05/29/2020
Luxembourg Issues Guidance On DAC6 Tax Scheme Reporting
Member states' tax authorities are also required to exchange data on tax planning arrangements on an automatic basis.
Legal,Regulation,Tax & Compliance
05/29/2020
Offshore Business Update: Appleby
The purpose of this report is to help our clients better understand what “business as usual” in our jurisdictions* actually means.
05/28/2020
CARES Act Increases Business Tax Incentives for Charitable Gifts
Changes apply to donations of cash and food inventory.
05/27/2020
A clampdown on corporate tax avoidance is coming. Companies should embrace it
In the U.K., for instance, the forecasts already predict the national deficit could rise from 55 billion pounds to 337 billion pounds (around $67 billion to $410 billion) by the end of this year.
05/27/2020
Appleby Advises Standard Chartered Trust (Guernsey) Limited on the Cessation of its Business in Guernsey
The winding up application formed the final phase of the Group’s cessation of business in Guernsey, announced in July 2016, as part of Standard Chartered Bank’s (SCB) centralisation of its trust and fiduciary services offering to Singapore.
05/27/2020
Exit from Lockdown: Practical employment implications for CI businesses
As a central part of their preparations for lifting lockdown restrictions, businesses should focus on the views and concerns of their employees and speak to their staff about the options as well as any variations to contracts and policies.
05/27/2020
Guernsey Mandatory Disclosure rules
The Law will impact arrangements or structures that it is ‘reasonable to conclude’ are either a ‘CRS avoidance arrangement’ or an ‘opaque offshore structure’ as defined in the Law (together the ‘reportable arrange
05/27/2020
Carey Olsen and Aztec Group support €1.1bn Deutsche Beteiligungs Fund VIII
The Carey Olsen team, led by partner Tom Carey with support from senior associate Chris Hutley-Hurst and associate Felicity Wai, provided Guernsey legal, regulatory and tax advice to DBAG in respect of the formation, structuring and launch of Fund VIII.
05/27/2020
HMRC Sharply Increased Use of Account Freeze Orders in Latest Tax Year: FT
The total compares to HMRC’s use of 60 account freezing orders, covering £8 million, during the previous tax year.
05/26/2020
Swiss investigation launched into alleged ‘Covid credit’ fraud
The Office of the Attorney General of Canton Vaud opened an investigation last week involving several Swiss nationals,
05/26/2020
Australian wealth manager says class action to end without payouts
By that time, IOOF had lost half its market value and suffered the departure of its top executives.
05/26/2020
Ex-Coutts Banker on Trial Over $700 Million Transfer From 1MDB to Jho Low
Coutts among three Swiss lenders fined over 1MDB scandal
05/26/2020
Pilatus fined for failing to give information to FIAU
Bank was fined for its failure to reply to two 2017 requests for information
05/25/2020
Switzerland cooperates with Vatican fraud investigation
The Vatican’s prosecutor opened an investigation into the funds last October after it emerged that some of the money invested came from donations to the Peter’s Pence charitable collection.
05/25/2020
Credit Suisse CEO expects staff cuts, report says
The bank has a four phase plan to return to normal and reopen closed bank branches, which includes free anonymous Covid-19 antibody testing.
05/24/2020
Carlos De Serpa Pimentel Recognised in Citywealth's Top 100 Trust Litigators List
Carlos has previously been recognised as a top trusts lawyer in Chambers Global, Legal 500, Who’s Who Legal, and more.
05/24/2020
English High Court rules former Leeds United MD David Haigh rebranded as #FreeLatifa “human rights lawyer“ a “fraudster”
High Court rules to retrieve Haigh’s hotel and farm, bought with embezzled funds.
05/24/2020
Blockchain Principles Launched To Preserve And Protect User Rights
The blockchain ecosystem needed a baseline for designing applications that preserve the rights of users
05/24/2020
New Supervisory and Enforcement Regime on the Horizon: Practical Guidance for Financial Institutions
In Q1 2021, the Commission will publish legislative proposals "to deliver a single rulebook in the field of AML/CFT, based on a thorough impact assessment.
05/24/2020
How ‘Baby Al Capone’ pulled off a $23.8 million crypto heist
Ellis’ bedroom in the $1.3 million home he shared with his family, including his NYU Langone-physician mother, had three computer monitors for playing his favorite games, Counter-Strike and Call of Duty.