- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Swiss Offshore Tax Evasion Enabler Pleads Guilty

Josef Dörig, 72, of Switzerland, pleaded guilty today to conspiring to defraud the Internal Revenue Service in connection with his work as the owner of a trust company in Switzerland.

Italy Consults On FATCA Agreement With US

Failure by an FFI to disclose information on their US clients, including account ownership, balances and amounts moving in and out of the accounts, will result in a requirement to withhold 30 percent tax on payments of US-sourced income.

HMRC blunder leaves VCT investors in limbo

The wording in the rules falsely indicates that established VCTs could lose their tax-efficient status if they pay dividends to investors who bought shares in the new tax year starting April 6th.

Bulgaria, Romania to update double taxation agreement

Bulgaria’s Cabinet has approved a draft proposal to update the memorandum on avoiding double taxation with Romania

Emerging Markets: non-EU investment funds eligible for withholding tax refund

US investment fund applied for a refund of withholding tax paid on dividends derived from Polish companies

HMRC to sell taxpayers' financial data

The personal financial data of millions of taxpayers could be sold to private firms under laws being drawn up by HM Revenue & Customs in a move branded "dangerous" by tax professionals and "borderline insane" by a senior Conservati

KPMG in Holland again under investigation, this time for tax fraud

Accountancy company KPMG is again under formal investigation by the authorities, this time for suspected tax fraud involving the construction of its new Amstelveen headquarters.

Taxman nets €1bn in offshore bank accounts investigation

The significant milestone was reached in recent weeks, the Revenue Commissioners has revealed.

One of the most destructive taxes of the past 40 years could soon be axed

It seems that Danny Alexander, the boyish Lib Dem chief secretary to the Treasury, has finally come of age.

Nucleus and Cofunds tackle adviser charging tax penalties

Clients have a 5% tax free allowance from onshore and offshore investment bonds. However adviser charging payments from the bonds would be seen as a withdrawal and impact upon the allowance.

Banks In Germany Could Face Anti-Tax Evasion Sanctions

BaFin is currently only authorized to launch criminal proceedings against bank employees for their role in aiding and abetting tax evasion.

Berlin and Paris ‘ruled Irish taxpayer should bail banks’

Germany and France thought they could tame the markets

Companies turn away from tax avoidance plans

The Taxman suspects Britain’s biggest companies of underpaying taxes to the tune of £18.8bn in the last year

What's to be expected in the new SORP by Nick Sladden Head of Charities and Social Enterprises, Baker Tilly

Charities will be able to choose which SORP they apply depending on which accounting standard they use. This will facilitate implementation of the new FRSSE framework which is expected shortly.

Convention between Denmark and Ghana on Double Taxation

The Government of the Kingdom of Denmark and the Government of the Republic of Ghana have signed the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital Gains

Non-UK residents, residential property and capital gains tax - Farrer & Co

Historically, non-residents have not been subject to capital gains tax (CGT) unless carrying on a business in the UK through a branch or agency.

Germany probes possible banks, funds tax evasion

A legal loophole made this possible until 2012.

Tax evaders face court action in crime blitz

This is a purely civil procedure, and can be carried out without the tax evader being publicly named.

SCOTS who hide their money offshore face court action in crime blitz

These documents were the first stage in opening cross-jurisdictional tax-evasion investigations.

The desperate tactics being used to avoid inheritance tax

With the inheritance tax threshold frozen, families are resorting to more desperate measures to avoid death duty