cryptohunter
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Recent changes in international tax laws have had a significant impact on the use of offshore tax and legal structures. The trend in recent years has been towards greater transparency and information exchange between tax authorities, with the goal of cracking down on tax evasion and aggressive tax planning.
One example of this trend is the implementation of the Base Erosion and Profit Shifting (BEPS) project by the Organization for Economic Co-operation and Development (OECD). The BEPS project aims to prevent companies from shifting profits to low-tax jurisdictions, and has resulted in increased pressure on countries to share information about their taxpayers.
The Foreign Account Tax Compliance Act (FATCA) is another example of recent changes in international tax laws that have impacted offshore tax and legal structures. FATCA requires foreign financial institutions to report information about their US clients to the US Internal Revenue Service (IRS), and has made it more difficult for US taxpayers to use offshore structures to evade taxes.
One example of this trend is the implementation of the Base Erosion and Profit Shifting (BEPS) project by the Organization for Economic Co-operation and Development (OECD). The BEPS project aims to prevent companies from shifting profits to low-tax jurisdictions, and has resulted in increased pressure on countries to share information about their taxpayers.
The Foreign Account Tax Compliance Act (FATCA) is another example of recent changes in international tax laws that have impacted offshore tax and legal structures. FATCA requires foreign financial institutions to report information about their US clients to the US Internal Revenue Service (IRS), and has made it more difficult for US taxpayers to use offshore structures to evade taxes.
