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Common Reporting Standards (CRS): An overview and global update, Zac Lucas
 
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Financial Transparency is the new global standard. The OECD Common Reporting Standard (CRS) expands the scope of cross board financial account disclosure originally introduced by the US Foreign Account Tax Compliance Act (FATCA). Malaysia is a fully committed member of the CRS Multilateral Competent Authority Agreement, with 60 exchange relationship where the Malaysia IRBM will send financial data to foreign tax authorities, and 84 exchange relationship where the IRBM will receive financial data on accounts held by Malaysians in countries such as Singapore, Australia, China, Hong Kong, New Zealand, Switzerland and UK. In order to counter attempts to circumvent and avoid the CRS, the OECD published on the 9th March 2018 the Mandatory Disclosure Rules (MDRs). The MDRs provide the basis on which CRS Avoidance Arrangements are required to be Disclosed and later exchanged with relevant foreign tax authorities. The purpose of the talk is to discuss and explore the above initiatives and in particular the provisions of the Mandatory Disclosure Rules, ending with a brief update on the status and developments surrounding the US FATCA
Views: 267 Labuan IBFC
Pakistan sign BEPS Agreement 7th June 2017
 
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Embassy of Pakistan Paris Press Section PRESS RELEASE Pakistan Signs OECD’s Base Erosion and Profit Shifting (BEPS) Agreement and Multilateral Competent Authority Agreement for Automatic Exchange of Information Paris, June 7, 2017. On behalf of the Government of Pakistan, Ambassador Moin ul Haq signed Organization for Economic Cooperation and Development (OECD’s) for the Multilateral Convention to Implement Tax Treaty Related measures to Prevent Base Erosion and Profit (BEPS) at OECD headquarter, Paris, today. Around 70 countries simultaneously signed this Convention today in the OECD Centre in the presence of Secretary General OECD Mr. Angel Gurria. Speaking after the ceremony, the Ambassador said that Pakistan now will be part of global efforts to develop solutions to close the gaps in tax treaties that allow corporate profits to be artificially shifted to low or no tax jurisdictions. Besides, Pakistan will also receive consistent support and guidelines from OECD to implement BEPS’s standards to counter harmful tax practices and tax treaty abuses. Mr. Moin ul Haque added that the signing of the Multilateral Instrument is yet another step of the incumbent to adopt international best practices in the field of tax matters and to join the multilateral fight against tax evasion through continuous and mutual exchange of information. While counting the steps taken by the government to infuse financial transparency in Pakistan, the Ambassador said that Pakistan has already joined ‘Open Government partnership’ (OPG) in December, 2016, and as well as signed OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters in September, 2016. Pakistan has also lately signed revised Agreement on Avoidance of Double Taxation with Switzerland in March, 2017. These steps, he said, were reflective of the government’s firm commitment to a transparent and accountable governance structure in the country. Earlier, Pakistan signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Accounts (MCAA). The MCAA was signed by Mr. Mohammad Iqbal, chief (International Taxes), FBR. The signing was overseen by the Ambassador and Deputy Secretary General, OECD. The signing ceremony was attended by senior OECD officials of Global Forum on Transparency and Exchange of information for Tax purpose. Qamar Bashir Counsellor (Press) Embassy of Pakistan, Paris 0770123323(mobile) 01 45 61 48 98 (office) 01 45 61 10 17 (fax)
Views: 54 Qamar Bashir
Pakistan sign BEPS Agreement 7th June 2017
 
