Managers of Wealth Offshore

Financial firms in Singapore must now establish tax residency status of customers: Iras

It aims to enhance tax transparency to detect and deter tax evasion through the use of offshore bank accounts.

Amended tax treaty with the Isle of Man comes into force

The amendments concern a reciprocal agreement with the Isle of Man relating to the European Union Directive.

Will 2017 be the year the world got serious about bank account secrecy?

The OECD recently announced that there are 1300 relationships in place for the automatic exchange of account information between countries.

Switzerland: Regularization Of Undisclosed Assets In Switzerland And South Africa – Transparency On The Horizon

Switzerland will exchange information from 2018, meaning that Swiss banks will be obliged to com- mence compiling financial information about the captured accounts as from the beginning of 2017.

New Filing Requirements for Foreign-Owned Disregarded Entities

Attempt to combat offshore tax evasion.

Penalties for lawyers who enable tax evasion come into force

The UK is one of the first countries in the world to introduce this power, which was originally announced at Budget 2015 and legislated for in the Finance Bill 2016.

Panama looks to talks with France to get off tax haven list

Panama's president, Juan Carlos Varela, in November warned France of reprisals if his country was maintained on the blacklist.

Colombia’s tax reform fails to tackle tax evasion: chief prosecutor

Colombia’s lawmakers approved the bill last week

Accountants face tough new penalties in tax crackdown

The new law means that for the first time, HMRC will be able to charge civil penalties on the facilitators of tax evasion, who provide planning, advice or other professional services or physically move funds offshore.

Offshore myth: How Africa lost $1 trillion to tax havens

The modern offshore business world appears pure Potemkin everywhere and nowhere.

German Government Targets Offshore Tax Avoidance

The bill also standardizes reporting obligations for direct and indirect holdings in foreign entities and synchronizes the deadline for information reporting with the deadline for tax returns.

Advisers who help tax evasion face fresh fines

The powers were announced in the 2015 Budget and have come into force this year.

Other small islands face debt struggles too

Financial advisers warned that the liability, attributed to the civil service defined benefit retirement system, could have caused the entire plan to collapse by 2024 if not addressed.

Fears as Scotland ‘tax haven’ adverts expand

The UK Government has signalled that at the very least it will consider bringing SLPs into a regime that, in theory, forces most other companies to declare who their ultimate beneficial owners are.

Jean-Claude Juncker blocked EU curbs on tax avoidance, cables show

Leaked papers reveal that as Luxembourg’s PM, the European commission president obstructed the bloc’s tax reforms efforts

HMRC empowered to name and shame tax evasion 'enablers'

Treasury says individuals or corporations who take deliberate action to help others evade paying tax face steep fines

US, Argentina Agree To Exchange Tax Information

It has been previously disclosed that, through the TIEA, the Argentine Government is hoping to reduce the estimated USD400bn in undeclared overseas assets held by Argentine residents. Its current tax amnesty, which entered into force in July this year, pr

Tax