Managers of Wealth Offshore

Overwhelming MEP vote for action on tax evasion after Pandora Papers

MEPs deplored the fact that following the Pandora Papers revelations, the Council of EU Finance Ministers decided to shorten the EU list of tax havens

United States: Challenges expected in US implementation of OECD agreement on global tax reform

While this agreement is a key milestone in the process, there is still a great deal of technical work ahead, and implementation of the agreement—targeted for 2023—will have its own challenges, including in the US.

Fitch On Bermuda, 15% Global Tax Rate & More

Solvency II equivalence and reciprocal jurisdiction status in the U.S. Bermuda is a member of the OECD Inclusive Framework

Who will be affected by the move to independent taxation?

Additionally, for those whose tax bill would be higher under independent taxation, a new compensatory allowance would also be introduced to make sure couples will not be worse off by moving to independent taxation.

Bermuda warned over tax status squeeze for reinsurers

Bermuda is a member of the OECD Inclusive Framework and joined the OECD statement in July 2021 as it seeks to be an active participant in shaping the final details of the BEPS plan.

Fears for TIEAs: mutual exchange agreements want to rule the offshore world

This article considers how courts have approached TIEA requests in three offshore jurisdictions.

Will the global corporate tax deal really level the playing field?

MT Asks: Global leaders have agreed on a minimum corporate tax rate, but how will it actually affect business leaders?

UK Outlines Beneficial tax treatmen for Asset Holding Companies

Indicative of the potential for greater flexibility in its post-Brexit economic policy, the UK government has affirmed its commitment to implementing a competitive new regime, addressing the domestic tax challenges faced by managers forming intermediate e

Global tax deal approval ‘to take at least a year’, says president

Switzerland will need at least a year to gain domestic approval for new tax measures to conform with a 15% global minimum corporate tax rate, according to Guy Parmelin, who holds the rotating Swiss presidency this year.

El Salvador: Updated edition of guide on treatment of tax havens published for 2022 fiscal year

The new guide includes a total of 95 countries, states, or territories on the low taxation and zero taxation lists, a net increase of four jurisdictions with respect to the previous fiscal year.

Tax Review

The Tax Review is being led by members of the Policy & Resources Committee and the Committee for Employment & Social Security, who form the Tax Review Steering Group.

Coronavirus, tax and the owners of Furnished Holiday Lets

The main difference with FHLs when compared to standard residential lettings is that they are treated as a trade for certain tax purposes.

Isle of Man 'well-placed' to adapt to G20 global tax reforms

It would enforce a corporate tax rate of at least 15% on big firms in the countries where they do business.

Switzerland Hands over Account Information

The FTA sent information on around 3.3 million financial accounts to the partner states and received information on around 2.1 financial accounts from them.

Jersey welcomes greater certainty on OECD new global tax rules

Jersey is one of 136 jurisdictions that joined the consensus on the revised framework.

Of Offshore Holdings And Tax Avoidance

Even the ICIJ hasn’t been able to ascertain whether the assets detailed in the Pandora Papers are declared or not

Exchange of information with 96 countries on around 3.3 million financial accounts

The legal basis for the implementation of the AEOI in Switzerland came into force on 1 January 2017.

Switzerland calls for legal certainty in the implementation of the key parameters in international corporate taxation

This measure benefits countries like Switzerland with a comparatively long legislative process.

Global tax deal inches closer as holdout Ireland agrees to sign up

The G-7 and G-20 nations agreed earlier this summer to join forces to tackle tax evasion and harmonize rules across the globe.

EU must step up its game against harmful tax practices, says Parliament

The governance would also need to be reformed to make decisions binding and the decision-making process more transparent and efficient.