FATCA in the Firing Line

FATCA in the Firing Line

September has been a bad month for FATCA. Earlier this month, Representative Mark Meadows (Republican, North Carolina) introduced Bill: H.R. 5935 in The House of Representatives. Evocatively labelled “to repeal the violation of sovereign nations’ laws and privacy...
The Impact of Failing to Report Correctly

The Impact of Failing to Report Correctly

In this episode, your host Ross McGill brings you an overview of developments in the global regulatory landscape. We look at the changes in the penalties issued by the IRS for failure to report, how globally standardised issuing of documentation can be beneficial to...
Tax Reporting Does ACTUALLY Matter

Tax Reporting Does ACTUALLY Matter

Regulation… regulation… sorry, what’s that? More regulation? You think that tax evaders get away with it? Or that your reports as a Foreign Financial Institution (FFI) are not monitored? Well, think again! FATCA and now CRS together with the...
Are You About To Lose Your ‘In Substance’ Benefits?

Are You About To Lose Your ‘In Substance’ Benefits?

Back in 2015 I pointed out to attendees at our training courses that there were strings attached to the status of ‘in substance’. I observed that the principle, if I were to take a purely commercial view of it, appeared to a face-saving measure for the IRS if there...
Beware The IDES of July

Beware The IDES of July

When the soothsayer in Shakespeare’s Julius Caesar uttered the immortal line “beware the ides of March”, warning the Emperor of his impending death, he was of course referring to the 15th day of March. This is ironic enough, given that March 15th is the US reporting...