Tax & Regulation
North America | 25 Aug 17
US rapper faces 44 years in jail for $1.7m tax fraud case
US rapper DMX, facing 44 years jail for a massive tax fraud, has been ordered to check into a rehabilitation facility to seek treatment after violating bail conditions.
Tax & Regulation | 25 Aug 17
HMRC wins bulk of tax avoidance challenges but loses IHT case
HM Revenue & Customs claims that of the 26 litigation decisions in 2016/17 where tax avoidance was involved, 22 of them (86%) went in its favour.
Taiwan warns taxpayers to declare overseas income
Taiwan’s Ministry of Finance has called on taxpayers receiving overseas income to declare it voluntarily in order to avoid facing fines of up to three times the tax evaded.
Tax & Regulation | 24 Aug 17
Ten jurisdictions fall under beneficial ownership scrutiny
Australia, Qatar and Canada are among six jurisdictions rated largely compliant but still needing to make improvements in the latest wave of peer reviews by the OECD focusing on availability of beneficial ownership information.
Best Practice | 24 Aug 17
Aussie IFA body pushes for reform of ‘independent’ definition
The Australian Association of Independently Owned Financial Professionals (AIOFP) has stepped up efforts to amend the legal definition of “independent advice” through the publication of a white paper seeking to challenge the regulator’s views.