US tax authorities demand Singapore bank records
The US Internal Revenue Service (IRS) wants Singapore to waive its bank secrecy laws and push UBS into releasing financial information of a US citizen.
The US Internal Revenue Service (IRS) wants Singapore to waive its bank secrecy laws and push UBS into releasing financial information of a US citizen.
The UK chancellor George Osborne has abandoned plans to shake up the pension tax system in this month’s budget after pressure from Conservative MPs, according to media reports.
Chancellor of the exchequer George Osborne is under increasing pressure to ‘play it safe’ and not overhaul the UK pensions system when he reveals his budget in 12 days’ time.
Accounts held by the lawyers or notaries of clients in Switzerland are now exempt from the United States’ Foreign Account Tax Compliance Act (FATCA) following the signing of an agreement by the countries’ authorities in February.
The International Organization of Securities Commissions (IOSCO), a global body representing financial regulators, has singled out misconduct in relation to retail financial products as one of its top four market risks for 2016.
Individuals and small, closely held business entities will be the most affected by the South African offshore tax amnesty which is due to begin in October, according to EY.
The amount of tax the UK government collects from pension savers who have breached their lifetime allowance (LTA) has almost quadrupled since George Osborne became chancellor, The Sunday Times reported.
There would be serious implications for Gibraltar were the UK to withdraw from the EU, according to an official UK government paper published on Monday.
The Financial Conduct Authority lacks “good evidence” that its enforcement actions are helping to reduce levels of mis-selling of financial services products, according to the National Audit Office (NAO).
The big question for international advisers isn’t Brexit but whether or not the UK is granted European Economic Area status, according to the Federation of European IFAs.
The newly-reappointed head of the IMF has called on Gulf countries to re-engineer their tax systems and consider greater use of corporate income taxes, as well as property and excise taxes to bolster government revenues in the face of lower oil prices.
UK wealth manager WH Ireland has been fined £1.2m ($1.7m) and restricted for 72 days from taking on new corporate broking clients for failing to sufficiently protect against the risk of market abuse.