Managers of Wealth Offshore

Business group criticised for intervention on tax

Currently finance businesses pay 10% tax on their profits, while other companies pay no corporate income tax.

Cayman National Bank shares offer called ‘inadequate’ by KPMG

Cayman National added in a directors’ circular to affected shareholders, “While the offer price offers certainty, it is arguably not compelling.”

Gov't eyes completion of tax residency certificate

This certificate will enable expatriate residents and investors to prove that they are resident in the Commonwealth of The Bahamas.

Wealth advisers helping tax evasion face fresh fines

Advisers who help clients evade tax will face fines under rules that have come into force from 01 January this year.

French authorities search SocGen's offices in tax fraud investigation

This investigation is separate from the so-called "cum-ex" dividend stripping probe involving SocGen, the source said.

FNM to slash yacht tax rate 'highest in Caribbean-Atlantic'

The roll-out provided no clear path for foreign-flagged yachts to obtain a Bahamian VAT number.

Measures to combat offshore tax evasion

The Central Board of Direct Taxes (CBDT) regularly undertakes a systematic review of data so received and identifies taxpayers, whose cases require further verification.

HMRC AI and tech to support plan to collect extra £500m tax from most wealthy

HMRC’s director general of compliance Penny Ciniewicz reinforced the department’s commitment that “over the next few years, we are looking to invest in our risking and our data – because the risking only works off the data”.

Next States likely to revisit plans for GST-plus

The GST-Plus package of tax reforms includes a 5% GST

Tax revenues from financial sector rise nearly 20 percent

The report also revealed that the total number of banks and trust companies licensed in The Bahamas declined by five to 192 in 2024

Realtors compared to ‘plane in holding pattern’ on VAT move

Two key reforms to the VAT Act have aroused realtor fears as they make the profession “jointly and severally liable”

Grant Thornton multinational platform to expand to include the Channel Islands, Switzerland and Liechtenstein

The expanded platform will continue to be part of the Grant Thornton International Limited network

US Taxpayers and Expatriates May Need to File Offshore Disclosures and FBARs

The IRS issued a strong warning to those with offshore bank accounts, investments, assets, and foreign corporations or trusts

Reclaiming tax sovereignty to transform global climate finance

This ability, tax sovereignty, has been weakened both by global rules that favour profit shifting and by domestic policies shaped by those who benefit most from the status quo.

Brazil ends crypto tax exemption, imposes 17.5% flat rate on gains

Brazil scraps crypto tax exemption for small traders, enforces flat 17.5% rate across all gains, including self-custody and offshore holdings.

Full automation needed for NBR to implement simpler tax refund process

A tax refund arises when a taxpayer has paid more tax than their actual liability for a given fiscal year.

Corporate income tax not a US target, says head of CITA

New rules set out in Section 899 of US president Donald Trump’s One Big Beautiful Bill are designed to target countries aligned with the OECD plan t

Thousands of families face Inheritance Tax probe as HMRC cracks down

The number of probes has risen by more than a third in just a year

Opposition MP hits ‘desperation’ over $100m VAT evasion

This is designed to ensure all Bahamas-based land, property and real estate sales are swiftly reported to the Department of Inland Revenue in the Government’s latest bid to crack down on what it alleges to be significant avoidance, and evasion, of V

‘It is not possible’: Cyprus powerless to claim Abramovich’s €14m tax bill

At the heart of the arrangement was Blue Ocean Yacht Management, a Cyprus-registered company ultimately belonging to Abramovich, which was first flagged to tax authorities in 2012.