updated 6:34 PM CEST, May 26, 2019

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Glimmer of hope seen in IRS proposal to tweak FATCA regs

After more than eight years of lobbying Congress and the White House, opponents of the 2010 Foreign Account Tax Compliance Act are cautiously welcoming news that the Internal Revenue Service has issued a proposal to make major changes in that legislation and certain other reporting requirements that have made life…

AmCham China to add chapter in Shandong province

The American Chamber of Commerce in the People’s Republic of China has announced that it’s to establish a fifth chapter in the country, in Shandong province, following the signing of a memorandum of understanding with the region's Commerce Department.
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Hong Kong tops new ranking of most resi properties sold for US$25m-plus

Hong Kong saw the greatest number of sales of ultra-prime residences costing more than US$25m (£22.1m, £19.9m) in the year to the end of August, according to a first-ever assessment of this market by Knight Frank. New York and London ranked in second and third place respectively, the London-based property…
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American Citizens Abroad holds 'Town Hall meeting' for London expats

Key lawmakers on Capitol Hill really are aware of the issues being faced by expatriate Americans, and the dysfunctionality in particular of the United States' citizenship-based tax regime, delegates to the American Citizens Abroad's latest "Town Hall" in London were told the other evening. 
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NY private equity firm acquires global trust biz Zedra

Corsair Capital LLC, a New York-based U.S. private equity firm, is to acquire a majority stake in Zedra, a multi-jurisdictional corporate, trust and fund services provider that was created in 2016 by the combining of Barclays' UK and non-UK trust businesses with an existing entity.
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More than 1,000 Americans 'expatriated' in Q3: latest data

For the fourth year in a row, more than 1,000 people formally gave up their American citizenship in the three months to the end of September, as a result, observers said, of the continued frustration over the way Americans living overseas are taxed.
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