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Embassy of Pakistan Paris Press Section PRESS RELEASE Pakistan Signs OECD’s Base Erosion and Profit Shifting (BEPS) Agreement and Multilateral Competent Authority Agreement for Automatic Exchange of Information Paris, June 7, 2017. On behalf of the Government of Pakistan, Ambassador Moin ul Haq signed Organization for Economic Cooperation and Development (OECD’s) for the Multilateral Convention to Implement Tax Treaty Related measures to Prevent Base Erosion and Profit (BEPS) at OECD headquarter, Paris, today. Around 70 countries simultaneously signed this Convention today in the OECD Centre in the presence of Secretary General OECD Mr. Angel Gurria. Speaking after the ceremony, the Ambassador said that Pakistan now will be part of global efforts to develop solutions to close the gaps in tax treaties that allow corporate profits to be artificially shifted to low or no tax jurisdictions. Besides, Pakistan will also receive consistent support and guidelines from OECD to implement BEPS’s standards to counter harmful tax practices and tax treaty abuses. Mr. Moin ul Haque added that the signing of the Multilateral Instrument is yet another step of the incumbent to adopt international best practices in the field of tax matters and to join the multilateral fight against tax evasion through continuous and mutual exchange of information. While counting the steps taken by the government to infuse financial transparency in Pakistan, the Ambassador said that Pakistan has already joined ‘Open Government partnership’ (OPG) in December, 2016, and as well as signed OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters in September, 2016. Pakistan has also lately signed revised Agreement on Avoidance of Double Taxation with Switzerland in March, 2017. These steps, he said, were reflective of the government’s firm commitment to a transparent and accountable governance structure in the country. Earlier, Pakistan signed the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Accounts (MCAA). The MCAA was signed by Mr. Mohammad Iqbal, chief (International Taxes), FBR. The signing was overseen by the Ambassador and Deputy Secretary General, OECD. The signing ceremony was attended by senior OECD officials of Global Forum on Transparency and Exchange of information for Tax purpose. Qamar Bashir Counsellor (Press) Embassy of Pakistan, Paris 0770123323(mobile) 01 45 61 48 98 (office) 01 45 61 10 17 (fax)
Views: 84 Qamar Bashir
WealthPro Ukraine, Kiev 2016 Conference&Expo
 
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Bosco Conference invites you to participate in IV ANNUAL INTERNATIONAL B2C Conference&Expo http://www.bosco-conference.com/ru/events/upcoming/wealthpro-ukraina-kiev-2017 WealthPro Ukraine, Kiev – 02-03rd of March, Fairmont Grand Hotel 5*. Conference Program: 1. Estonia: companies and banks. Spain: companies, banks and residence permit. Svetlana Hohlova, Chairman of the Board, Bell Moore S, Estonia 2. EU citizenship & Residency by Investment in Cyprus real estate. Andreas Santis, Country manager Russia, Ukraine & Kazakhstan, Leptos Estates, Russian 3. Labuan - modern jurisdiction of asset management. Dr Irina Francken, Director/Partner , IN Fiduciary Services Group, Singapore 4. Full protection of confidentiality: myth or reality? Risks, practice and decisions. Oleg Kuts. Managing Partner, KK & Partners, UK 5. 10 selected opportunities 2017 International legal structures, less tax, no information exchange. Mag. Johannes Schwarz, CEO Zugimpex, Switzerland – Slovakia – Malta 6. Judicial practice of deoffshorization questions in Ukraine. Olga Dmitrieva, Attorney-at-Law, Managing Partner, Law Company "Dmitrieva & Partners", Ukraine 7. Legal aspects of work of non-resident companies in the modern Ukrainian reality. Tetiana Kuzmych, Lawyer, Senior Partner, K.A.C. Group, Ukraine 8. Using of non-Resident companies by Ukrainian business and foreign Investors In Ukraine. Features, advantages and disadvantages. Oksana Kryzhanivska, Partner Attorney ALEXANDROV&PARTNERS, Ukraine 9. Possible Problems for Ukrainian Businesses in case Ukraine joins Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information. Elena Drobot, Managing Partner VIZA, Ukraine 10. Switzerland: Foreign Assets Protection and Tax Optimization. Dr. Daniel M. Porcedda, Buseness Development Manager, Goldblum and Partners, Switzerland •Liechtenstein • USA • Canada • Latvia • Lithuania • Luxemburg • Hungary • Netherlands Who will you meet: more than 250 delegates from Ukraine: CEOs and CFOs, business owners, corporate and private lawyers, auditors, tax consultants, bankers, financial advisors, private investors, HNWI. Why this event?  To establish contact with key people in the region.  To find new customers.  To direct access to potential clients during and after the event.  To distribute permanent reminders of services provided.  To merge education, business and networking.  To track your competitors. PARTICIPATION FEE – 2600 UAH Options: 1 delegate 2nd and further delegates REGISTRATION http://mail.bosco-conference.com/core/anketa.nsf/anketa
Views: 94 Bosco Conference
Beyond FATCA - the rise of global automatic exchange.  Speaker: KPMGCI's Tony Mancini
 
