Tax body chides UK Gov’t plan to jail accidental evaders
The UK Government’s pledge to introduce a criminal offence that could put unintentional offshore tax evaders behind bars has been criticised by the Chartered Institute of Taxation (CIOT).
The UK Government’s pledge to introduce a criminal offence that could put unintentional offshore tax evaders behind bars has been criticised by the Chartered Institute of Taxation (CIOT).
International soccer star Lionel Messi will have to face trial for alleged tax fraud in Spain after a court in Barcelona turned down an appeal by his lawyers, the El Pais newspaper reported.
International money transfer firm Xpress Money has called for new measures to stop investors being exploited by hefty charges when sending cash overseas.
A financial adviser and a group of film producers who set up an international scheme are facing a trial for fraud.
The call for the world’s nine largest insurers to up their base capital by 10% under proposed ‘too big to fail’ rules does not show a considered appreciation of how well managed they are, AILO’s chief executive Alan Morgan-Moodie has told International Adviser.
The UK Government’s consultation paper on non-domicile status is “thin on the ground” when it comes to detail and, if introduced as proposed, will fail to treat some ‘non-doms’ fairly, according to tax experts.
Ahead of RDR implementation in South Africa, IFAs would do well to consider whether to stay independent and seek other sources of revenue, or pool together to minimise governance expenses, explains Derek Smorenburg, the man behind the South African Independent Financial Advisors Association (SAIFAA).
A tax avoidance scheme which exploited the UK’s double-taxation agreement with the Isle of Man has been defeated by HM Revenue & Customs.
Prudential, one of the international insurance companies identified by the Financial Stability Board as ‘global systemically important’, is reported to be considering again a move away from its UK headquarters to Singapore or Hong Kong.
Offshore trusts have been excluded from the UK Government’s plans to tighten its tax restrictions on non-domiciles.
The European Securities and Markets Authority (ESMA) has released its final technical standards for MiFID II and the Market Abuse Regulation (MAR), which set out how the new legislation will work in practice.
Finland is on course to introduce new rules for a temporary amnesty allowing voluntary disclosure of undeclared foreign investment income.