Page 19 - Automatic Exchange News Today

The South African Revenue Service said its efforts to expand the use of data to detect tax non-compliance is beginning to bear fruit.

MUSCAT: Global professional services firm EY organised a seminar to provide its clients with recent updates to the Sultanate of Oman’s tax landscape. Several international tax regulations that affect the country, regional and local tax matters were highlighted.Broadly the seminar covered the following: Economic and legal developments in the Sultanate of...

The South African Revenue Service (SARS) says that more information on more than 75 million financial accounts, covering total assets of around R160.4 trillion,…

It has been a tumultuous last 12 months for banks, despite decisive and far-reaching Central Bank actions that have supported the economy. Banks continue to persevere in an environment characterised by high costs of funds and having to deal with issues relating to counterparties’ creditworthiness and provisioning, says KPMG in its latest perspective on...

The Multi-Agency Group (MAG) on Pandora Papers has begun its preliminary investigation of entities and persons named in Pandora Papers and held its first meetin

MAG, in its meeting, discussed the information reported by the International Consortium of International Journalists (ICIJ) on October 3, 2021, where it was claimed to be a 2.94 terabyte (TB) data trove that exposes the offshore secrets of wealthy elites from more than 200 countries and territories.

The information was shared as part of a yearly process in which Switzerland shared the information of roughly 33 lakh financial accounts with 96 countries.

The Federal Tax Administration (FTA) said that the exchange of information this year involved 10 more countries.

India gets third set of Swiss bank details under automatic info exchange framework

The Indian government has received the third set of Swiss bank account information from Switzerland. This was done, as part of an annual exercise, under which the European nation shared details of nearly 33 lakh financial accounts with 96 nations. On the condition of anonymity, officials revealed that the details relate mostly to businessmen, including NRI's now settled in several South-East Asian countries as well as in the US, the UK and even some African and South American countries.