India and the US recently signed a tax information sharing agreement that will facilitate exchange of information between the two countries, beginning October. Foreign Account Tax Compliance Act (Fatca) was enacted by the US government in 2010, as part of the Hiring Incentives to Restore Employment (HIRE) Act. Fatca requires all foreign financial institutions (FFI)…
The implementation of the US Foreign Account Tax Compliance Act (US Fatca) and the less well-known but equally applicable UK equivalent (UK Fatca) have been a topical and core focus for Cayman Islands’ regulators within the past 12 months. US and UK Facta directly apply to the vast majority of Cayman Islands-domiciled funds vehicles, notably…
If you are a US Citizen and are living in the UAE or are a US citizen living in the US and have accounts in the UAE, you should have filed FinCEN Form 114 also known as the FBAR if you have had AED (Emirati Dirham) 36732 or more which is approximately $10,000; filed Form…
Effective August 17, financial institutions in Jamaica will be required to transmit relevant financial information to Tax Administration Jamaica (TAJ) – the competent authority – on persons who reside permanently in the United States (US) or persons who earn a substantial amount of their income from or within the United States. Read the full article……
Managing personal financial issues is challenging for most people. For American expats, the normal complexities and expenses are compounded by a panoply of post-financial crisis legal requirements mostly relating to taxes and bank account reporting. Financial Adviser Jonathan Lachowitz of White Lighthouse Investment Management continues: Even more challenges arise as financial institutions at home and abroad…
