Managers of Wealth Offshore

Japan to tighten tax rules on wealthy people

Under the current rules, the government has obliged domestic residents to declare the types and amounts of their overseas assets if they total more than 50 million yen.

Grand Bahama and the Abacos tax free, VAT-free

VAT on fuel for generators in areas still without electricity will also be VAT-free.

Malta’s tax burden on the economy is sixth lowest in EU

The tax-to-GDP ratio for Malta stood at 32.7% in 2018, Eurostat figures show

Tax evasion issues continue in Malta

Part of the trouble with enforcing tax legislation comes from the increasing speed of the global economy.

Amendment to new France-Luxembourg treaty clarifies elimination of double taxation

For Luxembourg tax residents, there would be no change and foreign employment income would continue to be exempt with progression

Grant Thornton To Merge With Baker Tilly Gomez

What we decided to do over the last nine months to a year is determined that it would probably be best to join the forces of about 60 staff members with four partners.

The OECD sets its sights on reforming global corporate tax practices

The OECD has publicly stated that they want to reach an agreement that member countries can back unanimously.

OECD proposals will shift taxable profits away from tax havens and back to customer countries by George Bull

The OECD has published new proposals for taxing international consumer-facing businesses.

EU Council Confirms Mauritius as Compliant with EU Tax good Governance Principles

On 10 October 2019, the Economic and Financial Affairs Council of the European Union (EU Council) confirmed that Mauritius complied with the good governance tax principles of the European Union (EU).

Rich Russians Demand New Tax Breaks

Business owners want a European-style tax system.

UK government pays millions to firms that use tax havens

Report from thinktank Demos finds that 24 out of 35 ‘strategic suppliers’ operate in offshore jurisdictions

Maltese offshore wealth estimated at around €5.2 billion

The estimated offshore wealth doubled from €2.3 billion to €5.2 billion between 2011 and 2016

Italy unveils new landmark tax on internet giants

The new tax would be applied to companies with sales of over 750 million euros, of which at least 5.5 million euros come from services provided in Italy, according to Italian media reports.

Jersey: Changes to company tax return form announcedd

In practice, many companies, particularly those that are taxed at the 0% rate and are not impacted by the economic substance requirements, should find the information to be provided broadly in line with that required to be reported in prior years.

HMRC loses inheritance tax case against Jersey trust

HMRC said if the trust was based in the UK and governed by UK law it would be exempt from inheritance tax, but as the trust Ms Coulter chose was Jersey-based it did not qualify for this exemption.

Luxembourg 2020 budget bill: tax rulings issued before 2015 expire

Although the bill needs to go through the usual legislative process and the final law remains to be seen, this particular measure is likely to be adopted.

As a tax neutral jurisdiction, The Bahamas is an ideal place for financial services

This level of importance is indicated by the responsiveness of the legislature and regulators to the needs and demands of the market, as well as the swiftness with which these processes can take place.

Switzerland: Swiss-US double tax treaty protocol enters into force

Brandi Caruso and Robin King of Deloitte summarise the notable changes introduced under the recently ratified 2009 protocol to the Swiss-US double tax treaty.

Barcelona and Real Madrid risk future with Spain tax issues

Bumper contracts worth a lot of money are offered and the players come to Spain to enjoy the time of their lives in every sense.

EU has 'whitewashed' Switzerland, one of the 'world's most harmful tax havens' - Oxfam

The Marshall Islands has also been removed from the blacklist, which still includes nine extra-EU jurisdictions - mostly Pacific islands with few financial relations with the EU.