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fatca

August 14, 2014

Since the global financial crisis struck in 2008, offshore financial centres (OFCs) have come under sustained attack. As the world’s leading economies struggled to balance their books in the face of massive declines in tax revenue, the lowest fruit was seen to be hanging from the offshore tree.

Since the global financial crisis struck in 2008, offshore financial centres (OFCs) have come under sustained attack. As the world’s leading economies struggled to balance their books in the face of massive declines in tax revenue, the lowest fruit was seen to be hanging from the offshore tree. Estimates of the scale of offshore deposits vary wildly, from Boston Consulting Group’s $8.9 trillion (€6.5 trillion) to Tax Justice Network’s $21 trillion – but clearly it is a very enticing crop.

December 2, 2011

Family offices should already be taking steps to prepare for the introduction of the new US Foreign Account Tax Compliance Act, a leading tax lawyer has warned.

Family offices should already be taking steps to prepare for the introduction of the new US Foreign Account Tax Compliance Act, a leading tax lawyer has warned.

Tom Humphreys, from law firm Morrison & Forester, said family offices need to get in contact with their financial institutions and find out what they are required to provide and when.

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