Managers of Wealth Offshore

Common ground for Maltese MEPs as EU moves closer to tax harmonisation

What are Maltese MEPs saying about EU moves towards tax harmonisation?

New home for Saffery Champness in Manchester

The firm’s Manchester team, which provides tax and general advice and audit and accounting services to individuals and businesses across the North West, has seen substantial growth in recent years, with the combined total of partners and staff membe

Tax Blockers and US CLOS: Best Practice for Restructuring Distressed Assets

In line with prior downturns, over the last number of months we have seen a significant rise in the formation of 'tax blocker' subsidiaries for existing US CLO issuers with exposure to affected assets.

With the Netherlands cracking down on tax evasion, the UK risks increasing isolation

The British overseas territories which already feature at the top of the global tax haven rankings risk becoming even greater facilitators of tax avoidance now that they are no longer constrained by the EU’s Code of Conduct on Business Taxation.

Cayman Islands: Updates regarding DITC portal and CRS and FATCA compliance

The update advises that the CRS reporting functionality in the DITC portal has been re-enabled

Code of Conduct Group chair: EU tax list ‘not a tax haven list’

The Code of Conduct Group was created in 1998 as part of the political commitment of the EU member states to assess potentially harmful preferential tax regimes and to tackle harmful tax competition in the EU.

Apex launches Australian tax services

Follows launch of corporate solutions via Throgmorton Australia.

Users as digital assets: highlights from a tax perspective

Therefore, users are to be taken into account as important assets for enterprises, capable of driving and changing the taxation approach of various transactions.

Tax avoidance not a main purpose of transaction, says UK tribunal

It was originally envisaged that the consideration for the sale would be a mixture of cash and ordinary shares issued by the purchaser.

Investment trade body seeks abolition of taxes on UK funds

Call to reform asset management rules to ensure City remains competitive post-Brexit

No or only nominal tax jurisdictions carry out first annual information exchanges

The information to be exchanged relates to the identity, activities, and ownership chain of entities that are noncompliant with substance requirements or that engage in “high-risk” activities, such as activities relating to intellectual proper

Exchanges of information good news for tax administrations

GUERNSEY is among 12 jurisdictions to have begun exchanging information relating to businesses’ economic substance.

Beware the offshore tax crackdown

The offshore financial interests of millions of Britons have been handed to HMRC since 2018

Hong Kong proposes new rules enhancing deductibility of foreign tax

Under those circumstances, the taxpayer needed to rely either on the general provision for the deduction of expenditure or outgoings incurred in the production of assessable profits, as construed by decided authority on point.

JTC Asking the Experts: Buying a Yacht – What About Tax?

There are a number of questions that the well-advised owner of a yacht should be asking themselves when it comes to taxation, the fundamental of which is simply to consider how much they are being told about the taxes relating to what they are doing.

Google used ‘double-Irish’ to shift $75.4bn in profits out of Ireland

Company moved money in 2019, prior to it overhauling its global tax structure

Carlos Tevez seeks to avoid paying Argentina's new wealth tax

Boca Juniors striker files court injunction to avoid paying the country's new wealth tax, the latest example of the difficulty in making millionaires comply with the levy.

Bahamas And Caribbean Ceos Fear Tax Increases

Many observers in The Bahamas believe that the government, facing a projected $900m-plus deficit in the upcoming 2021-2022 budget year following a record $1.327bn of ‘red ink’ in this fiscal period, will be unable to address a national debt fo

New US proposals for reforming the international tax system

The Organisation for Economic Cooperation and Development has been working on proposals for addressing the tax challenges of the digitalisation of the economy for a number of years.

Luxembourg: Tax assessments: Pre-litigation and litigation procedures for corporate taxpayers

This article provides a brief overview of the key elements of the procedural framework for contesting decisions issued by the LTA, as applicable to corporate income tax, municipal business tax, and net wealth tax.