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After finishing the second reporting round for US FATCA, Foreign Financial Institutions (FFI) must now prepare for what will be the most arduous international tax compliance hurdle to date: the CRS.

Each Reporting BVI Financial Institution (or its "sponsoring entity") that has a reporting obligation with respect to 2014 now has until July 31, 2015 to file its 2014 FATCA report.

Every U.S. person that had a financial interest in a foreign financial account during 2013 must electronically file a form with the U.S. Treasury Department.

Leaders of the Permanent Subcommittee on Investigations urged the DOJ to seek extradition of Swiss residents charged with tax evasion offenses.

On April 4, 2016, the Treasury Department and the IRS issued temporary regulations under Section 7874 on inversion transactions that added some new restrictions and implemented provisions previewed in two prior IRS notices.

The IRS announced that calendar years 2014 and 2015 will be regarded as a "transition period" for purposes of enforcement and administration of FATCA.

The Commission concluded that Apple must pay Ireland an amount equal to the alleged tax benefits, plus interest, amounting to some €13 billion.

Over the past few years, global financial regulators and treasury departments have continuously sought out new ways to expose individuals engaged in cryptocurrency transactions.

As many of our readers are aware, the "variable interest entity" ("VIE") structure has proven popular over the past decade as a means to facilitate the offshore financing of PRC companies doing business in regulated sectors such as the Internet and value-added telecommunications.

The British Virgin Islands (BVI) is a well-established offshore financial centre, with over 500,000 registered BVI Business companies. In recent years...

This update is intended to provide some basic background regarding Chapter 15 in the hedge fund context and some of the considerations presented by the Cayman and US filings.