Obama proposes easier route to renouncing citizenship: President Obama’s budget proposals, published earlier this month, include a plan to help some dual-nationality American expatriates to renounce their US citizenship without the fear of delinquent tax filings, penalties, the US exit tax, and the other consequences of being a covered expatriate. It is still not known whether it will become law.
Obama proposes tax on unrepatriated corporate profits: President Obama’s budget proposal today will include a one-time 14 per cent levy on the unrepatriated overseas profits of US corporations, plus a 19 per cent minimum tax on future foreign profits. Some USD2 trillion of corporate profits is thought to have been accumulated in foreign jurisdictions to avoid US tax.

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05 MAR 2015          Monaco signs tax deal in return for removal from Italian blacklist ,

03 MAR 2015          Obama announces fiduciary rule for financial advisors,

02 MAR 2015          India’s general anti-avoidance rule shelved yet again,

26 FEB 2015            Italy and Switzerland sign treaty to prevent tax evasion,

24 FEB 2015            Chile’s public sector to report suspect financial transactions to tax authorities,

23 FEB 2015            Day-counting no longer the definitive test of Russian tax residence,

19 FEB 2015            Geneva police raid HSBC Suisse,

16 FEB 2015            HSBC publishes apology in London newspapers over Swiss Private Bank’s past practices,

12 FEB 2015            UK clients of HSBC Geneva were allowed to make ‘Liechtenstein disclosures’,

10 FEB 2015            LATAM client data from HSBC leak made public,

05 FEB 2015           Ireland tax amnesty open until 30 June 2015,

03 FEB 2015            US offshore disclosure opportunity to remain open indefinitely,