Managers of Wealth Offshore

At a glance – the Indonesia Tax Amnesty - Withers

The long-awaited Indonesia's tax amnesty bill was finally passed by the parliament on Tuesday, 28 June 2016.

Offshore Tax Bulletin - Deloitte

Welcome to Junes 2016 edition of Deloitte’s Offshore Tax Bulletin, which provides a round-up of local and international tax issues relevant to the Isle of Man, Guernsey and Jersey businesses and individuals.

Israel Tax Authority extends voluntary disclosure deadline

The Ministry of Justice's authorization for the Tax Authority to extend the voluntary disclosure proceeding was granted at the last minute before the previous deadline.

Samoa's prime minister defends country's role as offshore tax haven

The Panama Papers revealed Samoa, which is situated halfway between New Zealand and Hawaii, as a key player in offshore financing.

SEC Allows Big Banks to Fudge the Numbers, Underreport Tax Haven Subsidiaries

The companies analyzed include banking and financial services giants such as J.P. Morgan Chase, Wells Fargo, Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley.

OECD anti-tax avoidance efforts gain traction at Kyoto meeting

The BEPS Project delivers solutions for governments to close the gaps in existing international rules that allow corporate profits to "disappear" or be artificially shifted to low or no tax environments, where companies have little or no economi

New Corporate Criminal and Civil Offences for failing to prevent the facilitation of Tax evasion - Deloitte

The UK Government is looking to introduce new Criminal and Civil Offences targeted at businesses involved in tax evasion. The measures are intended to address a perceived inability to effectively prosecute UK led businesses whose staff facilitate tax evas

EU agrees on tax avoidance measures aimed at multinationals

Once implemented, the legislation will put an end to the most common loopholes and aggressive tax planning schemes.

Finance firm says Britain can remain competitive

In its statement, Deloitte said: ‘While the UK has opted for a future outside the EU, Britain remains a competitive, innovative and highly-skilled economy and an attractive place for business.'

Ottawa should name and shame offshore tax cheats: Editorial

The Canada Revenue Agency should stop protecting the privacy of offshore tax avoiders, and start protecting the integrity of the tax system.

Indonesia's parliament set to pass new tax amnesty law next week

A government official involved in the deliberations confirmed with The Straits Times that under the tax amnesty law, the government will tax these assets held by individuals or companies

Tax efficiency no longer primary driver for offshore investment

This was followed by tax efficiency (23.2 per cent) and better investment returns offshore (21.9 per cent).

Tax Efficiency Drives Less than a Quarter of High Net Worth Offshore Investment, says Verdict Financial.

The company’s latest report states that wealth managers need to gain a deeper understanding of the drivers that are prompting HNW investors to look for new places to store their fortunes.

Council Of The EU Agrees Directive On Tax Avoidance

The directive, part of a January 2016 package of Commission proposals to strengthen rules against corporate tax avoidance, builds on 2015 OECD recommendations to address tax base erosion and profit shifting (BEPS).

Death & Taxes: IRS Begins Procuring Offshore Client Accounts, Records from UBS

In what could be a significant development moving forward, UBS has provided the IRS with tax records and offshore accounts.

EU struggles to close tax loopholes with new law

The commission highlighted that the deal had been reached in record time.

Aviation Attorney ‘Turned Clients Away’ Over Tax Uncertainty

While the Bahamas already possesses an aircraft registry, it barely registers as a blip on the radar screens of the international aviation industry and potential clients when compared to the likes of Bermuda and the Isle of Man.

Macri says 'did not even realize' he had $18m in Bahamas

In 2017, we will grow again. After five years, growing again is vital,” he said.

The heavenly haven: Alderney has low tax and no crime - and you don't have to be a millionaire to live there

In Jersey, anyone but essential workers needs £625,000 salary to move in

How Canada got into bed with tax havens

1980 treaty with tiny Barbados paved way for billions to legally flow offshore