The below post was authored by guest blogger John Gabrielski.
Last weekend Greek voters shot down the terms included in the most recent aid package offered by the European Commission, European Central Bank (ECB), and International Monetary Fund (IMF).
A 61 percent majority of the financially burdened nation’s voters made it clear that, despite a banking system running short on cash and a missed bond payment to the IMF last week, they will stand by the Greek Far Left’s mandate to seek less onerous terms from its lenders.» Read More
If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, exceeding certain thresholds, the Bank Secrecy Act may require you to report the account yearly to the Department of Treasury by electronically filing a Financial Crimes Enforcement Network (FinCEN) 114, Report of Foreign Bank and Financial Accounts (FBAR).» Read More
Starting May 26, 2015, U.S. Citizenship and Immigration Services (USCIS) will temporarily suspend premium processing for all H-1B Extension of Stay petitions until July 27, 2015. During this time frame, petitioners will not be able to file Form I-907, Request for Premium Processing Service, for a Form I-129, Petition for a Nonimmigrant Worker, requesting an extension of the stay for an H-1B nonimmigrant. » Read More
In this week’s REWIND of international business news,
Food Giants Continue to Grow
Two European supermarket operating giants have announced that they have entered early-stage discussions about a merger. If combined, Ahold, the Dutch supermarket operator and owner of Stop & Shop and Giant grocery stores, and Delhaize Group, the Belgium based owner of Food Lion grocery stores, would constitute a 25.6 euro supermarket giant. » Read More
While India is yet to sign a final agreement with the United States for the Foreign Accounts Tax Compliance Act (FATCA), close to 1,000 Indian financial institutions and their overseas units are believed to have already registered with the United States tax authorities under this new regime. FATCA compliance had its genesis when the US Treasury initially announced in 2012 that it was engaged with more than 50 countries and jurisdictions around the world to improve international tax compliance and implement FATCA.» Read More