Managers of Wealth Offshore

UK To Clamp Down On Non- Disclosure Jurisdictions

Investors who move money to non-disclosure jurisdictions will be kept in check by new rules from the UK tax authorities, which plan to make it a criminal offence to evade offshore tax.

HMRC removes some advantages of voluntary disclosure - Withers

The original purpose of the LDF when it was launched back in 2009 was to allow individuals with assets in Liechtenstein and undisclosed tax liabilities to settle those liabilities with HMRC on exceptionally advantageous terms.

Expat campaign over banking rules

UK expats are being encouraged to write to the Competition and Markets Authority over their treatment by onshore banks, which are refusing to allow them to open accounts – or switch existing accounts to those offering better rates.

Osborne goes after offshore evaders

Some £1.5bn has been recovered from offshore tax evaders over the past two years.

Forget About Hiding Money Offshore!

The planning issue for anyone with an offshore undeclared account is framed in the context of penalty avoidance or mitigation

FATCA Intergovernmental Agreement Update

This will allow such not-for-profit entities to be treated the same way under UK FATCA as they are presently under US FATCA and US-Bermuda IGA Annex I VI B 4 j.

Tax Office freezes assets of Perth investor

Four bank accounts in Australia, Paris and Switzerland have also been frozen as part of the ATO’s investigations

Expats urged to review sources of UK income amid tax raid plans

Property owners and pensioners who face losing their personal tax allowances can take steps now to protect themselves, say experts

HMRC says offshore trusts cannot use settlement facility

HMRC announced on Thursday that users of offshore tax avoidance schemes were not eligible for the special rates aimed to encourage taxpayers to come clean over secret foreign bank accounts.

Tax Agreement with Luxembourg comes into force

The Embassy of the Grand Duchy of Luxembourg in London, has now confirmed that Luxembourg has completed its own ratification procedures.

Expat tax changes to trigger rise in Qrops demand

Nigel Green, deVere Group founder and chief executive, warned that should the government introduce these plans a growing number of British expats are likely to “sever financial ties with the UK”.

Mexico more tax compliant than Jersey, says OECD

The Organization for Economic Cooperation and Development issued compliance ratings for 10 jurisdictions as part of its ongoing ‘Phase Two Peer Review’ reports.

Lawsuit claims FATCA “unconstitutional”

The lawsuit is accompanied by a complaint to the United Nations that FATCA violates fundamental human rights

No influx of European wealth for Singapore

Singapore has grown rapidly by assets under management as wealthy entrepreneurs from the region, especially southeast Asia, have started to use private banks.

Cayman Islands: Tax authority ordered to pay court costs

Australian authorities had made four requests for information to determine the beneficial owners of two Cayman-domiciled companies

Costa Rica: No tax hikes until 2017 as government sets sights on evaders instead

Two additional bills aimed at turning the sales tax (IVI) into a value-added tax and another bill to revamp the income tax scales will be delayed until 2016, ruling party lawmaker Otton Solis told Bloomberg.

The offshore world: Past, present and future? by Gabriel Tribaldos, Morgan & Morgan

The reputation of many jurisdictions, or so called ‘tax havens’, has been attacked by other nations, most which fail to apply the same policies that they advocate for others.

United States: Lawmakers Debate Options For Curbing Offshore Inversions

As many as eight major U.S. companies have recently announced deals that would see them merge with smaller companies overseas and use the transactions to reorganize as non-U.S. entities.

Global Forum releases new compliance ratings on tax transparency for 10 jurisdictions

With the release of the latest batch of reviews, the Global Forum has now completed 143 peer reviews and assigned compliance ratings to 64 jurisdictions that have undergone Phase 2 reviews.

Russian Finance Ministry to exclude Malta from offshore zones

The provisions of the conventions are the same as for most similar documents, which are that a company affiliate’s profits are subject to taxation in the country of location.