Author: Created: 11/27/2011 3:44 PM RssIcon
This blog is about collecting, analysing and discussing new legal information or requests in the QI, FATCA, EU Savings and Rubik tax reporting fields.
By plang on 6/21/2012 3:38 PM
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Switzerland and the United States published a joint statement regarding the implementation of FATCA in order to simplify the tasks of the Swiss FFIs. The goals of the future agreement cover in particular the definition of a list of Swiss FFIs considered as deemed-compliant or exempted FFIs, the elimination of the 30% US withholding on US source payments to Swiss FFIs and the simplification of the implementation of the FATCA regulation. The Swiss FFIs won’t have to close the accounts of the recalcitrant account holders and to apply a withholding tax on foreign passthru payments. The Swiss FFIs will report directly to the US authorities.

In return Switzerland will force all Swiss financial institutions (except if exempt or deemed-compliant) to enter into an FFI agreement with the Internal Revenue Service (IRS) and will accept to honor any group request by the US competent authority for additional information about US recalcitrant accounts.

La Suisse et les Etats-Unis...
By plang on 6/12/2012 9:03 AM
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The IRS published the new W-8BEN forms in draft. There will be 2 different W-8BEN forms in the future, one for individuals (W-8BEN) and one for entities (W-8BEN-E). The W-8BEN-E covers chapter 3 and chapter 4 categories of entities (QI and FATCA).

L’IRS a publié les versions provisoires des nouveaux formulaires W-8BEN. Il y aura dorénavant deux formulaires W-8BEN différents, un pour les individus (W-8BEN) et un pour les entités (W-8BEN-E). Le W-8BEN-E reprend les catégories d’entités propres au chapitre 3 et au chapitre 4 (QI et FATCA).

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By plang on 6/11/2012 10:13 AM
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The procedure regarding the upfront payments (CHF 2 billion for Germany and CHF 500 million for the United Kingdom) has been approved by the SBA. The 30 paying agents representing the largest portions of client assets from Germany and UK will have to pay an upfront payment proportional to their portion on 31/12/2010. The 30 agents will be elected among the 50 paying agents representing the largest part of the withholding tax reported according to the EU savings directive for the year 2010. The 50 paying agents must determine the relevant assets and have them verified and confirmed by their external auditors. An implementation vehicle will be founded by the paying agents who have to pay a preliminary payment.

La procédure concernant les avances (CHF 2 milliards pour l’Allemagne et CHF 500 millions pour le Royaume-Uni) a été adoptée par l’ASB. Les 30 agents payeurs représentant les parts les plus importantes des avoirs clients pour chacun des pays concernés devront payer...
By plang on 4/18/2012 8:10 AM

The revised bilateral tax agreements between Germany and Switzerland and the UK and Switzerland are legal and have been accepted by the European Commission, said European Commissioner Algirdas Semeta yesterday.

Les accords fiscaux amendés de la Suisse avec l'Allemagne et le Royaume-Uni sont désormais conformes au droit communautaire, a annoncé hier le commissaire européen à la fiscalité, Algirdas Semeta.

By plang on 4/16/2012 8:14 AM
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A tax agreement has been signed between Switzerland and Austria. The rate for the one-off payment for regularizing the past goes from 15 to 38% and a single rate of 25% applies for the taxation of income. There won’t be any advance payment by Swiss banks, no rules regarding inheritance and no additional administrative assistance enquiries. Switzerland will have a better access to the Austrian financial market. If the parliament in both countries approves the agreement, it should enter into force beginning 2013.

Un accord fiscal a été signé entre la Suisse et l’Autriche. Le taux de régularisation du passé va de 15 à 38% et le taux d’imposition unique des revenus est de 25%. Il n’y aura pas d’avance à payer par les banques suisses, pas de règles concernant les successions et pas de demandes de renseignements supplémentaires. La Suisse obtient un meilleur accès au marché autrichien. Si les parlements des deux pays approuvent l’accord, il devrait entrer en vigueur au début...
By plang on 4/5/2012 3:20 PM
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Switzerland and Germany signed today an amendment to the tax agreement of 21 September 2011. The main changes are linked to inheritances, the increase of the rate applied for past regularization, the increase of the number of possible requests for information, the date until the German taxpayers can leave the Swiss banks without notification and the exclusion of the interests already covered by the EU Savings directive.

La Suisse et l’Allemagne ont signé aujourd’hui un complément à l’accord du 21 septembre 2011. Les modifications principales concernent les successions, l’augmentation du taux appliqué pour la régularisation du passé, l’augmentation du nombre de demandes de renseignements, la date jusqu’à laquelle les contribuables allemands pourront quitter les banques helvétiques sans être annoncés et l’exclusion des intérêts déjà soumis à la taxe européenne....
By plang on 3/27/2012 8:07 AM

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The protocol signed last week mentions that United Kingdom shall benefit from any increase of the one-off payment regularisation tax rate that Switzerland may agree on with Germany before the end of April 2012.

Le protocole signé la semaine dernière précise que le Royaume-Uni bénéficiera de toute augmentation du taux sur le paiement unique pour la régularisation du passé qui serait négociée avec l'Allemagne avant la fin avril 2012.

By plang on 3/20/2012 12:18 PM

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Switzerland and United Kingdom signed today an amendment to the tax agreement regarding the withholding tax at source (6th October 2011). The agreement needs to be approved by the parliament and should enter into force in 2013.

La Suisse et le Royaume-Uni ont signé aujourd'hui un amendement à l'accord sur l'imposition à la source du 6 octobre 2011. L'accord va maintenant être examiné par le parlement et devrait entrer en vigueur en 2013.

By plang on 2/17/2012 10:22 AM
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The IRS published a consolidated guidance regarding the implementation of FATCA and is waiting for comments before April 30, 2012.

Principal changes and additions to previous notices (2010-60, 2011-34, 2011-53) are the following:

1. The scope for Grandfathered Obligations has been expanded from March 18, 2012 to January 1, 2013.

2. Previous notices mentioned that all members of the same expanded affiliated group had to comply with the FFI status. A two-year transition has been granted (until January 1, 2016) for the full implementation of this requirement.

3. More Deemed-Compliant FFIs categories have been added.

4. The due diligence procedures for the identification of the accounts have been modified: tresholds have been put higher and there is a bigger focus to rely on electronic reviews and information gathered in the context of anti-money laundering/KYC rules.

5. Responsible FFI officers will be expected to...
By plang on 2/9/2012 10:18 PM

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The IRS has just issued a 400 pages proposed regulation for FATCA implementation. Further analysis will follow soon.

L'IRS vient de publier sa proposition de règlementation pour l'implémentation de FATCA. Analyse à suivre.

FATCA - Formulaire 8966 pour 2015
Belgique - Nouvelle taxation des plus-values
FATCA - Opening of the Registration Website
FATCA - Draft version of form 8966
FATCA – Six-Month Extension for FATCA Withholding
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