Managers of Wealth Offshore

International tax announcement expected

The organisation has published a statement of near-term desired outcomes, with the text of a multilateral convention needing just a few technical points to be resolved.

KPMG celebrates 40 years in the Isle of Man

The firm has also supported hundreds of Isle of Man students to achieve professional qualifications and pursue their careers locally and further afield.

Changes to IHT rules will impact APR and woodland relief

Agricultural Property Relief (APR) and woodland relief were extended to property located within the EEA in 2009 to ensure compatibility with EU law.

Has the crackdown on global tax dodging failed?

The U.S. loses around $176 billion a year to tax havens,“ said Mark Bou Mansour, TJN’s head of communications.

Cayman Islands exceed annual revenue target in six months

This means the level of revenue anticipated for the full year has already been collected within the first 6 months.

Half of Foreign Assets Held in Tax Havens, New Research Estimates

Foreign banks are obligated to report U.S. owned accounts to the IRS, which also extends to foreign financial income and assets.

Baker Tilly named accounting Network of the Year

This award reflects the contribution and commitment by every member firm to providing both exceptional client service and an environment

E-tax filing deadline now Thursday

The e-tax filing deadline for the second quarter of the year has been extended until Thursday

June revenue declines amidst tax payment extension

During the same period last yar, the government had collected a total of MVR 1.6 billion in taxes.

UK government offers amnesty to tax evaders named in Pandora Papers

Those who do not fully cooperate or fail to come forward face 200 percent penalties and potential jail time: it’s a heady incentive to come clean.

Bahamas to tax international businesses on foreign earnings

Business representatives in the country have told the local press that this could be the first step towards a full-fledged corporate income tax, though they say that could take a number of years.

Tax adviser to star DJs and models arrested for alleged $100 million tax evasion scam

Federal prosecutors in the U.S. say the scheme helped obscure over $100 million in revenue that would have been subject to U.S. tax in years where Butselaar's clients did extensive work in the United States.

Baker Tilly International named accounting Network of the Year

This award reflects the contribution and commitment by every member

‘Nothing to lose’ on 5% corporate tax

One potential complication for Mr Moss’ proposal is that The Bahamas is one of 140 nations that has already signed on to comply with the G-20/OECD initiative

Inland Revenue must be a ‘well oiled machine’ for corporate tax

Some accountants have suggested these demands are overly burdensome

UK Patent Box

Companies can benefit from an effective 10% corporation tax rate on relevant taxable profits arising from patented technology, medicinal and botanic innovation rights.

Income tax revenue eats away at deficit, as national debt tops €9 billion

NSO figures show 72% deficit drop in May when compared to 2022

'Most Bahamians can't evade their tax liability'

Raising the cap on real property tax affects owners of multi-million-dollar properties – which again, does not include most Bahamians.

Switzerland and France sign an additional agreement supplementing the bilateral double taxation agreement

The additional agreement also updates other provisions in the double taxation agreement between Switzerland and France.

Taxation of Luxembourg Reverse Hybrid Entities: Initial Administrative Circular and Compliance Guideline (Form 205)

Additional administrative guidelines are anticipated, particularly regarding the collective investment vehicle exemption and the hybrid mismatch rules.