South Africa, US sign tax agreement

first_img10 June 2014 An intergovernmental agreement to improve international tax compliance was signed by South Africa and the United States on Monday. The agreement, which promotes transparency between South Africa and the US on tax matters, was signed by Finance Minister Nhlanhla Nene and US ambassador to South Africa Patrick Gaspard. It aims to realise the Foreign Account Tax Compliance Act, a US federal law that aims to combat offshore tax evasion by encouraging transparency and obtaining information on accounts held by US citizens in other countries. “South Africa is committed to automatic exchange of information for tax purposes and to make the world a more transparent place from a tax perspective,” Nene said. “This commitment has been expressed through South Africa’s role in both the G20 and the Global Forum on Transparency and Exchange of Information for Tax Purposes.”Collaboration The Act calls for foreign financial institutions to provide the US Internal Revenue Service (IRS) with information about American account holders. Gaspard, who signed the agreement on behalf of the US, said the signing of the agreement was an important step in the collaboration between both countries to combat tax evasion. “When taxpayers overseas avoid paying what they owe, other taxpayers have to bear a disproportionate share of the tax burden. The intergovernmental Agreement to Improve International Tax Compliance and to implement the Act is an important part of the US government’s effort to address that issue.” In July 2012, the US introduced the option of a country entering into an intergovernmental agreement, which would alleviate the need for financial institutions to enter directly into an agreement with the US.Reciprocity The Agreement to Improve International Tax Compliance and to Implement the Foreign Account Tax Compliance Act between the US and South Africa is a reciprocal agreement, which ensures that financial institutions in South Africa will report information about US account holders to the South African Revenue Service (SARS). SARS will in turn relay that information, by means of automatic exchange of information to the US Internal Revenue Service under the Double Taxation Convention in force between the US and South Africa. The IRS will provide similar information about South African account holders in the United States to SARS. Source: SAnews.govlast_img read more

Even I am judgemental: AR Rahman

first_imgHaving composed and sung the rousing Marvel Anthem for Avengers: Endgame, music director and Oscar-winner A.R. Rahman talks about his inspiration and his reactions to criticism.Q. Marvel released your Marvel Anthem for Avengers: Endgame last week. What inspired ‘Roke Na Rukenge’?A. The energy of India’s youth is like ‘Roke na,Having composed and sung the rousing Marvel Anthem for Avengers: Endgame, music director and Oscar-winner A.R. Rahman talks about his inspiration and his reactions to criticism.Q. Marvel released your Marvel Anthem for Avengers: Endgame last week. What inspired ‘Roke Na Rukenge’?A. The energy of India’s youth is like ‘Roke na Rukenge’. I tried to tap into that with the emotion of the film, and then take it further. I found that both these were similar and unstoppable, come what may. We all need energisers, right?Q. What is your relationship with the Avengers? What do you think of the series?A. My son Ameen and nephew Kaashif got me hooked on to the Avengers series. It has become a part of world culture now.In our present times of adversity, cinema, sports and music are unifiers. I feel blessed that I’m a part of it.Q. There have been mixed responses to your Marvel Anthem. What is your mechanism to deal with criticism and compliments?A. Director Joe Russo and many others heard the song and they had amazing things to say about it. Some of them even teared up. Criticism is my obsessive lover; it has followed me since day one. People need an open mind when it comes to music and art. But even I’m not excluded from being judgemental. For me, music should trigger an emotional response and, for that, sometimes you need courage in making the sound raw and unpretentious.Q. At any given point, you are creating music that is meant for a national audience and for the international cinema as well. Is there a distinction between the kinds of music you create, or have those lines begun to blur?advertisementA. Yes, the line is blurred now. It’s based on whether I feel it or not.last_img read more

Messi and Argentina held by stubborn Uruguay

first_imgUruguay 0 Argentina 0: Suarez hobbles off in draw Sacha Pisani 09:05 9/1/17 LuisSuarez-cropped Getty Images Uruguay’s winless run extended to six matches after their 0-0 draw with Argentina as Luis Suarez limped off on Thursday. Luis Suarez appeared to aggravate a knee injury in Uruguay’s goalless draw at home to Argentina in CONMEBOL World Cup qualifying.Suarez was surprisingly included in Uruguay’s starting XI, despite being sidelined with a knee injury since Barcelona’s Supercopa de Espana second-leg loss to Real Madrid on August 16.Barca boss Ernesto Valverde and the LaLiga club were left sweating when Suarez dropped to the ground clutching his knee in pain with seven minutes remaining before hobbling off in Montevideo on Thursday. Article continues below Editors’ Picks Brazil, beware! Messi and Argentina out for revenge after Copa controversy Best player in MLS? Zlatan wasn’t even the best player in LA! ‘I’m getting better’ – Can Man Utd flop Fred save his Old Trafford career? Why Barcelona god Messi will never be worshipped in the same way in Argentina Argentina dominated proceedings at Estadio Centenario but they were unable to make their possession count in Jorge Sampaoli’s competitive debut as head coach after he replaced Edgardo Bauza in June.The draw saw third-placed Uruguay – winless in six matches – improve to 24 points after 15 matches, a point adrift of Colombia and a point ahead of Argentina.Uruguay were boosted by the inclusion of Suarez, who was not expected to play. There were also three changes to the team that lost 2-1 to Peru in the country’s previous qualifier in March as Martin Caceres, Gaston Silva and Nahitan Nandez came in for Jorge Fucile, Maximiliano Pereira and Carlos Sanchez.It was a first competitive outing as coach for Sampaoli following friendly victories over Singapore and Brazil in June. And Argentina’s line-up on Thursday was almost unrecognisable to the side who went down 2-0 to Bolivia in March’s qualifier, when Bauza was still in charge. Sergio Romero, Angel Di Maria and Guido Pizarro were the only players to feature that day as the likes of Lionel Messi, Paulo Dybala, Lucas Biglia and Nicolas Otamendi came into the XI. Inter captain Mauro Icardi also earned his second cap, having not featured since making his debut in 2013.The start of the match was relatively subdued, though Argentina enjoyed most of the possession without creating any real clear-cut opportunities against a Uruguay side desperate to end a run of five consecutive defeats.Argentina – who won the reverse fixture last year – continued to control possession but they were almost caught out by Suarez’s audacious long-range attempt from just inside the halfway line as the clock ticked past the 30-minute mark.Uruguay had the best opportunity of the match in the 37th minute when Edinson Cavani’s rebound was charged down by Romero, who struggled to deal with Cristian Rodriguez’s shot, while Biglia fired narrowly wide at the other end.Messi came to life as the first half drew to a close, linking up with Dybala before surging down the middle and forcing Fernando Muslera into a save.Tensions were high in the second half, though neither team appeared any closer to breaking the deadlock.Messi did go close to making the breakthrough – his lovely free-kick approaching the hour-mark forcing Muslera into a diving save as he pushed the ball away for a corner.The clash petered out to a draw, not before Suarez was forced from the pitch after appearing to re-injure his troublesome knee. read morelast_img read more

Motorcyclist killed in road crash

first_imgA motorcyclist was killed as a covered van hit his vehicle in Mansurabad area of Chattogram city early Sunday.The deceased is Md Mirza, reports UNB.The accident took place when the van hit the motorcycle in front of the regional passport office around 2:00am, leaving him critically injured, said Chittagong Medical College Hospital (CMCH) police outpost constable Amir Hossain.He was brought to the hospital where the duty doctors declared him dead, the constable added.last_img