08/14/2015
OECD publishes guidance on international standard for automatic exchange of tax information
The new 'Implementation Handbook' is designed to assist countries with their implementation of the CRS.
Legal,Regulation,Tax & Compliance
08/14/2015
Top FPIs raise concerns with Sebi over Mauritius Treaty, GAAR and participatory notes
Overseas investors coming through Mauritius and trading on Indian stock exchanges are spared of the 15% tax on shortterm capital gains.
08/13/2015
Switzerland, Belize Sign TIEA
The agreement must now be approved by the Swiss parliament and may be subjected to a referendum before it can enter into force.
08/13/2015
Gibraltar FSC signs MOU with Israel
The MoU indicates our joint endeavours to work closely together to support our work to protect the public
08/13/2015
SS&C Announces Favorable Arbitration Decision in Millennium Actions
The Millennium Action was a GlobeOp legacy dispute that first arose prior to SS&C's acquisition of GlobeOp in June 2012.
08/13/2015
Forgeries, Feng Shui and Philanthropy
Nina Wang's bonkers estate
08/12/2015
Tax dodgers must come clean
The South African Institute of Professional Accountants is urging local tax dodgers to come clean in the wake of the HSBC scandal.
08/12/2015
The new EU succession regulation – how will Switzerland be affected?
It has direct binding effect and will apply in all EU Member States except for the United Kingdom
08/12/2015
New report compares performance, best practices and trends in 56 tax administrations
Tax administrations continue to face the challenges of improving their performance while reducing costs, decreasing compliance burdens for taxpayers tackling non-compliance.
08/12/2015
Half million pound FCA fines against Luxembourg directors upheld
ARM was a securitisation vehicle based in Luxembourg which issued bonds and used the proceeds to invest in traded life assurance policies (also known as senior life settlement policies). ARM’s Bond Programme was registered with the Irish Stock Exch
08/12/2015
Puerto Rico Investors Win Relief From UBS
Cases were decided by arbiters from Finra
08/11/2015
Foreign Account Tax Compliance Act
Trustee and fiduciary service providers are subject to FATCA compliance requirements
08/11/2015
Are You an Expat in the U.S.? Tips for Avoiding Tax and Investment Stumbles
Waiting years or decades to fully report foreign assets is likely to result in large tax penalties and require expensive legal and accounting work to become compliant.
08/11/2015
The Cyber-Insider: Mystery Money Manager Arrested in Hacking
He seems like an American success story: an ambitious Russian who came to the U.S. and went from business school to Wall Street to his own hedge fund.
08/11/2015
Luxembourg private foundation
The Bill is being discussed and is expected to be adopted before the end 2015.
08/11/2015
Three More Swiss Banks Resolve Their Tax Issues with the United States
Swiss banks meeting all of the above requirements are eligible for a non-prosecution agreement.
08/10/2015
Revenues surge as global crackdown on tax evasion gathers pace
The Paris-based OECD said last week that many transgressors were facing “the last window of opportunity” to disclose such information.
08/10/2015
The OECD takes further steps to putting an end to offshore tax evasion
The OECD has released three new reports to help jurisdictions and financial institutions implement the global Standard for automatic exchange of financial account information
08/10/2015
Offshore Messenger: Budget changes significantly impact offshore world
In a bid to raise more tax, the UK Summer Budget introduced a number of changes which will significantly impact the offshore world.
08/10/2015
Wealth planning update - Withers
With this newsletter we would like to bring to your attention a number of international developments that are likely to be relevant for clients and their advisers alike.