News

EU remove Switzerland from tax haven list

Tuesday 15th October 2019

At 6CATS, something we’re especially vocal about is the pressure that international bodies are applying to crack down on tax and compliance. As a result of this pressure, numerous countries around the world are toughening up on legislation, and taking in record tax collections. One destination that has made large strides in this regard is… [continue reading]

Ukrainian tax crackdown continues as partnership with Switzerland blossoms

Monday 30th September 2019

Ukraine, a growing economic power, is following the lead of many other countries in Europe, and toughening up on tax and compliance. The latest measure the country has taken is signing a series of amendments to its Double Taxation Avoidance Agreement with Switzerland. The ex-Soviet state is just one of a number of nations that has recently linked… [continue reading]

How is pressure from the EU set to affect contractor compliance in Ireland?

Monday 19th August 2019

Famed for its culture, history, and most importantly, Guinness, Ireland is a contracting hotspot, with the economy growing a staggering 8.2% in 2018, and a growing demand for skilled professionals across a number of sectors. However, despite this, the country has historically been labelled as a tax haven, offering some of the lowest corporate tax… [continue reading]

India-Switzerland tax crackdown set to continue with increased data sharing

Wednesday 7th August 2019

Two contracting hotspots that we’ve written about a lot recently, India and Switzerland, have both individually been working hard to crack down on tax evasion and institute tougher compliance measures. Be it through the record breaking Swiss tax amnesty, or India’s cutting edge machine learning technology, it’s clear both nations are at the forefront of… [continue reading]

HMRC turns focus to businesses after record prosecutions

Friday 14th June 2019

As regular readers of our blog will know, we’re increasingly vocal about the aggressive stance that HMRC and global authorities are taking towards tax evasion. This has stemmed from a number of factors, such as expansion of their powers under the Criminal Finances Act 2017 (CFA), rapidly innovating technology such as Connect, HMRC’s big data program and… [continue reading]

India Hong Kong tax agreement strengthens countries’ commitment to fighting tax evasion

Friday 24th May 2019

India and Hong Kong, two highly attractive destinations for international contractors have recently collaborated in the fight against international tax evasion by signing a treaty aimed at tackling non-payment. The India Hong Kong tax agreement is just another move on the part of both nations to claw back lost revenue. As two destinations which offer… [continue reading]

UBS to face German tax evasion fine of €83 million

Monday 20th May 2019

At 6CATS, we’re clear that authorities worldwide are determined to introduce stricter tax and compliance systems. The latest step towards this has come from Germany, a country well known for taking a leading role in this movement. Recent reports from the region have stated that UBS is set to face a German tax evasion fine… [continue reading]

HMRC use of CRS helps them plough through ‘unprecedented’ levels of data

Friday 17th May 2019

Around the world, the push towards tougher, more comprehensive tax systems is progressing fast. One destination which is taking a tougher line than most is the UK. Since the introduction of the Common Reporting Standard, HMRC’s use of the CRS has helped it claw back a huge amount of lost revenue and adopt far stricter… [continue reading]

Contractor compliance in India set to get more complicated with introduction of ‘Project Insight’

Thursday 18th April 2019

Similar to many other developed nations trying to claw back revenue from tax evaders, India has announced that it will be using big data in order to crack down on non-compliance. This is the latest in a number of such developments as authorities turn to tax technology to prevent fraud, with more and more software… [continue reading]

Changes to HMRC tax evasion strategy leads to offshore crackdown of 5.67m financial records

Friday 5th April 2019

At 6CATS, we actively monitor the latest developments and trends in global tax and compliance in order to provide the best possible service to clients. The fact is, around the world, the push towards tougher, more comprehensive tax systems is progressing fast. Somewhere this is patently obvious is in the UK, with HMRC recently taking advantage… [continue reading]

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