US citizens who live and work abroad need more clarity from the IRS to prevent them from falling victim to harsh, costly reporting requirements for foreign trusts, taxpayers and advocates told IRS and Treasury Department officials Wednesday.
Many Americans overseas have foreign retirement plans the US regards as foreign trusts that have to file with the IRS. The foreign-trust rules are often unclear and hard to interpret, and the IRS needs to be clearer about when offshore retirement plans do and don’t need to be disclosed, witnesses told the officials at a public hearing.
Vanuatu’s government has announced a suspension of new applications for its Citizenship For Investment Program. Commonly known as Vanuatu’s Golden Passport, the scheme offers, citizenship
Following compromises and modifications to the original proposal, the Economic and Financial Affairs Council has adopted the ViDA initiative.The measures are expected to be adopted gradually from 2027
India and Mauritius have signed the protocol amending their Double Taxation Avoidance Agreement (DTAA), which now incorporates the Principal Purpose Test (PPT). This provision serves as a criterion
A recent ruling by a U.S. federal judge that found Google had illegally leveraged its dominance in the online advertising market is set to reverberate beyond American borders, placing new pressure on