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Following its signing of the Multilateral Competent Authority Agreement last year, Guernsey will soon lodge local regulations to give effect to the OECD’s CRS. The regulations, which will be effective from 1 January 2016, will place obligations on Guernsey Financial Institutions (“FIs”) to undertake due diligence and, where appropriate, report on their clients who are resident in potentially 90 jurisdictions around the world.
FATCA Compliance - English
 
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Now Trade at a flat brokerage of Rs.15 per order for order value of upto Rs.50,000 & at a flat brokerage of Rs.30 per order for order value of more than Rs.50,000. Register Now on the link below to avail New Flat Brokerage rates https://www.angelbroking.com/open-demat-account?utm_source=Youtube&utm_campaign=description_text To combat the problem of offshore tax evasion and hiding of unaccounted money abroad, Government of India has signed an Inter-Government Agreement with US pursuant to its law known as FATCA i.e. "Foreign Account Tax Compliance Act" and has also joined the Multilateral Competent Authority Agreement (MCAA) for automatic sharing of information through Common Reporting Standard (CRS) with member countries of OECD and G20. Correspondingly, Central Board of Direct Taxes, amended the Income Tax Rules in 2015 to comply with the requirement of FATCA and CRS.
Views: 743 Angel Broking
Panel 3: Protection of Taxpayer Rights in Multi-Jurisdictional Disputes
 
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With the expanded exchange of information between taxing jurisdictions, there is an increased likelihood that taxpayers will face proposed tax assessments from multiple tax agencies. This panel will (1) explore what an effective multijurisdictional dispute resolution framework would look like and what fundamental rights it should incorporate; (2) analyze whether there is an effective mechanism for coordinating and resolving multijurisdictional disputes; and (3) analyze whether existing mechanisms provide adequate protection of taxpayer rights between jurisdictions and how they fit under existing human rights frameworks.
Views: 121 Tax Analysts
OECD - WikiVidi Documentary
 
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The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 35 member countries, founded in 1960 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members. Most OECD members are high-income economies with a very high Human Development Index and are regarded as developed countries. OECD is an official United Nations Observer. In 1948, the OECD originated as the Organisation for European Economic Co-operation , led by Robert Marjolin of France, to help administer the Marshall Plan . This would be achieved by allocating American financial aid and implementing economic programs for the reconstruction of Europe after World War II. In 1961, the OEEC was reformed into the O... http://www.wikividi.com ____________________________________ Shortcuts to chapters: 00:01:58: Organisation for European Economic Co-operation 00:04:07: Founding 00:05:28: Enlargement to Central Europe 00:06:20: Reform and further enlargement 00:10:15: Aim 00:11:29: International investments and multinational enterprises 00:13:42: PISA 00:14:07: Taxation 00:17:47: Publishing 00:18:27: Magazine 00:19:14: Statistics 00:19:30: Working papers 00:19:46: Reference works 00:20:21: Meetings 00:21:02: Secretariat 00:23:36: Committees 00:24:07: Current members 00:24:36: Relations with non-members ____________________________________ Copyright WikiVidi. Licensed under Creative Commons. Wikipedia link: https://en.wikipedia.org/wiki/OECD
Top Five Things to Consider Before Choosing a Forex Broker
 
