Managers of Wealth Offshore

Senator Drakes Gives Take On Taxation Of Corporations

How many of your senior managers, if it is an international company, how many of them are Barbadians?”

Government ready to counter global corporate tax dictates

The OECD said in pillar one it was aiming to achieve a “fairer distribution of profits and taxing rights among countries with respect to the largest multinational enterprises, including digital companies”.

Tax amendments proposed for those taking pension funds offshore

Axelson, however, said this was different to individuals who stay as South African tax residents, who can access their money only once they are aged 55 or more.

Globally taxing times ahead

The OECDs proposals gained widespread media coverage following the G7 Summit in June 2021, with the G7 pushing for the global minimum corporation tax rate of 15%.

UK taxpayer prevented from challenging validity of tax enquiry

The Supreme Court, in its judgment, found that the legal concept of ‘estoppel by convention’ applied in this case.

Timeframes for prosecution of tax crimes set to be extended

At present, tax offences have a two-year prescription period

Call for Bermuda to move on global tax plan

There were several more targeted responses, but Mr. Lowther was the last to speak.

Barbados finally joins global tax plan

The island joined 132 other countries and jurisdictions participating in the agreement to establish international tax reforms based on a two-pillar package.

Tax havens meet monopoly power: why national competitiveness harms competition

There is more than one possible answer, but in many countries a “Competitiveness Agenda” holds sway.

Aberdeen Asian Income trust eyes switch from Jersey to UK tax residency

The change of tax residence would "increase the revenue of the company available for distribution to shareholders and there should be no material disruption to the company's operations," according to the board.

Tax review "does not solve underlying problems", says its figurehead

That Sub-Committee has arrived at three options: a 3% income-based health tax, a GST increasing over time to 8%, or a combination of income-based and consumption taxes.

IRS Gets Green Light to Seek Information from Third Parties Regarding Panama Offshore Legal Services

Although the government’s efforts to identify additional foreign assets and accounts is not surprising, the news release does provide another cautionary tale of the government’s power and reach to identify taxpayers who hold foreign accounts a

Global Legal Insights Corporate Tax 2021: Luxembourg

The Luxembourg Court has also issued several decisions, which addressed challenges by the Luxembourg tax authorities of periods following the entry into force as of 1 January 2015 of the formal ruling procedure.

Work "ongoing" in move to independent taxation

The policy change was earmarked to cost in the region of £12 million and was rolled in with wider changes to the Revenue Service.

Onwards and upwards: lessons learned over the past year

Our most recent webinars focused on our shared experiences of working through the pandemic

P&R outline options for Tax Review

This project sits alongside other workstreams identified as a priority in the Government Work Plan, including those to reform public sector spending and encourage economic growth.

Global tax reforms and transparency

Levelling up and taxation has never been more important.

New OECD data highlights the importance of the international tax reform discussions

The data, released in the OECD's annual Corporate Tax Statistics publication, shows the importance of the corporate tax as a source of government revenues

Wealthy Americans Targeted by U.S. in Panama Tax-Fraud Probe

The order requires that they produce information about possible violations of tax laws by people whose identities are unknown

The Revenue Rule in the Cayman Islands and British Virgin Islands

It is also well established in other international financial centres and British Overseas Territories, such as Bermuda2.