December 10, 2015 - What is America’s real objective with FATCA?
It is designed to go after ‘United States persons’ who are evading US taxes through the use of offshore accounts and other offshore assets. FATCA became effective in Jamaica on July 1, 2014. It requires US persons, residing anywhere in the world, to comply with the requisite annual reporting of their non-US financial accounts to the Financial Crimes Enforcement Network (FinCEN).
November 19, 2015 - Crackdown on Caribbean tax havens a surprise boon for Hong Kong
Helped by a forecast five-year 72 per cent explosion in Greater China demand for such services, by the end of the decade Hong Kong will be the world’s largest offshore market, OIL analysts predict, overtaking the British Virgin Islands, Cayman Islands, and Singapore.
October 6, 2015 - Report IDs world's top tax havens
Bermuda, the Cayman Islands and the British Virgin Islands are more than just sunny vacation spots
September 29, 2015 - IRS Targets Secret Offshore Bank Accounts
A federal court in Miami has issued summonses against Belize Bank International and Belize Bank aiming to identify accounts controlled by US taxpayers from 2006 until 2014. - See more at: http://www.iexpats.com/irs-targets-secret-offshore-bank-accounts/#sthash.yulB1mEX.dpuf
September 21, 2015 - U.S. Targets Tax Evaders Using Belize Accounts
This week, Judge Ursula Ungaro of the U.S. District Court for the Southern District of Florida in Miami authorized the Internal Revenue Service to serve “John Doe” summonses on Bank of America NA and Citibank NA, seeking information about U.S. taxpayers with accounts at Belize Bank International Ltd., Belize Bank Ltd. or Belize Corporate Services.
Septebmer 21, 2015 - Hunt for Tax Cheats Leads U.S. Government to Banks in Belize
On Wednesday, a federal judge in Miami authorized the IRS to serve a so-called “John Doe” summons on two U.S. banks for correspondent account information related to Belize Bank International Ltd. and Belize Bank Ltd., both subsidiaries of BCB Holdings Ltd. Such summons are used by the IRS to get information about possible tax evasion when they don’t know the identities of the taxpayers, but suspect a group of Americans may be using such accounts to dodge taxes.
August 20, 2015 - The role of offshore jurisdictions in Russia
International finance centers play a significant role in Russian foreign direct investment (FDI). For example, in 2012 it was observed that 11 of the 40 main recipients of Russian FDI were IFCs. Of these finance centers, the largest recipients were the BVI, the Cayman Islands and Cyprus.
March 3, 2015 - Deadline Dates for Automatic Exchange of Tax Information under FATCA and CRS
The Cayman Islands government, along with around 50 other countries, has also committed to the implementation of the OECD Standard for Automatic Exchange of Financial Account Information – Common Reporting Standard (the "CRS") by the end of 2015.
November 24, 2014 - Barbados and US sign FATCA agreement
THE GOVERNMENT of Barbados is committed to the implementation of global standards for the supervision and regulation of the international business and financial services sector.
November 17, 2014 - Dossier names banker who 'hid TDs' accounts'
A former key figure at Guinness & Mahon Bank could hold the key to establishing whether or not senior politicians held previously unknown Ansbacher accounts, a whistleblower has claimed.
October 16, 2014 - Cayman drops 11 places in financial center rankings
The Cayman Islands dropped 11 places to rank 54th out of 83 financial centers in the latest Global Financial Centres Index. Cayman scored 23 points lower than in the previous ranking.
September 8, 2014 - Caribbean-Based Investment Advisor Sentenced for Using Offshore Accounts to Launder and Conceal Funds
an investment advisor, was sentenced today to serve 30 months in prison for conspiring to launder monetary instruments, the Justice Department and Internal Revenue Service (IRS) announced.
August 21, 2014 - Offshore incorporations up in Cayman and worldwide
Despite the political and media pressure on offshore financial centers, new incorporations of offshore companies worldwide continue to grow.
July 16, 2014 -- BVI Government Signs Model 1B IGA In Relation To FATCA
The BVI Government has signed a Model 1B (non-reciprocal) Intergovernmental Agreement (IGA) in relation to the US Foreign Account Tax Compliance Act (FATCA), it was announced on 30 June 2014. The IGA can be accessed here.
July 15, 2014 - Cayman Islands: The Legislative Process In The Cayman Islands
The Cayman Islands' position as a top international financial centre is facilitated not only by its income tax-free status, but also by the Islands' history of political and economic stability, responsible and practical levels of regulation, and a highly competent workforce of professionals, judiciary and legislators.