Managers of Wealth Offshore

Tax reform positive for US captives but mixed bag for offshore

The briefing sugguested that some parent companies are now considering alternative captive strategies because of the changes.

Govt. moves to protect Samoa from “dirty money”

The bill was tabled with a note of urgency from the Head of State.

ING Belgium accused of helping Russian oligarchs avoid tax

Strawman companies are registered in tax haven companies, but consist of nothing more than a postbox address.

New trust fund rules meant to crack down on tax evasion

Tough penalties will force those who don’t file to consider the consequences of staying in the shadows.

Barbados budget includes tax increases, repeal of national social responsibility levy

The budget would increase tax rates for both corporations and individuals

Swiss to exchange first country-by-country tax reports on multinationals

The Swiss government said it expects to send 109 country-by-country reports to 35 countries by the end of this month. The reports relate to the groups’ 2016 tax period.

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

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.

Clamping down on offshore financial centres would not raise tax revenue

As more investment capital is allocated across a diverse range of jurisdictions from investors around the world, the potential for multiple taxation increases.

How the world’s fastest man ended up owing $2.3M in taxes

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.

British overseas territories in talks to keep tax haven secrecy

UK plan to impose public registers of share ownership sparked protests and calls for constitutional separation

Cayman Islands financial institutions to face new CRS reporting thresholds, self-cert requirements

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.

Yanis Varoufakis: Ireland a tax haven ‘free-riding’ on Europe

Former Greek finance minister says Ireland remains deeply divided since crash

Bitfinex Begins Sharing User Tax Data With Regulators

Bitfinex has outlined a new KYC policy, in an email issued to a portion of its user.

Are foreign trusts still relevant for South Africans?

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.

Tax