International Law – BILT Group

New IRS Offshore Account Program

OVDP offered taxpayers whose conduct was considered “willful” as to the nonreporting of foreign income with a path to compliance and more importantly an opportunity to diminish the threat of criminal charges they may face upon discovery by the IRS.

India and U.S. Sharing Banking Information – New Agreement Signed

India’s banks and financial institutions will start sharing banking information with the U.S. tax authorities.

Transfer Pricing Study Should Not Be Your First Step

Many accounting firms, especially the “Big 4”, have been recommending multi-country transfer pricing reports to reduce tax risk from Base Erosion and Profit Shifting (“BEPS”) laws which most, OECD (Organization for Economic Co-operation and Development), G-20 and emerging countries are implementing.