The framework would require intermediaries to identify their customers and their tax jurisdictions, and then report their aggregate transaction values annually.
March 28, 2022The data unearthed evidence that Credit Suisse accounts were used by clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.
February 21, 2022The automatic exchange of information by tax authorities in nearly 100 countries uncovered data on 84 million accounts held offshore in 2019.
July 2, 2020Westpac has identified an estimated 60,000 to 90,000 threshold transaction reports that were not reported to AUSTRAC, and potential problems with its FATCA and CRS compliance.
May 5, 2020The Tax Justice Network has released its 2020 rankings of jurisdictions according to their secrecy and the scale of their offshore financial activities.
March 2, 2020Of the 1.89 million offshore accounts identified through information exchanges under the Common Reporting Standard, 80% were located in Asia and Oceania.
December 18, 2019BSP governor Benjamin Diokno has said the central bank wants to help convince lawmakers of the importance of lifting bank secrecy as part of a bill to grant amnesty to errant taxpayers.
October 15, 2019Reports indicate there is considerable support to raise the maximum fine for tax evasion from NT$60,000 to NT$100mn.
September 24, 2019As tax reporting requirements grow increasingly complex, automation is making compliance cheaper, quicker and more efficient, says a new report from Regulation Asia and BearingPoint.
May 6, 2019In the year ahead, banks will have to focus on seamless data integration and regtech adoption to cope with increasingly complex regulatory reporting requirements, says Wolters Kluwer’s Wouter Delbaere.
January 9, 2019