The U.S. Treasury Department and the Internal Revenue Service have released amended “disclosure and list-maintenance” regulations, as part of ongoing efforts to address so-called abusive tax avoidance transactions. Specifically, the … Read More
International Issues
Bahamas At Forefront of Regional Efforts In Anti-Money Laundering
In The Bahamas, as in the region, there is a determined effort to maintain the integrity of financial services industries. *”The Bahamas is serious about combating money laundering,”*says its Attorney … Read More
CFATF Meets In The Bahamas
This week The Bahamas is hosting a Plenary meeting of the Caribbean Financial Action Task Force (CFATF), at which Attorney General and Minister of Education the Hon. Alfred Sears will … Read More
Four Countries Removed From FATF’s NCCT List
The Financial Action Task Force has removed Dominica, the Marshall Islands, Niue and Russia from its NCCT list in light of the progress these countries have made in improving their … Read More
U.S. And Isle of Man Sign Information Exchange Agreement
Yesterday, Treasury Secretary Paul O’Neill signed a new agreement with the Isle of Man that will allow for exchange of information on tax matters between the United States and the … Read More
FATF Meets In Plenary Session
The Financial Action Task Force (FATF) is scheduled to meet in Plenary session on 9-11 October in Paris. The agenda includes: – anti-money laundering practices (including those related to the … Read More
ITIO Urges OECD To Follow Commonwealth Example
The International Tax and Investment Organisation (ITIO), a grouping of thirteen small and developing states, has welcomed Commonwealth Finance Ministers’ support for developing countries to participate more fully in international … Read More
IRS Regulation – Eroding Personal Privacy?
Today in Washington, the Vice Chairman of the House Ways and Means Committee, Phil Crane, called on the Internal Revenue Service (IRS) to withdraw a proposed regulation (REG-133254-02) that would … Read More
Designation of Al Qaida Operatives Identified by the German Authorities
The United States Treasury announced today that it is continuing to take “coordinated action” with the international community to identify and impose financial sanctions on those who form part of … Read More
Reports from IMF / World Bank Meetings
**International Financial Institutions Have Critical Role In Combating Terrorism Financing** In a speech today to the Annual Meeting of the International Monetary Fund and World Bank being held in Washington, … Read More