The IRS has announced a special voluntary disclosure initiative to return offshore money back into the U.S. tax system and help taxpayers with offshore accounts get compliant. The new initiative is called the 2011 Offshore Voluntary Disclosure Initiative (OVDI) and is similar to the 2009 Offshore Voluntary Disclosure Program (OVDP), the last such amnesty program for taxpayers with international accounts.
U.S. taxpayers are generally required to report their worldwide income on their tax returns, even if that income is not taxable. This is different from the rules in many other countries.
New measures to tackle money laundering, tax evasion and terrorist financing are likely to come into effect in early 2026. The Swiss Federal Council has adopted a series of measures to be submitted
European financial institutions will have to assess whether ESG risks could threaten their business models and risk profiles under draft rules tabled by the EU’s top banking regulator. The European
Singapore‘s latest update to its Money Laundering National Risk Assessment (MLNRA) brings to light significant risks and vulnerabilities within the nation’s financial landscape, particularly those
The Maltese government refuses to publish information on the unpaid tax dues of Binance, the cryptocurrency exchange company whose founder pled guilty to violating anti-money laundering rules in the