06/18/2018
Offshore funds want relaxed rules, tax sops to trade in Gift City
Offshore funds also want simpler customer identification norms that can protect client confidentiality
06/18/2018
Shell facing €7bn bill for ‘anti-competitive’ tax avoidance deal
The deal dates back to 2005, when Shell, previously an Anglo-Dutch concern, merged its two branches to establish a single headquarters in The Hague.
06/14/2018
As more investment capital is allocated across a diverse range of jurisdictions from investors around the world, the potential for multiple taxation increases.
06/13/2018
Under the tax scheme, clients shuttled millions of dollars offshore through a colourful cast of characters, including a Bahamas-based businessman later accused of stealing $20 million, and his former partner, who was shot outside his office.
06/13/2018
UK plan to impose public registers of share ownership sparked protests and calls for constitutional separation
06/13/2018
A Cayman financial institution is required to determine the residence of not only its direct account holders but also, in the case of passive non-financial entities (NFEs), the residence of the ‘controlling persons’ of the entity.
06/12/2018
Former Greek finance minister says Ireland remains deeply divided since crash
06/12/2018
Bitfinex has outlined a new KYC policy, in an email issued to a portion of its user.
06/11/2018
More specifically, with the implementation on March 1 2017 of Section 7C of the Income Tax Act, which addresses low or no interest loans to trusts, the 2018 tax year marks the first year where South African taxpayers are subject to a Section 7C liability.
06/11/2018
Not signing MATM means Tanzania is not obliged to providing financial information on companies or individuals with funds in Tanzanian banks and financial institutions.
06/11/2018
For those with extensive offshore arrangements, it is particularly important to review these to make sure that they remain compliant.
06/08/2018
Report traces nearly 30% of investments in Scottish schemes to offshore firms
06/08/2018
With global accountability the ‘new normal’, it’s more important than ever to understand your tax compliance obligations in Luxembourg.
06/08/2018
The Scottish Government accepted that it wasn’t possible to prevent offshoring “in the current open market economy” but pointed out that all SFT projects paid relevant UK taxes.
06/08/2018
But, and as we all know, mistakes happen and the current legislation allows a 4, 6 and 20 window for HMRC to reopen tax returns.
06/08/2018
Client requests have reportedly led Ansbacher to outsource a better and seamless tax reporting practice.
06/06/2018
$12 trillion ‘phantom’ corporate investment – it’s not just about tax avoidance by George Bull
Using the latest transparency data, a report from the International Monetary Fund estimates that multinational corporations have invested $12 trillion in empty shell companies. On top of that, around $7 trillion of personal wealth is held in tax havens. W
06/06/2018
HMRC tax evasion investigations up by 20%
In 2015, HMRC was looking at 2,972 cases, which increased to 3,216 in2016-17 and 3,809 in 2017-18 – an 18% year-on-year increase.
06/05/2018
Scrapping inheritance tax won’t make divorce easier
Proposals consider being able to gift up to £125,000 per person as a lifetime gift without payment of tax.
06/01/2018
If the US does not comply with the OECD Common Reporting Standard by June next year it faces being placed on the EU blacklist for non-cooperative jurisdictions, an EU top official has warned.