Managers of Wealth Offshore

China is now enforcing offshore income tax. Should private bankers be worried?

“Offshore income has largely been ignored by the tax authorities, but, obviously, that is changing,” a Hong Kong-based wealth advisor told APB.

Minister sets out arguments against pension tax exemption

She said exempting the old-age pension was “unaffordable”, with an estimated cost of at least £21 million per year based on a 2022 assessment.

‘Tread carefully’ on taxing the rich, warns Wealth Club

Ultra-wealthy individuals might move abroad if the tax system in the UK becomes too burdensome

Tax defensive measures against non-cooperative jurisdictions

The latest developments related to the EU List and its impact.

Changes to UK inheritance tax laws could boost open market

Treasury analysis shows GST package would leave local households better off than income tax plan

Politicians are lining up alternatives, including a move led by Deputies Peter Roffey and former P&R President Peter Ferbrache to bring in the GST package that politicians rejected in February.

Corporate tax reform proposed over income tax rise

The island's senior political committee, Policy and Resources, has proposed a 2p in the pound hike in income tax for two years, which it said would ensure the future of its major projects portfolio.

Cryptocurrencies and digital assets holding strategies – tax considerations in Luxembourg

Cryptocurrencies introduce new concepts that challenge traditional tax norms.

Corporate income tax unlikely to affect Bermuda re/insurers

Bermuda is considered a reciprocal jurisdiction by the US National Association of Insurance Commissioners and has equivalency status under the European Union's Solvency II insurance capital regime.

Ultra wealthy to feel tax crunch on overseas gains

They added that some of the targeted Chinese had at least US$10 million (HK$78 million) in offshore assets

More than half of businesses concerned over increased taxation, survey shows

Both the Scottish and UK Governments will lay out their budgets in the next two months.

Less offshore secrecy is central to any boost from wealth taxes

A UK transparency levy would kick-start global efforts to make it harder to conceal business ownership and beneficiaries

KPMG launches 'global centre of excellence for island healthcare'

The centre will work with governments, regulators, payors, providers, non-government organisations and international development organisations across a wide range of island specific healthcare topics.

Taxing low value-added sectors

The resilience of our economy lies in its diversification

Tax havens continue to facilitate theft out of developing countries

We also reported that among the countries that vetoed the initial proposal in November 2023 – and lost to the majority who voted in favour of it – were the US, UK, and all EU member countries.

Bermuda's 15% corporate tax unlikely to impact re/insurance hub status – S&P

Bermuda's strong regulatory framework will retain re/insurance firms

Proposed income tax increases “won’t solve problems”

We need a more general tax reform.

IRS Whistleblowers' $74 Million Payout Shows Two Years of Reform

The IRS program for years has endured criticism about low payouts and rising process times.

P&R proposes temporary 2% income tax hike

The committee warned the affordability of its major projects portfolio would need to be reassessed if its budget was not approved by deputies.

Corporate tax will not affect island’s insurance standing

The 15 per cent tax will apply to multinational enterprises with revenues of €750 million (about $827 million) or more, with the first payments due to be made in 2025.