HAVANA – Tax evasion and smuggling have forced the government of Cuba to stop issuing new licenses for some businesses. The government of Cuba is ceasing the issuance of business licenses until the problems associated with self-employment have been perfected. Previously, Cubans who wanted to strike out and be self-employed… – Continue reading
Overview If you have been reading my articles on JD Supra for a while, you will know that I love Afro-Cuban and Brazilian music. Nevertheless, the Hall and Oates song Private Eyes, is a more fitting song to describe the state of offshore planning in Tax Havens than “Oye Como… – Continue reading
President Barack Obama is heading to Cuba next week. When Air Force One lands on that island nation on March 20, Obama will become the first U.S. commander in chief to visit Cuba in 88 years. In advance of that historic visit, which the administration hopes will eventually lead to… – Continue reading
Algiers — President of the Republic Abdelaziz Bouteflika signed presidential decrees on the ratification of many cooperation agreements between Algeria and other States and international organizations, in accordance with Article 77-11 of the Constitution, said Sunday the Presidency of the Republic in a statement. One of the decrees concerns the… – Continue reading
The Protocol amending the Multilateral Convention on Mutual Administrative Assistance in Tax Matters will lead to substantially more transnational identity theft, crime, industrial espionage, financial fraud, and the suppression of political opponents and religious or ethnic minorities by authoritarian and corrupt governments. It puts Americans’ private financial information at risk…. – Continue reading
The clock is ticking for American tax dodgers around the world after BNP Paribas SA’s Swiss unit and two other banks joined a U.S. program to avoid prosecution, revealing the exact methods of Swiss bankers’ legendary discretion. BNP agreed to pay $59.8 million in a program that has brought in… – Continue reading
In his seminal 1987 work Crisis and Leviathan, economic historian Robert Higgs traces the pattern of government growth as a response to catastrophic events. The federal government, in particular, grows over time through a “ratcheting up” effect, as politicians respond to disasters and catastrophes with calls to “do something,” often… – Continue reading
Colombia and Panama have given each other another 60 days to come to agreement on how to combat Colombian tax evasion through Panamanian banks. The two countries failed to meet the negotiation deadline set for the exchange of tax information after one year, extending a further 60 days, in a… – Continue reading
The world can end the AIDS epidemic by 2030, the United Nations said on Tuesday, highlighting global success in rolling out life-saving drugs over the last 15 years. The UN Millennium Development Goal to halt and reverse the spread of the disease has been achieved, said UNAIDS, the global body’s… – Continue reading
THE THAWING OF RELATIONS between the United States (US) and Cuba will open up the opportunity for Barbados to “serve as an intermediary for investment into Cuba”. But two prominent American lawyers, including one who advises Government, have warned that the “on paper” advantage Barbados has under its double taxation… – Continue reading
In This Issue: • It’s Stifling in Here! SEC Rules That Companies Can’t Put Restrictive Language in Confidentiality Agreements That Could Potentially Stifle Whistleblowers • An Opinion on Opinions: U.S. Supreme Court Decision in Omnicare • Is OFAC the New Black? Schlumberger and PayPal—The Rise in the Enforcement of Sanctions… – Continue reading
ABU DHABI: The UAE Cabinet on Sunday endorsed hosting the headquarters of the joint Police Force of the Gulf Co-operation Council (GCC) in Abu Dhabi. By hosting the GCC Police Force, the UAE aims to foster its relations with the other Gulf countries to safeguard the region from any form… – Continue reading
ABU DHABI: The UAE Cabinet has on Sunday endorsed hosting the headquarters of the joint Police Force of the Gulf Co-operation Council (GCC) in Abu Dhabi. By hosting the GCC Police Force, the UAE aims to foster its relations with the other Gulf countries to safeguard the region from any… – Continue reading
Private Sector Key KUWAIT CITY, Feb 11: The Parliament on Wednesday approved the development plan for fiscals 2015/2016 to 2019/2020 in its first and second readings with 33 votes in favor, four against and one abstention. It also approved the 20th report of the Finance and Economic Affairs Committee on… – Continue reading
NEWS: Spain’s Foreign Minister said “it was fine” for Fabian Picardo to speak in Madrid: “as long as no one forces me to listen”. The Chief Minister was introduced by the British Ambassador. In a breakfast speech in central Madrid to a room filled with some 250 politicians, businessmen, diplomats… – Continue reading
The existence of 1MDB’s RM7 billion in the Cayman Islands and its return to Malaysia must be verified. KUALA LUMPUR: Pandan MP Rafizi Ramli urged Bank Negara Governor Zeti Akhtar Aziz, in a statement on Wednesday, to invoke the Anti Money Laundering Act and ensure that a reported RM7 billion… – Continue reading
For centuries the inner workings of the Vatican Bank have been cloaked in secrecy. That was before Pope Francis, who has pledged to restore public confidence in the administration of the Roman Catholic Church. This week we learned the United States and the Holy See have brokered a FATCA agreement… – Continue reading
Colombia’s minister of finance stated this weekend that Colombians are hiding $50 billion abroad in an attempt to avoid paying taxes over their assets. Finance Minister Mauricio Cardenas told Spanish news agency EFE that no penalties for Colombia tax evaders had been finalized, but that they were on the agenda…. – Continue reading
The Cayman Islands, an important international business competitor for Bermuda, is expressing “consternation” that they have been included on a new list of high risk jurisdictions for financial crime. There are a total of 95 countries listed including Brazil, Afghanistan, Cuba, Russia, China, Iraq, the Republic of Congo and Jamaica…. – Continue reading
