The governments of France, Germany, Italy and Spain together with the UK and US have developed a “Model Intergovernmental Agreement to Improve Tax Compliance and Implement FATCA”. If you think that sounds like double Dutch it simply means that these countries have established a framework for reporting by financial institutions account information to their respective tax authorities. In other words if you are resident in any of these countries you need to be aware that the authorities are co operating and exchanging information in their continued attack on tax evasion.
This is not scaremongering in an attempt to persuade you to part with your investments this is FACT. We have been consistently advising that there is no longer any option but to restructure your assets in the most tax compliant way. The sooner the better in the light of this new initiative!
If you are worried that the tax authorities are closing in and you need to restructure your assets then contact us on +350 200 50982 or by email to wealth@fiduciarywealth.gi to arrange a meeting.
