Plans that would effectively end the UK’s non-domicile status for tax purposes have the potential to do more harm than good and could be contrary to EU law, according to the Institute of Chartered Accountants.
Brazil’s federal government has submitted a bill to the Senate to establish a voluntary disclosure programme that would allow companies and individuals to regularise any undeclared offshore assets without facing criminal prosecution.
The Investment Management Association of Singapore has released a set of guidelines for fund management firms to better understand the potential risks of the products they sell.
As early adopters of the new global standard for the automatic exchange of information; Jersey and Spain signed a tax information exchange agreement (TIEA) on Tuesday.
The FCA has published terms of reference for its asset management market study, focusing on industry competition, remuneration and the role of investment consultants.
China is considering amalgamating its banking, insurance, and securities regulators into a single super-commission.
Roughly 40% of those enjoying the tax amnesty available through the Liechtenstein Disclosure Facility (LDF) only did so following unrelated HMRC enquiries.
A sharper focus on offshore banking activity and tax avoidance has seen HM Revenue & Customs grow its Affluent Unit by more than 50% in the past two years.
HM Revenue & Customs’ plans to modernise its operation, consolidating 170 offices into 13 regional centres has seen tax experts question its motives.
The European Commission has said it is considering a delay of up to a year to the initiation of the second iteration of the Markets in Financial Instruments Directive.
The Financial Conduct Authority is hoping its ‘regulatory sandbox’ – a proposed test environment for innovative new products and services – will help retain its position as Europe’s leading fintech centre.
Four executive directors of Guernsey financial services and former QROPS provider Confiance Limited have been fined, and in three cases also banned from performing key functions for five years.
