04/04/2019
Latest developments in civil penalties regime
The Commission has power to issue a penalty against a registered person where there has been a 'significant and material contravention' of a code of practice
Regulation, Risk & Compliance
04/03/2019
Panama Papers Helps Recover More Than $1.2 Billion Around The World
French tax authorities have confirmed nearly $136 million has now been recovered – and that figure is expected to rise.
04/03/2019
UK anti-tax avoidance scheme broke state aid rules, says EU
The Commission found that the scheme was “partly justified” and did not constitute state aid as it ensured the “proper functioning and effectiveness of the relevant tax rules”.
04/03/2019
Labuan: Asia’s overlooked Islamic finance growth story
Today, Labuan is regarded as a premium financial centre for regional Asian companies looking to expand internationally, as well as for global companies entering Asian markets.
04/03/2019
Financial Prey for the Populists
As the global wave of cross-border banking recedes, foreign banks are becoming easy targets for populist expropriation, especially in Central and Eastern Europe.
04/03/2019
BVI guidance on economic substance requirements expected in draft form in late April 2019
BVI Finance anticipates that the draft Code will be published in late April 2019.
04/03/2019
Lawmakers to debate amendments to Trusts Law and Bills of Exchange Law
It achieves this by improving the Grand Court’s administration of trusts, to provide greater clarity and certainty for court proceedings involving users of Cayman Islands trust products.
04/03/2019
A Balancing Act: Distributions and Contingent Liabilities
As part of this process it is important that due consideration is given to the liabilities of the company
04/02/2019
R&Q gets Irish regulatory approval for Coffey Western Captive deal
Ken Randall, chairman and CEO of R&Q, had previously suggested that a continued soft market, capital pressures from Solvency II and challenges from Brexit and BEPS are providing more opportunities for R&Q to provide either complete finality or par
04/02/2019
Guernsey Property Unit Trusts
Guernsey has a very well established trust company industry with most administrators offering trust company services alongside their administration services.
04/02/2019
EU says part of UK tax scheme was illegal aid for multinationals
The rules allow UK tax authorities to allocate all profits artificially diverted to an offshore subsidiary back to the UK parent company.
04/02/2019
British Virgin Islands: A Solution To An Unusual Predicament
The BVI Commercial Court held that the scheme of the Business Companies Act was to require three conditions
04/02/2019
Court nullifies Kenya’s tax deal with Mauritius
The continental initiative, which promotes accountable and progressive taxation systems said Kenya failed to subject the tax agreement to the due ratification process in line with the Treaty Making and Ratification Act.
04/01/2019
European Investment Fund able to invest into Guernsey again
Confirmation earlier this month that the island’s legal substance requirements were considered compliant with EU requirements, has meant that the European Investment Fund is once again permitted to invest into Guernsey funds.
04/01/2019
Guernsey to the rescue for in-deficit pension schemes
Defined benefit pension schemes are exposed to longevity risk as they guarantee lifetime benefits for members.
04/01/2019
Government warned that corporate tax avoidance crackdown is ‘damaging Ireland’s competitiveness’
Big four accounting firm Deloitte warned that the government was going too far in its efforts to be seen to lead on international best practice.
04/01/2019
Why is Ireland facilitating tax avoidance?
There is clear and growing evidence that Ireland is still acting as a “conduit”, facilitating large-scale tax avoidance.
04/01/2019
Guernsey reopens investment talks with EIF
The EIF is a specialist provider of risk finance for small and medium-sized enterprises across Europe, backed by the European Investment Bank, European Union and a range of public and private banks and finance institutions.
04/01/2019
European Investment Fund able to invest into Guernsey again
The move will be welcomed by the Guernsey funds industry.
03/29/2019
BVI’s place in the corporate/M&A landscape of SE Asia
A significant increase on new incorporation numbers for the first three quarters of the two previous years.