updated 11:28 PM CEST, Oct 22, 2021

News

U.S. Supreme Court declines to hear FBAR case

Foreign Bank Account Report-watchers have long wondered when an FBAR case would finally reach the Supreme Court, and in so doing, at last begin settling questions having to do with the scope of FBAR penalties, which can be draconian. But as Monday's Supreme Court announcement denying Alice Kimble the writ of…
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EU lawmakers call for updating regs to address more 'innovative tax schemes'

The European Union should update its tax avoidance legislation and revamp its systems for assessing harmful tax regimes if it is to ensure that member states are not deprived of substantial revenue, European Parliament lawmakers agreed on Thursday, in a non-binding resolution that was seen to be a response to…
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New AXFNJ acronyms for expats

It's hard to believe now, given how events have unfolded over the subsequent 24 years. But back in the months and years leading up to 1997, as preparations were underway for the British colony of Hong Kong to be "handed" back to China, there were genuine concerns that Hong Kong would…
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