Managers of Wealth Offshore

Need for quick action on tax rules for environmental schemes

This follows an acknowledgment in the November Autumn Statement that responses to the consultation were being reviewed and that a further update was intended in Spring 2024.

Gozo 2% stamp duty tax scheme ending soon

It will end on December 31

Wealthy Spaniards “fleeing” to Portugal

It was on November 7th that the Spanish Constitutional Court gave the “green light” to the tax on large fortunes, which is levied on assets exceeding three million euros, with exemption for the first 700 thousand euros.

Insurers need to consider impact of proposed CIT regime on regulatory capital, says PwC

They should also consider the impact of the proposed CIT regime on insurers’ regulatory capital requirements and the effect on mergers and acquisitions and other transactions.

Mazars and FORVIS to form unique new top 10 global network

The network will operate under a single brand worldwide, Forvis Mazars

Draft Bermuda corporation tax bill made public

Concurrently, Bermuda’s Tax Reform Commission was formally announced on Friday to review and draft proposals to adjust existing taxes to lower the cost of living and working in Bermuda.

‘Demand for outsourced payroll services on the increase’

Farming out one’s payroll function makes sense

Tax cap on super wealthy won't be removed

An argument was also made that removing the tax cap would put high value individuals off moving to the island.

Apex Group enters Portuguese market with acquisition

Watermark will become a part of Apex Group’s existing global Corporate Solutions business.

Attempt to stop withdrawal of income tax allowance for higher earners

By 2019 the withdrawal threshold had been reduced to £100,000, further reducing to the current £90,000 limit at the start of 2023.

Bermuda Parliament to consider corporation tax

The Government also announced that the Bermuda Business Development Agency (BDA) will be restructured from a marketing/ development agency to an investment promotion agency.

PwC Channel Islands celebrates three awards for Sustainable Finance

This particular award stands as a testament to the dedication of PwC ChannelIslands’ experienced and dedicated Sustainability team.

Offshore non-compliance and HMRC's Worldwide Disclosure Facility – Traps for the unwary

This effort has been carried out in conjunction with an increase of direct requests to foreign tax authorities with respect to the affairs of UK tax residents, again significantly up as against the previous year.

Global tax report says 15% is not enough

They want to slap an annual tax on the world’s billionaires equivalent to two per cent of their wealth.

Should the Lieutenant-Governor pay tax?

In 2023, having regard to principles of tax equity, it is not justifiable that a senior public servant resident in the island should be exempt from income tax,” they said.

Global tax talks going ‘calmly’ and without ‘distress’ – chamber

In a recent statement, David Burt, the Premier and finance minister, said that although the global tax regime could present an opportunity to increase income, it was not government policy to significantly increase overall revenue.

EU report highlights benefits, flaws of global minimum corporate tax

A new body of evidence shows that multinational companies shift a large amount of profits to tax havens.

Billionaires should face a minimum tax rate, report says

There are around 2,500 billionaires with a combined wealth of $13 trillion.

Territorial tax plans scrapped again

The Policy and Resources (P&R) Committee has published plans to raise around £15m from businesses through changes to corporate tax.

20% income tax rate saved

With the island facing a growing financial deficit - predicted to reach £100million by the end of this year