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International Tax Law Archives

Six More FATCA Agreements Inked by U.S.

The United States has signed 6 more agreements with other nations and territories implementing the Foreign Account Tax Compliance Act. This act is meant to serve as a method to ensure that American taxpayers are not evading their taxes by placing their money in offshore accounts that ordinarily are outside the purview of the federal government. The six agreements signed were with Malta, the Netherlands, Bermuda, and the U.K. Crown Dependencies of Jersey, Guernsey, and the Isle of Man.

Japanese Government is at Odds With Itself Over Sales Tax Hike

It isn't just the United States that is in the constant midst of tax reform debates. Across the Pacific, the Land of the Rising Sun is going through an internal struggle/debate over whether to raise its sales tax amid a slowing economy with substantial national debt. Japanese Prime Minister Shinzo Abe wants to raise the national sales tax from 5% to 8% in April and then to 10% in October 2015.

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