South African tax amnesty on undeclared offshore assets flops
Just a few hundred South African taxpayers have taken advantage of the country’s special voluntary disclosure programme (SVDP) which is due to end on the 31 August.
Just a few hundred South African taxpayers have taken advantage of the country’s special voluntary disclosure programme (SVDP) which is due to end on the 31 August.
As part of its crackdown on pension scams, HM Treasury has confirmed that it will limit the statutory right to transfer but will extend the proposed criteria to include qualifying recognised overseas pension schemes (Qrops).
All contractors working on public sector projects that started before December 2016, when the levy was first announced, will be exempt from paying the expat workers’ tax.
Geneva-based investment management and consulting company Prime Partners has agreed to pay $5m (£3.9m, €4.2m) to the United States Attorney’s Office to settle charges for helping US taxpayers dodge taxes.
A former UK adviser has been jailed for six years and banned from being a company director for eight after he was convicted of stealing £1m ($1.29m, €1.1m) of clients’ money via a self-invested personal pension scheme he invented.
The Australian Securities and Investments Commission (Asic) has permanently banned a former adviser who was found guilty of 97 counts of fraud and 10 counts of stealing and sentenced to six and a half years’ imprisonment.
A husband and wife from the Channel Island of Sark have each been banned from acting as company directors for 15 years after they were convicted and imprisoned for conducting regulated business without a licence and obstructing justice.
A new flat rate tax regime introduced in Italy earlier this year is putting the nation on the map of potential destinations for super-wealth expats of all nationalities, an expert has told International Adviser.
The European Commission is understood to be looking at four kinds of sanctions targeted at jurisdictions on its planned tax haven blacklist which is due to be finalised at the end of this year.
Abu Dhabi Global Market (ADGM), the financial free zone in the capital of the UAE, has launched of a new legal structure to support the growth of its wealth management industry.
A plan to scrap an exemption on taxing foreign employment income is not a “crazy proposal” when compared with other jurisdictions, the head of tax and financial sector policy at South Africa’s National Treasury has said.
The UK’s Financial Ombudsman Service (FOS) received 59% more complaints about self-invested personal pensions (Sipps) in the first quarter of the 2017/2018 financial year compared to the same period a year before.