Managers of Wealth Offshore

Insurers to consider marijuana position

For recreational use of the drug, Government said a referendum would have to be taken among the population.

International community agrees on a road map for resolving the tax challenges arising from digitalisation of the economy

The 129 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) adopted a Programme of Work laying out a process for reaching a new global agreement for taxing multinational enterprises.

Bahamas to give tax residency certificates to permanent residents

The OECD has suggested that residence-by-investment schemes could "offer a back door to money launderers and tax evaders" by circumventing the Common Reporting Standard

One in three tax advisers unregulated by professional bodies

Although HMRC has no regulatory powers over tax agents, a catch-all which includes accountants, bookkeepers and tax advisers, the government strongly recommends that tax agents adhere to the Professional Conduct in Relation to Taxation

New framework for funds recognition established by Dutch and Hong Kong regulators

“The new arrangements will lead to smoother operations in areas such as information exchange, regulatory cooperation and ultimately the authorisation of funds,” said ZEDRA Hong Kong Managing Director, John Ashwood.

Bahamas Central Bank Targets 2020 Launch for Its Digital Currency

The central bank has yet to announce on which Family Islands the pilot program will be run

Pensions Board makes Brac presence official

All PSPB Cayman Brac members are invited to the opening “to learn about their available on-island supports and provide input to the PSPB on how to continue to expand services and supports”, stated the release.

NGO blames territories for tax system failure

The Corporate Tax Haven Index ranks countries by their “complicity in global corporate tax havenry”, the tax advocates say.

Regulating the regulators: the importance of public law

For almost all company decisions, the decision-maker is governed by a simple requirement, that they have to act in the best interests of the company.

IRS Summons for Law Firm Client Data Is Enforceable

The IRS had previously examined an unidentified client of the Lohmeyer Law Firm, who admitted to failing to report $5 million in income in an undeclared offshore account.

Latest Developments in relation to the Market Abuse Regulation

ESMA has been asked to provide its contributions by no later than 31 December 2019.

RISA Bahamas to host Insolvency Roundtable – Legislative Reform

This event will bring together RISA Bahamas members and other experts in order to meet, discuss and learn in the company of experienced practitioners.

Ogier’s At a Glance Guide to BVI Wills for non-doms

BVI law distinguishes between movable or personal assets and immovable or real estate assets.

11 Indians get notices in a day as Switzerland steps up process to share banking information

In April also, some such notices were issued including to one Mrs. J N V, as also to Mr. Kuldip Singh Dhingra and Anil Bhardwaj, among others.

Mauritius amends country-by-country reporting rules to add penalties for noncompliance

Reasonable ground, in this case, does not include failure to carry out an act either due to insufficiency of funds or reliance upon another person, the new guidance states.

India-Marshall Islands tax information exchange agreement enters into effect

This information generally relates to the determination, assessment, and collection of taxes; the recovery and enforcement of tax claims; and investigations, including prosecutions.

Deadline approaches following amendments to Bermuda's funds regime

The amendments were adopted under the Economic Substance Act 2018

The Final Chapter? Winding Up The Z III Trust

In the latest instalment, all parties agreed that the Z III Trust should be wound up

EU removes Bermuda from 'blacklist' of non-cooperative tax jurisdictions

Premier Burt and finance minister Curtis Dickinson explained to European tax officials the reasons for which there was a technical omission in its Economic Substance Regulations submission

Barbados drops visa requirements for these 8 African countries

The new implementation affects countries including Cameroon, Ethiopia, Liberia, Morocco, Senegal, Rwanda, Burkina Faso and Ghana from which Barbados receives a lot of visitors and has several ties.

Regulation, Risk & Compliance