The spring edition of the Florida Bar’s International Law Quarterly (ILQ) is out. The ILQ is quickly becoming required reading for any international lawyer. As Editor-in-Chief Alvin F. Lindsay points out, each issue of the ILQ strives for a balance of scholarship and practical articles that will be useful to all international practitioners. The spring edition is no … [Read more...]
3 Things Every U.S. Company Must Know About the IRS' New Foreign Accounts Reporting Requirement.
Working overseas is a great experience. Along with the cultural experience it brings, working abroad is a sure fire way for an employee to earn a promotion once he or she returns home to the U.S. The arrangement also establishes the U.S. company as a true international player. In today’s globalized economy, nothing beats that kind of exposure. With more U.S. companies sending … [Read more...]
Global Compliance Symposium, Washington, D.C. March 31 & April 1, 2011
As global business markets spring back to life, it’s never been more important to stay on top of compliance and regulatory issues around the world. For in-house counsel, keeping up with multi-jurisdictional regulatory regimes often requires the assistance of support staff and outside counsel. As an international business attorney based in Miami, Florida, I’m … [Read more...]
Corruption in Legal Systems Persist Around the World. And Will Continue.
Ashby Jones of the Wall Street Journal’s Law Blog, just published an article on the findings of a major global survey on corruption released today at the 2010 International Bar Association (IBA) Annual Conference in Vancouver, Canada. While it comes as no surprise that corruption persists in many jurisdictions around the world, many in the legal profession are … [Read more...]
Harvard Study Explores Link Between Human Rights and Corporate Securities Law
Over at the Harvard Law School Forum on Corporate Governance, there’s an insightful article on the results of a research project that examined whether and how corporate and securities law in more than 40 jurisdictions around the world currently fosters corporate respect for human rights. It is believed to be the first in-depth, comparative study of the links between … [Read more...]
Swiss Banks: Not a Good Place for International Icons of Intrigue to Stash Their Cash (But Still Great for Everyone Else).
James Bond , Jason Bourne and other international icons of intrigue may soon need to look elsewhere to keep their secret bank accounts. A Swiss parliamentary committee recommended yesterday that the full Parliament back an agreement with the United States to hand over the bank details of UBS’ 4,450 American clients in spite of Switzerland’s long-standing bank … [Read more...]
Goldman Sachs' Annual Report: It's All Smoke and Mirrors.
As an international business attorney, I read my fair share of annual reports-- both domestic and foreign. While the amount of information disclosed in the reports varies widely depending on the industry and country, most reports fall on the far left of the transparency continuum i.e. on the fringe of what the law requires. There is no better illustration of the … [Read more...]
Global Corporate Tax Trends for 2010: An Overview of 183 Countries.
The World Bank Group's Doing Business Project recently released the 2010 edition of its Paying Taxes Report. The report is unique in that it measures the ease of paying taxes across 183 economies, by assessing the time required for companies to prepare and file tax returns and pay taxes, and also the company’s total tax liability as a percentage of commercial profits. The … [Read more...]
Switzerland and United States Reach Landmark Agreement in UBS Tax Case
Swiss Parliament Must Still Approve Amended Protocol The CBS news magazine 60 Minutes featured a story on January 3, 2010 concerning the tax controversy between Switzerland and the United States over Switzerland's secretive banking industry. At the time, it appeared there would be no end in sight to the impasse. 60 Minutes: A Crack in the Swiss Vault Yesterday, however, … [Read more...]
UK Investors Offered Amnesty Under Liechtenstein Tax Deal
In a trend that could spread to other jurisdictions, Liechtenstein is asking wealthy UK investors who have assets hidden abroad to take advantage of its “unique and attractive” amnesty program. The agreement reached between the UK and Liechtenstein combines generous terms with a promise by the principality to close the accounts of customers who could not prove they … [Read more...]