Document leak ‘biggest ever blow to the offshore world’
Around 11.5 million leaked documents from a Panama-based law firm have exposed the offshore holdings of politicians, sports stars and public officials around the world.
Around 11.5 million leaked documents from a Panama-based law firm have exposed the offshore holdings of politicians, sports stars and public officials around the world.
Barings’ chief executive in South Korea, Thae Khwarg, has said that he ‘welcomes’ proposed changes announced by the country’s Financial Services Commission (FSC) which would allow IFAs to provide independent advice while adopting a new fee-based only regime similar to the UK.
UK chancellor George Osborne’s recent announcement to cap investment and pension exit fees is a big step in the right direction towards tackling punitive investment and pension exit fees, says David Pugh, director of The Fry Group, Singapore.
Reforms announced by chancellor George Osborne earlier this month could mean that non-UK domiciles are thousands of pounds better off if they hold onto their overseas assets until after they change their status, Rachael Griffin, the financial planning expert at Old Mutual Wealth, has said.
South Korea’s Financial Services Commission (FSC) has announced plans to overhaul the country’s financial advisory sector, with IFAs set to provide independent advice while adopting a new fee-based only regime similar to the UK.
A number of tax measures announced in Singapore’s budget last Thursday are aimed at spurring growth in the country’s small and medium-sized enterprise sector (SME) and encouraging the internationalisation of local businesses.
Half of advisers (50%) would welcome Britain cutting ties with the EU while just over a third (34%) want the UK to remain in Europe, according to a survey from financial services technology company Intelliflo.
Thousands of Dutch citizens face having details of their Swiss bank accounts combed over by tax authorities despite a court ruling that they should not have been disclosed.
Bulgaria has removed Gibraltar from its ‘tax haven’ list following intensive lobbying from Gibraltar Finance and the state’s minister for finance and gaming, Albert Isola.
The Thai Securities and Exchange Commission has filed charges against a fifth financial advice firm in two months.
The Competition Commission of Singapore (CCS) has fined 10 firms nearly S$1m for collaborating to pressure a competitor to withdraw an offer of a 50% commission rebate on life insurance products.
The UK’s double tax agreements (DTA) with Guernsey, Jersey, and the Isle of Man have been amended so that non-UK resident property developers will no longer be able to avoid paying income or corporation tax in the UK.