Managers of Wealth Offshore

'State of Tax Justice 2021: A Critical Review'

As Cayman Finance research continues to demonstrate, TJN reports consistently lack credibility because of significant problems with their choice of data and application of methodology.

New tax regime for UK asset holding companies

The new regime includes a number of UK tax reliefs which we expect could be of interest to fund managers and investors in alternative assets.

Johnny Ronan shifts tax residency to Malta

Developer now registered at flat close to Valetta

Federal Council brings new legal framework on implementation of international tax agreements into force

The revision of the law now also stipulates how mutual agreement procedures are to be carried out at national level, provided the applicable agreement does not contain any deviating provisions.

Revised Tax Legislation Proposal No Longer Includes Certain Estate and Gift Tax Provisions

In order to increase revenue, the current proposal would impose a surtax on individuals with income in excess of $10 million per year and on trusts at much lower income levels.

G77 takes the initiative as G20 papers over the cracks of weak OECD tax deal

Two multilateral instruments are still to be designed, signed and ratified before binding changes come into effect.

The Pandora Papers: How punishing tax cheats can serve as a deterrent

This is not the first time the public has learned about how the wealthy evade taxes and shield their riches.

Majority of publicly traded U.S. multinational firms use tax havens

Data suggests public scrutiny may influence whether firms disclose offshore subsidiaries

U.S. has become haven for tax dodgers

Dynasty trusts have been established that allow wealth to be transferred from generation to generation, while avoiding federal estate taxes.

Overseas tax evasion, money laundering and increased housing prices in Canada

In recent weeks, more than 130 countries have agreed that corporations will pay more taxes in the countries where they earn their money.

HMRC builds war chest in battle against tax avoidance

But tax experts said the government could have gone further to ensure companies and individuals pay the tax they owe.

European Parliament suggests taxing golden passports

Five policy approaches proposed

Tax Transparency For Financial Institutions: A Cost Or An Opportunity?

Many financial institutions have experienced significant internal pressures when implementing these complex requirements

Global Tax Agreement May Shake Up Taxation of Multinational Enterprises

The agreement, if implemented, could increase the complexity of the international tax system. Pillar One requires new source rules and dispute resolution procedures specific to those MNEs subject to the special nexus rule.

Overwhelming MEP vote for action on tax evasion after Pandora Papers

MEPs deplored the fact that following the Pandora Papers revelations, the Council of EU Finance Ministers decided to shorten the EU list of tax havens

United States: Challenges expected in US implementation of OECD agreement on global tax reform

While this agreement is a key milestone in the process, there is still a great deal of technical work ahead, and implementation of the agreement—targeted for 2023—will have its own challenges, including in the US.

Fitch On Bermuda, 15% Global Tax Rate & More

Solvency II equivalence and reciprocal jurisdiction status in the U.S. Bermuda is a member of the OECD Inclusive Framework

Who will be affected by the move to independent taxation?

Additionally, for those whose tax bill would be higher under independent taxation, a new compensatory allowance would also be introduced to make sure couples will not be worse off by moving to independent taxation.

Bermuda warned over tax status squeeze for reinsurers

Bermuda is a member of the OECD Inclusive Framework and joined the OECD statement in July 2021 as it seeks to be an active participant in shaping the final details of the BEPS plan.

Fears for TIEAs: mutual exchange agreements want to rule the offshore world

This article considers how courts have approached TIEA requests in three offshore jurisdictions.