You are currently browsing the Capital Comments weblog archives for the day 12. August 2009.
12. August 2009 by Dan Walkow, CFA, CMT.
As reported today in the New York Times Britain and Liechtenstein signed an accord that would allow British holders of assets in secrect accounts to declare their holdings voluntarily in exchange for a reduced penalty fee or face closure of their accounts.
It would not be unreasonable to expect similar type of tax cooperation aggreements to be put in to force by Canada and the United States in the near future.
If you have offshore accounts that you have not declared or paid taxes on seek counsel as, in my opinion, it is not a matter of weather Canada and the USA will implement such programs it is a matter of when…
See the full story here.
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