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Download the Key Takeaways from This Lesson: http://forextraininggroup.com/top-five-things-to-consider-before-choosing-a-forex-broker/ You can Find the Full Blog Post and Download a Short Printable PDF Version Summarizing the Key Points of This Lesson By Clicking Below: http://forextraininggroup.com/top-five-things-to-consider-before-choosing-a-forex-broker/
Indian Revenue Service | Wikipedia audio article
 
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This is an audio version of the Wikipedia Article: Indian Revenue Service 00:02:33 1 History 00:02:41 1.1 Indian Revenue Service (Income Tax) 00:04:09 1.2 Indian Revenue Service (Customs and Indirect Tax) 00:05:25 2 Recruitment 00:06:44 3 Training 00:07:20 3.1 National Academy of Direct Taxes 00:08:02 3.1.1 First Module 00:08:47 3.1.2 Second Module 00:10:00 3.2 National Academy of Customs, Indirect Taxes, and Narcotics 00:11:49 4 Responsibilities of an IRS Officer 00:16:41 5 Designations 00:16:57 6 Major concerns 00:17:06 6.1 Corruption 00:18:18 6.2 Staff shortages 00:19:47 6.3 Murder of many officers 00:20:12 6.4 Recent initiatives 00:23:06 7 Further reading 00:23:42 8 See also Listening is a more natural way of learning, when compared to reading. Written language only began at around 3200 BC, but spoken language has existed long ago. Learning by listening is a great way to: - increases imagination and understanding - improves your listening skills - improves your own spoken accent - learn while on the move - reduce eye strain Now learn the vast amount of general knowledge available on Wikipedia through audio (audio article). You could even learn subconsciously by playing the audio while you are sleeping! If you are planning to listen a lot, you could try using a bone conduction headphone, or a standard speaker instead of an earphone. You can find other Wikipedia audio articles too at: https://www.youtube.com/channel/UCuKfABj2eGyjH3ntPxp4YeQ You can upload your own Wikipedia articles through: https://github.com/nodef/wikipedia-tts "The only true wisdom is in knowing you know nothing." - Socrates SUMMARY ======= The Indian Revenue Service (IAST: Bhāratīya Rājasva Sevā), often abbreviated to I.R.S., or simply IRS, is the administrative revenue service of the Government of India. A Central Service, it functions under the Department of Revenue of the Ministry of Finance and is under the administrative direction of the Revenue Secretary and the ministerial command of the Minister of Finance. The IRS is primarily responsible for collecting and administering direct and indirect taxes accruing to the Government of India. It is the largest civil service amongst the organised civil services in the Indian government and serves the nation through discharging sovereign functions of collection of revenue for development, security and governance.As with other countries that follow the Westminster system of government, the IRS is part of the permanent bureaucracy of the nation, and is an inseparable part of the executive of the Government of India. As such, the bureaucracy remains politically neutral and guarantees administrative continuity to the ruling party.The IRS comprises two branches, IRS (Income Tax) and IRS (Customs and Indirect Taxes), controlled by two separate statutory bodies, the Central Board of Direct Taxes (CBDT) and the Central Board of indirect taxes and Customs (CBIC). The duties of the IRS (IT) include providing tax assistance to taxpayers, pursuing and resolving instances of erroneous or fraudulent tax filings, and formulating and enforcing policy concerning income tax in India. The duties of the IRS (C&IT) include formulation and enforcement of policy concerning the Goods and Services Tax, prevention of smuggling and administration of matters related to Customs and Narcotics. In the 2015 fiscal year, the IRS (IT) processed 3,91,28,247 returns and collected ₹6.95797 lakh crore (equivalent to ₹7.5 trillion or US$100 billion in 2017) in gross revenue, spending ₹6 (equivalent to ₹6.00 or 8.3¢ US in 2017) for every ₹1,000 (equivalent to ₹1,100 or US$15 in 2017) it collected. The relative contribution of direct tax to the overall tax collection of the Central Government has risen from about 36% to 56% over the period of 2000–01 to 2013–14. The contribution of direct tax-to-GDP has doubled (from about 3% to 6%) during the same period.
Views: 19 wikipedia tts