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Bermuda Signs MLAT With The US
4/23/2012 Bermuda's Prime Minister Paula Cox has noted the recent conclusion of a new
Mutual Legal Assistance Treaty with the United States, which will significantly
boost cooperation between the nations, and aid the countries in more effectively
tackling financial crime.
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OECD Issues New Peer Reviews
4/5/2012 The Organization for Economic Cooperation and Development, publishing eleven new peer reviews, has said that the vast majority of territories which have been subject to critical assessments have implemented satisfactory legislative regimes that can facilitate the exchange of information on request.
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Jamaica To Launch Tax Information Exchange Office
3/16/2012 The Jamaican government has announced that it will soon launch an Exchange of
Information Office to ensure the territory deals with tax information requests efficiently and in a timely manner, and also to bolster the nation's own tax enforcement efforts against non-compliant domestic taxpayers.
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Switzerland Confirms Financial Centre Strategy
2/27/2012 The Swiss Federal Council has recently held talks on a 'credible' financial centre strategy designed to deflect international criticism over issues such as tax and banking secrecy.
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Greece Signs Up To Multilateral Tax Convention
2/23/2012 Greece has become the latest signatory to the Convention on Mutual Administration
Assistance in Tax Matters, which promotes international cooperation in the assessment
and collection of taxes through multinational information exchange.
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Grenada To Ensure Adherence To Tax Standards
2/16/2012 The government of Grenada has established a high-level committee of public and
private sector individuals to aid the government in overhauling legislation regulating the territory's financial services sector to ensure adherence to international standards.
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Swiss State Council Backs US Tax Deal Amendment
12/16/2011 After having dragged its heels, Switzerland’s State Council finally voted
in favour recently of plans to provide mutual assistance to the US authorities
in cases of alleged tax evasion involving group requests, based on patterns
of behaviour in the absence of specific account details.
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G20 Agrees New Tax Information Exchange Convention
11/7/2011 The Organisation for Economic and Cooperation Development has announced that G20
governments have agreed to a new multilateral Convention to enable developing
countries to tackle tax evasion more effectively.
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Belarus Accused Of Abusing Legal Treaty In Tax Probe
8/10/2011 The Lithuanian government has criticized an alleged abuse of the Multilateral
Legal Assistance Treaty by Belarus, after it emerged that
Belarusian officials had used the agreement to gain confidential data specifically
on human rights protestors, including prominent campaigner, Ales Byalyatski,
now charged with tax evasion.
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EC Outlines Terrorist Finance Tracking System
7/19/2011 Responding to a call from the European Parliament and the European Council,
the European Commission has adopted a Communication outlining the main options
for establishing a European Terrorist Finance Tracking System.
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Korea Boosts Links With Pacific Islands
6/7/2011 A number of tax information exchange agreements were due signed at the
first Korea-Pacific Islands Foreign Ministers' Meeting, held recently in the Korean capital
Seoul, where ministers met to discuss enhancing cooperation in various
spheres.
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Azerbaijan, Lithuania Sign Tax Agreement
5/31/2011 Lithuanian and Azerbaijani ministers have signed an Agreement on Technical Cooperation between their respective tax administrations, designed to aid the fight against tax evasion.
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EU-US Data-Sharing Deal Raises Concerns
3/22/2011 Debating a watchdog report on the first six months of a joint data-sharing deal,
MEPs on the European Parliament’s Civil Liberties Committee are concerned
that requests from the United States for European Union citizens' banking
data are too general and abstract.
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IoM, Poland Sign Tax Agreements
3/9/2011 The Isle of Man government has announced the signing of three tax agreements, including a Tax Information Exchange Agreement and two double tax agreements, with Poland.
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Guernsey Enhances Tax Cooperation With South Africa
2/25/2011 The South African government has concluded its first tax information exchange agreement, with Guernsey on February 21, 2011.
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Barbados Commits To Information Exchange
2/7/2011 The Prime Minister of Barbados, Freundel Stuart, has announced that in order to
fully implement Barbados’s national policy on transparency and demonstrate
its commitment to the G-20 endorsed standard on the exchange of information
for tax purposes, the Government will amend the Barbados Income Tax Act.
