08/31/2022
Gov’t’s ‘precarious finances’ rule out tax offset to inflation
Mr Edwards pointed to the Government’s “difficulty in giving up taxes at this time” due to its own deficit and debt pressures
Tax
08/31/2022
Our tax system is in urgent need of an overhaul
Tax rules are stacked in favour of the rich and unless there is meaningful change we could be heading for disaster
08/29/2022
Is ATAD III on your radar?
Known as ATAD III, the draft Directive is aimed at EU-resident entities, including SMEs, partnerships, trusts and other legal arrangements which claim benefits under double tax treaties
08/26/2022
UK tax authority focuses efforts on offshore corporates owning UK property
HMRC has previously noted that taxpayers are not legally obliged to return the certificate, which could expose them to criminal prosecution if they make an incorrect declaration.
08/26/2022
Aviation: Finance & Leasing Guide 2022
Title is invariably transferred by way of bill of sale, and there are no specific formalities under Cayman Islands law.
08/26/2022
Luxembourg's double tax treaties network
To mitigate the risks of double taxation for businesses, it has entered into comprehensive double tax treaties with over 80 jurisdictions.
08/25/2022
Opposition slams Davis administration for tax raise via increased fees on government services plan
In an accompanying paper, dated March 2022, it was noted that the revenue impact of the initiative could be $90 million in the coming year with an implementation timeline of 12 months.
08/25/2022
Offshore Tax Loophole Helps Americans Cheat IRS, Senate Says
The law requires banks around the world to report assets and accounts of US clients to the IRS, but wealthy Americans have figured out a way to sidestep the rule and draw less scrutiny from the banks.
08/19/2022
Robert Frederick Smith: Billionaire used biz funds to buy GF an apartment, and luxury mansions
Smith has already admitted to illegally hiding millions of dollars from the Internal Revenue Services in offshore tax havens
08/15/2022
The UK's offshore tax havens are quietly luring investors away from the likes of the Cayman Islands and Bermuda this 'crypto winter'
UK tax haven islands Jersey and Guernsey are stepping up their efforts to attract crypto and blockchain investors.
08/12/2022
More time: Halkitis says gov’t not averse to transitional period for insurance VAT-related reforms
Our objective is to always do things smoothly and cause minimal disruption.” Halkitis noted that the rules which the Davis administration decided to bring into effect at the start of the new fiscal year were drafted back in 2020.
08/12/2022
The corporate minimum tax could hit these ultra-profitable companies
Companies can still use carve-outs for research and development, investment expenses and others to lower their tax bills.
08/11/2022
Maltese woman places second worldwide in ACCA accountancy exams
Maria Sciberras beats thousands of students in global exam round
08/08/2022
Cayman Islands Enforcement Guidelines: Common Reporting Standard and Economic Substance
The Guidelines set out the TIA’s principles and processes for taking enforcement action through administrative penalties for non-compliance under the CRS and the ES regimes.
08/08/2022
EY’s Rahul Kini named ‘Rising star in digital’
The awards have become a staple in the finance calendar, with more than 50,000 votes being cast by members of the public to determine the winners.
08/08/2022
17 Islands That are Popular Tax Havens for the Wealthy
Many smaller island nations turned themselves into tax havens for that very reason.
08/08/2022
Offshore tax amnesty not for bringing black money: NBR chairman
"No opportunity was given to bring black money from the country through this," said National Board of Revenue Chairman Abu Hena Md Rahmatul Muneem
08/05/2022
Proposed changes to Hong Kong’s offshore regime for passive income
Subject to the completion of the legislative process, the changes will take effect from January 1 2023 with no grandfathering arrangement and apply to multinational enterprise groups only.
07/28/2022
IRS Warns Taxpayers Against Tax Avoidance Strategies
IRS acknowledges that the evolvement of digital technology across the world
07/28/2022
Royal Bank ordered to reveal who's behind 97 offshore accounts
CRA won't say why it's taken 6 years to pursue companies named in 2016 leak