News

Contractor compliance in Romania set to get more complicated as intelligence services screen for tax evasion

Friday 26th July 2019

Romania, once known as the ‘sick man of Europe’, is a country on the up. Now the 41st biggest economy in the world, 10th largest in the EU, and one of the fastest growing economies of 2018, it’s no surprise that the country is a contracting hotspot. This is only compounded by the current skills… [continue reading]

HMRC crackdown on executives as over 150 CFOs and senior finance executives personally fined

Monday 22nd July 2019

There’s no doubt that the push towards tougher and more comprehensive tax systems around the globe is progressing fast. One destination arguably taking a tougher line than most is the UK.  Recently, we have written about the numerous steps that HMRC has taken to clampdown on fraud, most notably through introducing increasingly effective machine learning… [continue reading]

Saudi contractor compliance changes as country launches ‘green card’ residency scheme

Friday 19th July 2019

As we’ve seen in Italy recently, economies around the globe are increasingly seeking to attract foreign talent for a multitude of reasons. Just last week news emerged that Saudi Arabia is following this trend, launching a new special residency scheme similar to the ‘green card’ systems applicable in other countries, aimed at enticing wealthy and… [continue reading]

Record HMRC offshore haul of over £500 million from British taxpayers with offshore interests

Tuesday 16th July 2019

As regular readers of our blog will know, we’ve been increasingly vocal to our clients about the stance that HMRC is taking towards tax evasion. Whether this is through the expansion of their powers under the Criminal Finances Act 2017 (CFA), rapidly innovating technology such as Connect, and wide-reaching international initiatives such as the Common Reporting Standard (CRS) – this… [continue reading]

Stricter punishments mean that contractor compliance in Sri Lanka is set to become far more complicated

Friday 12th July 2019

An island famed for its tea, tourism and test cricket, Sri Lanka is a country on the up, recently transitioning from a rural-based society towards a modern, urbanised economy built on a foundation of manufacturing and services. The destination has made significant progress in its socio-economic and human development indicators, and has seen a robust… [continue reading]

Tax and compliance set to get stricter as new act signals Canadian compliance crackdown

Tuesday 9th July 2019

Canada, the home of maple syrup, ice hockey, and Justin Bieber, is also an increasingly popular market for foreign workers. With the 10th largest GDP in the world, the fourth highest total estimated value of natural resources and a sizable manufacturing sector, it’s not hard to see why. Furthermore, skills shortages in the nation are ensuring… [continue reading]

Brazil cryptocurrency tax laws increase compliance complexity in the country

Friday 5th July 2019

As we reported recently, many countries around the world are cracking down on digital asset tax evasion as part of a wider movement towards tougher tax systems. The latest nation to follow this trend is Brazil, with authorities in the destination seeking ways to prevent evasion on the profits of cryptocurrency transactions.  Brazil is one of… [continue reading]

Digital tax and contractor compliance becomes more complex as countries continue to innovate

Tuesday 2nd July 2019

Here at 6CATS, we’re very vocal about the constantly increasing complexity of global tax systems. Recently, authorities around the world have been pulling out all the stops to crack down on evasion, with a particular focus on creating better solutions through tax technology. This was reflected last week in a piece in The Times’ Raconteur… [continue reading]