Recently the Swiss Federal Tax Administration has transferred CHF 500 mln (USD 549 mln) to the United Kingdom as an upfront payment, as provided for in the bilateral withholding tax agreement between two countries.


Tax authorities in the Swiss canton of Zurich have negotiated with Google, demanding that the company pay more in tax, following the UK parliament’s example.


The Association of Chartered Certified Accountants (ACCA) has attacked UK government plans to introduce a new General Anti-Abuse Rule against tax avoidance, stating that it is unnecessary and will cause uncertainty while failing to prevent tax legislation abuse.


The Hungarian government has announced of plans to get comprehensive information about undeclared offshore accounts of Hungarian taxpayers in order to levy a retroactive 35% tax on the assets kept in foreign banks.


According to the Jersey government, last week new comprehensive double tax agreements were signed by Jersey with the Isle of Man and Guernsey.


Recently Liechtenstein and Austria have concluded negotiations on a bilateral withholding tax agreement and on a revision of the existing double taxation agreement between two countries.


The Swiss Federal Council resolved to bring the new Tax Administrative Assistance Act into effect on February 01, 2013.


Orlando Smith, the new Premier Minister and Minister for Finance of the British Virgin Islands, announced that the government intends to develop innovative new offers in order to strengthen its position as a leading offshore financial center that meets international standards.


The European Council of Economic and Financial Affairs (Ecofin) authorized with a qualified majority EU member states to proceed with plans for a financial transactions tax introduction.


Last week the US Treasury Department and the Internal Revenue Service issued comprehensive final regulations implementing the information reporting and withholding tax provisions for foreign financial institutions under the Foreign Account Tax Compliance Act (FATCA)

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