Managers of Wealth Offshore

NOT ON OUR AGENDA: Halkitis says personal income tax not under consideration

The IMF recognized the challenges associated with introducing corporate and personal income tax systems in The Bahamas, given the absence of a historical tax framework.

St. Kitts and Nevis Inland Revenue Department modernises its tax administration system with the launch of ‘SMARTS’

SMARTS is being administered through the My Government Portal, which essentially serves as a central hub.

Finance minister rules out tax cuts sought by business associations

Businesses need to look outward, he insists

Unveiling Tax Realities: Debunking Myths about the British Virgin Islands

To comply with FATCA, a British Virgin Islands foreign financial institution is required to report information on U.S. taxpayers’ accounts to the IRS.

Guernsey income tax increase proposals likely

Experts have warned Guernsey is on an "unsustainable" financial path and reform to the island's tax system or spending cuts are needed.

RenRe and Chubb record deferred tax benefits ahead of Bermuda corporate income tax

The act will also require the Company to reverse certain transaction related purchase accounting adjustments

'Breach of trust': New controversy rocks Monaco royals as former wealth manager claims tax fraud

The new controversy erupted after French newspaper Le Monde last week published the allegations

Bermuda tax benefit lifts Chubb to record profits

For the full year, net income and core operating income were $9.03 billion and $9.34 billion, respectively, up 72.1 per cent and 45.2 per cent, and included the tax benefit.

Tax havens could lose 30% of tax base under GMT

By implementing the GMT, a jurisdiction can claim the minimum tax on profit in that jurisdiction.

Axis strengthens prior year reserves by $425m

The company said the strengthening was attributable to both its insurance and reinsurance segments in liability lines and professional lines predominantly related to 2019 and older accident years.

Benefits of Bermuda domicile will endure despite corporate tax

Fitch said the tax was in response to the 15 per cent global minimum tax rate under Pillar Two of the OECD Global Anti-Base Erosion Rules introduced in 2021.

Tax-free COLA ‘more effective’ way to mitigate inflation – employers

Chamber of SMEs says it was unfair to single out the food sector

Senior accountant urges government caution amidst growing taxation concerns

Both the Bahamas Chamber of Commerce and Employers Confederation and the Bahamas Institute of Chartered Accountants have urged the government to push back the April 2024 deadline for that requirement another 12 months.

‘No reason to panic yet’ on 91% deficit

Pointing out that the cyclical nature of the Government’s revenues makes it impossible to estimate the full-year Budget outcome on just a few months’ data

TMF Group expands its presence in Romania with Contexpert acquisition

The acquisition marks another milestone for TMF Group

Audit or independent examination?

This has inevitable implications for the costs of the work and therefore the fees charged to the charity.

Consultation on new Sark taxes approved

Proposals to change the rates of personal tax will be part of the consultation.

Bermuda gazettes Corporate Income Tax Act

The Government has introduced certain tax credits to support Bermuda’s economic goals and maintain the global attractiveness of the jurisdiction.

The UN’s new role in international tax cooperation

While it is not immediately obvious how the UN would be more adept at creating a new international tax framework, it appears inevitable that negotiations will shift to the global intergovernmental organisation.

Luxembourg: new VAT rules on directors' fees

To address these two core questions concerning the VAT Directive's interpretation, the CJEU provided the following reasoning.