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.
HMRC has intensified investigations into inheritance tax evasion, launching 2,029 inquiries between April and November 2023. The frozen inheritance tax threshold and rising property prices have led
1. Today, the Government of Japan and the Government of the Hellenic Republic signed the “Convention between Japan and the Hellenic Republic for the Elimination of Double Taxation with respect to
Cyprus has yet to enforce the new EU rules introducing a minimum effective tax rate of 15% for multinational corporations operating within EU member-states. Alongside nine other countries, Cyprus was
India and Singapore are set to enhance their collaboration in the realm of green finance, according to statements made by NITI Aayog Vice Chairman, Suman Bery. Expressing optimism about the future of