The program for non-prosecution agreements for Swiss Banks is
largely settled. However, in a ruling by the Swiss Courts a few
weeks ago, a bank in the Canton of Ticino was prohibited from
releasing the names of two Swiss attorneys who acted as proxies for
American customer accounts. Further, the name of a law firm who
assisted U.S. persons was also withheld.
The participating bank was in the process of complying with
the Settlement Program and it intended to release the names of the
lawyers and law firm as part of the disclosure process, but a suit
followed to block the release of the information.
Ultimately, the Swiss court held that the names should be
protected from disclosure under its laws. The Court also found that
the U.S. lacks similar legislation to provide adequate data
Last week, U.S. authorities have indicated that by mid-November
an expanded list of banks and facilitators would be published. That
list mandates a 50% penalty, as opposed to a 27.5% penalty, for
U.S. persons entering the Offshore Voluntary Disclosure Program.
For those U.S. persons who have not yet come into compliance with
their U.S. tax obligations, time is growing short.
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that understanding local cultures is crucial to successfully
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national and global needs of private and public clients of any size
in more than 125 locations serving 50-plus countries.
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The discussion, moderated by the Chicago Bar Foundation (CBF), will feature Allstate GC Susie Lees, Dentons Pro Bono Partner Ben Weinberg, and Allstate/Dentons Criminal Records Fellow Nikki Donnelly from Cabrini Green Legal Aid. The panel, part of the CBF's ongoing Leadership Circle program, will focus on the ongoing Allstate/Dentons Pro Bono clemency project and best practices that can be applied by in-house departments and law firms to address serious needs in the community.
For many years, high net worth Asian families have relied on banking secrecy, trustee confidentiality and the incorporation of companies in secretive offshore jurisdictions to ensure that their assets and profits would not be disclosed to tax authorities, regulators and others.
But in the recent years, secrecy has been under attack by governments, not only in the US and OECD, but also in Asian jurisdictions.
The Panama Papers and other scandals involving well known personalities have captivated the attention of the media in Asia and globally. Banks and consultants have been prosecuted for assisting their clients to hide their wealth, and have been forced to implement complex procedures to promote transparency.
Whether you're a large airline, a regional carrier, a cargo carrier, a charter operator or a corporate/business/fractional owner-operator, the efficient management of available resources when things go wrong is of critical importance.
Not only may you find your options limited by the resources available to you, but in foreign countries or other locations where you have few or none of your own people on the ground, you may have to depend on resources that you aren't familiar with.
During this, our 11th annual Aviation Symposium, we will focus on how to effectively plan for and use to maximum advantage all resources available to mount a response—whether to an emergency requiring the evacuation of a handful of executives or hundreds of passengers, an airplane blown off the runway or a mid-air collision—that is calculated to meet the needs of the situation at hand, but also protect your brand and to position your company to "come out the other side."
It is widely expected that Congress will address tax reform early in its 2017 session. This alert summarizes President-Elect Trump's proposal and Speaker of the House Paul Ryan's proposal on key corporate tax provisions . . .
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