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Ireland Welcomes OECD Tax Report
2/2/2011 The government of Ireland has welcomed the findings of a report by the Organization of Economic Cooperation and Development on the issue of international tax transparency.
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IRS Visits South Korea To Talk Tax Cooperation
1/27/2011 Victor Song, the chief of the United States Internal Revenue Service Criminal Investigation, has visited South Korea in order to improve cooperation
between the two countries and combat international tax evasion and money laundering.
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Guernsey Signs Multilateral Insurance MoU
11/18/2010 The Guernsey Financial Services Commission has announced that it has become a
signatory to the Multilateral Memorandum of Understanding of the International
Association of Insurance Supervisors.
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US Withdraws UBS Lawsuit
11/17/2010 Following the last substantial delivery of administrative assistance cases by Switzerland, the US tax authority, the Internal Revenue Service, has fully and definitively withdrawn the John Doe Summons served on Swiss bank UBS, the Swiss Federal Department of Finance has announced.
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Switzerland And Germany Strike Tax Deal
10/29/2010 The Swiss and German finance ministers have agreed to start negotiations towards an agreement that will allow Germany to tax assets held by its residents in Swiss accounts, while Switzerland gets to retain some measure of banking secrecy.
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UK And Switzerland Sign Tax Declaration
10/27/2010 Swiss Finance Minister Hans-Rudolf Merz (pictured) and UK Chancellor of the Exchequer, George Osborne have agreed to begin negotiations towards an agreement that will see undeclared accounts held by Britons in Switzerland taxed and more information with regards tax and banking information shared between the two states.
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USA To Dismiss Charges Against UBS
10/27/2010 US prosecutors are seeking to dismiss criminal charges against UBS after the Swiss bank fulfilled its obligations under a deferred prosecution agreement struck last year.
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Switzerland, Italy Hold Tax Talks
9/23/2010 Key members of the Swiss and Italian governments have met to discuss a range of economic topics, with the talks focusing on outstanding bilateral
tax issues.
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Swiss-German Tax Row Nears Resolution
9/9/2010 During a recent economics conference held in Basel, Germany’s Finance Minister
Wolfgang Schäuble revealed that ongoing negotiations between Germany and
Switzerland regarding a bilateral tax agreement would be completed by the end
of October.
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Cayman Concludes Banking Pact With US
8/25/2010 The Cayman Islands Monetary Authority has announced that it has formalized
procedures with the four main United States banking regulators for the exchange
of supervisory information relating to banks and banking institutions that operate
in both territories.
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Dubai, Portugal Sign Regulatory Agreement
8/11/2010 The Dubai Financial Services Authority has announced the recent conclusion
of a cooperation agreement with the Portuguese banking supervisor, Banco de Portugal.
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Portugal, St Kitts And Nevis Sign TIEA
8/6/2010 The Portuguese government has announced the signing of a Tax Information Exchange
Agreement with the Caribbean territory of Saint Kitts and Nevis.
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Liechtenstein Adopts Financial Market Law
7/16/2010 During a recent meeting, Liechtenstein’s government approved the consultation
report pertaining to the amendment of the financial market regulatory law.
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US Can Access EU Bank Transfer Data
7/14/2010 After the addition of certain safeguards, but still against some opposition, the
European Parliament has approved the European Union-United States Terrorist
Finance Tracking Programme Agreement.
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BVI, US Banking Regulators Sign Landmark Arrangement
7/9/2010 The Financial Services Commission
of the British Virgin Islands and banking regulators in the United States have entered into an arrangement to share supervisory information to enhance the regulatory oversight of the industry.
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OECD And Council Of Europe Strengthen Tax Cooperation
6/1/2010 The Organisation for Economic Cooperation and Development and the Council of Europe have developed a Protocol amending the multilateral Convention on Mutual Administrative Assistance in Tax Matters to bring it in line with the international standard on exchange of information for tax purposes.
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Ecofin Adopts Mutual Assistance Law
3/18/2010 The European Council of Finance Ministers has adopted a Directive aimed at better clamping down on tax evasion by strengthening mutual assistance between member states in the recovery of taxes.
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