08/24/2015
Rich pay too much, says Joe Hockey, laying ground for income tax cuts
Treasurer signals further spending cuts as he says Australia’s top marginal tax rate is higher than other comparable countries and reduces incentives
Legal,Regulation,Tax & Compliance
08/24/2015
Swiss and Saudis dragged into 1MDB scandal
The Swiss are investigating alleged financial improprieties and the Saudis are ‘not amused’ by unwanted headlines.
08/24/2015
Jersey signs Memorandum of Understanding with Switzerland
The JFSC has MoUs with regulators in over 90 countries.
08/23/2015
Switzerland could turn the scales in 1MDB scam
Swiss financial regulator FINMA said on August 19 that it will check with some of the country’s banks on whether they carried out any business with 1MDB and whether fishy transactions were involved.
08/23/2015
Bitcoin CEO's arrest leaves trail of unanswered questions
A fresh warrant resets the clock on how long police can hold him and grill the self-described computer geek over Tokyo-based MtGox's missing Bitcoins.
08/21/2015
Double Taxation Avoidance Agreement between South Africa & Mauritius
The notebook of Gary Gowrea, Head of Tax, Advisory and Corporate Structuring for Cim Global Business.
08/20/2015
Swiss financial regulator looking into possible connection between banks, 1MDB
Swiss financial regulator Finma is checking with some of the country's banks on whether they carried out business with Malaysia's troubled state investment fund 1Malaysia Development Berhad, a spokesman said yesterday.
08/20/2015
The New Protocol To The Cyprus - South Africa Double Taxation Agreement
The Protocol amends the 1997 DTA in three areas, namely the definition of residence, withholding taxes on dividends and exchange of information. Importantly, it does not change the existing, highly beneficial, arrangements regarding taxation of capital ga
08/20/2015
Bank pays €22 mn for Luxembourg tax evasion activities
According to “Süddeutsche”, in addition to HSH Nordbank, HVB and Commerzbank, three further large financial institutions, two of them in state hands, are under investigation.
08/20/2015
Sons of Indicted Swiss Financial Adviser Keep Business in Family
He is one of about 30 Swiss advisers who have been indicted in the U.S. since 2008, part of a broad probe of tax evasion and undeclared offshore accounts.
08/20/2015
Five managers face Madoff-related criminal trial in October in Geneva
The trial will determine whether the partners should be held responsible for their clients’ losses
08/20/2015
Innovation tax breaks “key to attracting companies”
Industry lobby groups are calling on lawmakers to bolster business innovation as they debate corporate tax reforms aimed at retaining Switzerland’s status as a location for multinationals.
08/19/2015
A big bank got fined $15 million for giving internships to the 'less than exemplary' kids of Middle Eastern officials
An SEC investigation found that BNY Mellon did not evaluate or hire the family members through its existing, highly competitive internship programs that have stringent hiring standards and require a minimum grade point average and multiple interviews.
08/19/2015
UBS announces successful completion of SESTA procedure and expected date of payment of supplementary dividend
UBS expects the last trading day of UBS AG shares on SIX Swiss Exchange to be 27 August 2015
08/19/2015
Germany's HSH Nordbank agrees 22-mln-euro fine in tax probe
News of the settlement was first reported by newspaper Sueddeutsche Zeitung and broadcasting networks NDR and WDR earlier on Tuesday.
08/19/2015
Tax expert warns Liechtenstein replacement will be tougher
Since its inception in September 2009, more than 6,500 people have registered to participate in the Liechtenstein Disclosure Facility. More than 5,900 disclosures have been received by HM Revenue and Customs, with over £1.6bn raised so far.
08/19/2015
Goldman Sachs's unit obtains Hong Kong banking license
A wholly-owned unit of Goldman Sachs Group received a banking license from The Hong Kong Monetary Authority (HKMA), the HKMA announced on Wednesday, in a step that creates a local subsidiary through which the U.S investment bank can book its trades.
08/19/2015
Switzerland's FINMA looking into possible Swiss connection to 1MDB
The fund has been dogged by controversy over its $11 billion debt and alleged financial mismanagement.
08/18/2015
Former forex traders challenge Citi over dismissal
The authorities found that Citi and other banks attempted over a period of almost six years to have rigged key foreign exchange benchmarks, including at least one provided by central banks.
08/18/2015
Bend Me Shape Me...Restructuring And reshaping trusts in bermuda by Ashley Fife
Senior Associate Ashley Fife examines options for restructuring and reshaping Trusts in Bermuda to enable trustees to adapt to unforeseen circumstances.