The Government of Canada has committed to crack down on tax evasion and tax avoidance. Most middle class Canadians pay their fair share of taxes, but some wealthy individuals avoid taxes by hiding their money in offshore tax havens. This is not fair and it needs to change. These wealthy Canadians should not be able to buy their way out of paying the income tax that they owe.
The international community should call time on those territories that have yet to implement internationally agreed tax transparency standards, the OECD Secretary-General, Angel Gurría, said in a new report to the G20.
Brazil’s Foreign Trade Chamber (CAMEX) has announced that the ten percent import duty on wheat will be eliminated until August 15, 2014, and duties will be cut for capital goods and electronic goods.
The United Arab Emirates (UAE) has entered into an Intergovernmental Agreement (IGA) in substance to implement the United States’ Foreign Account Tax Compliance Act (FATCA), reports Tax News.
The Swiss Federal Council has decided to bring the Foreign Account Tax Compliance Act (FATCA) Act, together with the ordinance on disclosure obligations, into force on June 30, 2014, to ease Swiss financial institutions’ implementation of the new disclosure rules, reports Tax News.
Costa Rican Minister of Finance Helio Fallas announced a number of new tax measures to be implemented this year and in 2015 to tackle the country’s deficit. Read more
Singapore has reached a tax information-sharing agreement with the United States under a new law meant to combat offshore tax dodging by Americans.