Posts Tagged ‘taxpayers’

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More than five million workers have paid the wrong amount of tax, with a vast number now facing attempts to claw it back by HM Revenue and Customs.

U.S. citizens abroad face an array of tax compliance dilemmas for themselves and their families. Americans must report their worldwide income regardless of whether they are paying local taxes where they live. They also must report their non-U.S. bank accounts on FBARs (now FinCEN Form 114) and file the FATCA Form 8938.

It’s a known fact that India’s salaried class single-handedly contributes to the country’s income tax base. But now a new study has found that Indians are among the most taxed in the world.

The UAE has no immediate plans to impose tax on individuals, Sheikh Hamdan Bin Rashid Al Maktoum, Dubai’s deputy ruler and Minister of Finance has confirmed.

Tired of dealing with intrusive US tax laws and complicated tax filings, 3,000 Americans have renounced their citizenship last year, triple the average for the previous five years.

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