Panama Papers ‘only the tip of an iceberg’
The European Parliament has admitted that the Panama Papers leak “can be construed as only the tip of an iceberg” in a draft report that slams attempts to halt tax avoidance and evasion.
The European Parliament has admitted that the Panama Papers leak “can be construed as only the tip of an iceberg” in a draft report that slams attempts to halt tax avoidance and evasion.
A former IFA, an accountant and two film producers have been ordered to repay more than £2m ($2.6m, €2.3m) that they scammed from investors in a film tax fraud.
UPDATED: Insurers headquartered on the Isle of Man will no longer have to provide customers with generic information about commissions and fees from 1 January 2018 after the island’s regulator scrapped its plans, in a move welcomed by the industry.
The UK’s financial services regulator has released new guidelines to measure the success of last year’s Financial Advice Market Review (FAMR), which looked at how to make advice more affordable and accessible.
Singapore’s decision not to impose the same hefty fines on banks linked to 1MDB as other countries, but to instead name and punish individuals responsible, is a strong deterrent, said Ravi Menon, managing director of the city-state’s financial regulator.
Plans by the UK’s Financial Conduct Authority to crackdown on excessive asset management fund charges and improve competitiveness in the sector has been met with a flurry of contradictory responses from different parts of the financial services industry.
Jorge Mendes, a sports agent whose clients include Christiano Ronaldo and Fabio Coentrao, has denied helping footballers evade tax illegally by creating shell companies.
A Shanghai-based financial adviser has heavily criticised the Isle of Man Financial Services Authority (IoMFSA) over how it has handled the fallout of the Quadris Environmental Forestry Fund, which invested in Brazilian teak plantations.
As tax laws have changed in recent years the disadvantages of owning Spanish property through a company have increased, says Jason Porter, director of European IFA firm Blevins Franks.
HM Revenue & Customs has kickstarted a new beneficial ownership register targeting those who set up trusts to “generate tax consequences” in guidelines published on Tuesday.
UK citizens living in Europe have condemned the British government’s decision not to guarantee the rights of EU citizens living in the UK, despite plans to maintain reciprocal healthcare rights and the ‘triple lock’ on pensions.
The British government has announced it will maintain reciprocal healthcare rights and the ‘triple lock’ on pensions for the 1.2 million UK citizens currently living in the EU.