Entries by Manager

IRS seeks Bitcoin Accountholder Data from Largest US Bitcoin Exchanger

On November 17, 2016, the IRS and the US Department of Justice (the “DOJ”) opened a new front against offshore tax evasion – bitcoin accountholder data. On that day, the DOJ filed a petition (accompanied by the IRS memorandum) in the U.S. District Court for the Northern District of California seeking permission to serve a […]

EU Automatic Exchange of Banking and Beneficial Ownership Data Approved

On November 22, 2016, the European Parliament approved the automatic exchange of banking and beneficial ownership data across the European Union. The directive received an overwhelming support from the Parliament: 590 members voted “yes”, 32 – “no”, and 64 did not vote. Since the original proposal was already approved by the EU Council on November […]

Ukrainian FATCA Agreement Authorized for Signature

On November 9, 2016, the Ukrainian government authorized the Ukrainian FATCA Agreement for signature. Let’s explore this new development in more depth. Ukrainian FATCA Agreement and FATCA Background The Ukrainian FATCA Agreement is one of the many bilateral FATCA implementation agreements signed by the great majority of jurisdictions around the world. The Foreign Account Tax […]