on bank accounts as well as financial products such as equities, mutual funds and insurance
09/30/2015
Government has clarified that all those declaring overseas assets during the black money compliance window will not face any penalty or prosecution under FEMA and four other laws.
09/28/2015
The OECD will release the final package of measures for a co-ordinated international approach to reform the international tax system under the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project on Monday 5 October 2015.
09/25/2015
Accidental Americans can include individuals like this future daughter-in-law who never thought of herself as American, as well as Green Card holders who let this authorization to live and work in the U.S. lapse.
09/25/2015
Thousands of Australians head offshore each year to expand their horizons and a lucky few will fund their adventure by working overseas.
09/25/2015
Traditionally, information about an individual or business has been sent from one tax authority to another on request
09/24/2015
A Senate hearing on Tuesday into the tax transparency amendment bill was told that the Australian Federal Police were never asked to assess the risk.
09/24/2015
In a recent speech, Odier noted that Switzerland has taken the necessary domestic legislative measures to conform with new international standards on tax compliance.
09/23/2015
The ATO is committed to ensuring that taxpayers are disclosing their offshore income
09/22/2015
Tax system is 'Swiss cheese' for the rich
AUSTRALIA'S tax system has been likened to a "giant Swiss cheese" full of holes through which the rich are able to funnel their income.
09/20/2015
Capital market regulator Sebi was so far focusing on trades during the fiscal years 2013-14 and 2014-15 in its fight against misuse of stock market platform for tax evasion and laundering of illicit funds.
09/18/2015
The changes aim to clarify when profits from residential property sales are taxable, as well as capturing more information about overseas buyers.
09/18/2015
These 1,000 companies will need to consider the new rules if they have economic activities in Australia, but book their Australian sales revenue offshore.
09/17/2015
Exclusive: company faces renewed questions over its fitness as security contractor at Australian detention centres on Manus Island and Nauru
09/17/2015
Australian Treasurer Joe Hockey: Australian companies can take greater advantage of Israel’s knowledge-based economy.
09/16/2015
MAS says equal tax treatment is needed for deal to facilitate cross-border selling of funds
09/14/2015
Hong Kong's 'accidental Americans' caught in US tax jam
US taxation of overseas wealth of non-citizens is becoming a growing concern for Asia's rich
09/13/2015
Govt makes Gold Monetisation schemes tax free
The rate of interest on the bonds will be calculated on the value of the gold at the time of investment.
09/11/2015
A meeting of sub-committee of the Financial Stability and Development Council today also discussed issues regarding inter-regulatory co-ordination for reporting under FATCA,