A new global standard model for the automatic exchange of information commonly referred to as FATCA has come into play. There is no hiding place anymore. All types of corporate structures be they offshore companies, trusts or foundations fall within scope of the agreement. Are you aware that the directors of offshore companies and professional trustees managing trust arrangements are obliged to disclose information of any distributions to the tax authorities of the country where the beneficiaries are tax resident? Did you know that some of the great bastions of private banking secrecy such as Switzerland and Luxembourg are no longer able to provide sanctuary? Do you have a tax problem which needs addressing? You have a limited time in which to put your tax affairs in order and the window of opportunity is getting increasingly smaller.
If you require professional tax advice you need to speak to a financial planning expert. To speak to a certified financial planner about international tax planning, wealth management, pensions and investments call Tel: +34900102374 or email enquiries@fiduciarywealth.gi. We would be delighted to arrange a private consultation with one of our financial planners to discuss your situation and provide a solution to your problem.
FATCA the final nail on non disclosure and tax evasion
17 November 2018
