Issuing tax laws by press release perilous for South Africa
Introducing tax legislation by press release and putting changes into place with immediate effect puts South African taxpayers in an “impossible position”, a tax expert has warned.
Introducing tax legislation by press release and putting changes into place with immediate effect puts South African taxpayers in an “impossible position”, a tax expert has warned.
New HMRC guidelines on how people can downsize their home but retain the value of their previous residence for inheritance tax reduction purposes have been branded ‘impenetrable’ by accountancy body the ICAEW.
An Italian law firm has lost its appeal against a British High Court ruling that it was under a duty to warn investors over a failed property scheme that is now under investigation for allegedly being a money-laundering vehicle for the mafia and IRA.
International IFA firms, lawyers, accountants and wealth managers need to be “astute to the challenges and effects” of the UK Criminal Finances Act, which comes into effect on 30 September, a leading Channel Islands law firm has warned.
The government of the United Arab Emirates has issued a decree paving the way for its new value added tax (VAT) system to be implemented from 1 January 2018, which will cover the financial services sector.
Hong Kong and Dubai-based securities watchdogs have penned a cooperation agreement on fintech innovation.
Three former Allianz employees have been sentenced for bribery offences after making £7,000 ($9,000, €7,597) by leaking more than 700 pieces of confidential data, an investigation by the City of London Police’s Insurance Fraud Enforcement Department (Ifed) found.
US rapper DMX, facing 44 years jail for a massive tax fraud, has been ordered to check into a rehabilitation facility to seek treatment after violating bail conditions.
HM Revenue & Customs claims that of the 26 litigation decisions in 2016/17 where tax avoidance was involved, 22 of them (86%) went in its favour.
Taiwan’s Ministry of Finance has called on taxpayers receiving overseas income to declare it voluntarily in order to avoid facing fines of up to three times the tax evaded.
Australia, Qatar and Canada are among six jurisdictions rated largely compliant but still needing to make improvements in the latest wave of peer reviews by the OECD focusing on availability of beneficial ownership information.
The Australian Association of Independently Owned Financial Professionals (AIOFP) has stepped up efforts to amend the legal definition of “independent advice” through the publication of a white paper seeking to challenge the regulator’s views.