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Tax-News.com: US IRS Reminds Of FBAR Filing Obligation

The Internal Revenue Service is reminding US citizens, resident aliens, and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is ...

Tax-News.com: US Tax Season Begins

The Internal Revenue Service launched tax season for individuals on February 15, 2021, highlighting the various supports available for taxpayers when preparing their returns. ...

Tax-News.com: Digital VAT Regimes Vital To Buoy Countries' Tax Takes: Report

The OECD has released its annual Consumption Tax Trends report, which highlights that with VAT rates at an all-time high, governments should ensure they have effective VAT frameworks in place to ta...

Tax-News.com: BVI Rules Out New Taxes In 2021 Budget

The Government of the British Virgin Islands has announced that it will seek to boost tax collections by modernizing tax administration, not by imposing new taxes. ...

Tax-News.com: Cayman Tables Law For Digital Asset Business Regime

The Government of the Cayman Islands has published legislation in its Official Gazette to introduce a regulatory regime for virtual asset service providers (VASPs). ...

Tax-News.com: France To Collect Its Digital Services Tax This Year

French Minister of Finance Bruno Le Maire has reportedly said that France intends to collect the country's digital services tax in December 2020. ...

Tax-News.com: OECD Indicates New Focus On Virtual Currency Tax Issues

The OECD has released a new report on countries' tax rules for virtual currencies, alongside an announcement that the Common Reporting Standard will be expanded next year to newly cover virtual cur...

Tax-News.com: Cyprus, US To Begin Exchanging CbC Reports

Cyprus has announced that a deal for the exchange of country-by-country reports between the territory and the US is expected to become effective and cover reporting years starting on or after Janua...

Tax-News.com: German FM Scholz Optimistic About 2020 Digital Tax Consensus

German Finance Minister Olaf Scholz is optimistic that an international agreement on taxing the digital economy will be reached this year. ...

Tax-News.com: UK Treasury Rules Out Digital Tax Repeal

The UK Government has dismissed speculation that it will repeal its digital services tax in a bid to secure a post-Brexit free trade agreement with the United States. ...