U.S. TO PURSUE MORE OFFSHORE TAX EVADERS
Singapore - In addition to the recent case against Swiss banking concern UBS, the government will probe thousands of additional cases of U.S. citizens evading taxes through offshore bank accounts, said Kevin Downing, a senior tax attorney at the Justice Department, at a lecture here. He noted that the U.S. expects to examine between 4,000 and 7,000 cases, with both banks and governments cooperating in the probe.
Last year, UBS agreed to pay $780 million and hand over 4,450 client names to settle charges after it admitted helping U.S. clients evade U.S. tax law. Roughly 15,000 Americans with offshore accounts participated in an amnesty program to reduce penalties and avoid prosecution.
WOLTERS KLUWER TO ACQUIRE AUSSIE TAX SOFTWARE
Sydney, Australia - Wolters Kluwer Tax & Accounting has agreed to acquire the tax compliance software products Tax Integrator, Fringe Benefits Tax Organiser and Global Integrator from Ernst & Young Australia.Terms were not disclosed. The Tax Integrator product was developed to meet the corporate tax compliance demands of Australia and New Zealand. Global Integrator is used to help streamline the corporate tax compliance workflow process.
CCH ENHANCES CORPSYSTEM SALES TAX SOFTWARE
Riverwoods, Ill. - CCH has improved the exemption management features in the latest version of its CorpSystem Sales Tax Office software. Version 3.0 includes a built-in Customer Exemption Management module, allowing users to manage customer exemption certificate information directly in Sales Tax Office. Exemption information can be exchanged between Sales Tax Office, the company's enterprise resource planning software, or any third-party exemption certificate management system via Web services.
Sales Tax Office also now supports custom exemptions for procurement.
For more information, visit www.cchgroup.com.
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