Cayman Islands launches FATCA portal
The Cayman Islands Tax Information Authority has launched an online portal to allow local financial institutions to report information required under the US Foreign Account Tax Compliance Act (FATCA).
Tax & Regulation
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HMRC to introduce strict liability offence
HM Revenue & Customs plans to introduce a new strict liability criminal offence on both offshore tax evaders and those who help them following the UK Governments clampdown on tax dodging in yesterdays Budget.
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Budget 2015 Winners losers and kneejerk reactions
The dust is still swirling around the House of Commons and copies of white papers are being furiously read, but the initial reactions are in on this year’s national budget. And, the consensus, if one believes twitter and the stock market seems to be mixed.
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Liechtenstein Disclosure Facility to end early
The UK Government has announced in todays Budget that it will close the Liechtenstein Disclosure Facility (LDF) half a year earlier than expected in order to make room for a tougher disclosure facility.
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Life ban for BlackRock fare dodger was ‘disproportionate’
The Financial Conduct Authoritys lifetime ban on an ex-BlackRock managing director who avoided £43,000 in ticket fares has been described as disproportionate and draconian by the head of the representative body for the UKs securities and investment industry.
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LM investors recover A$40m from retirement village
Thousands of customers invested in an LM Investment Management fund have received their biggest return since the collapse of the company.
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Two thirds of Britons oppose HMRC
Two thirds of Britons are opposed to the UK Governments ability to demand the payment of disputed tax without passing through the court system, a poll released today has found.
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Avoidance promoters to face 1m fines over
HM Revenue & Customs has ramped up the rules around tax avoidance schemes with “high risk” promoters now facing fines up to £1m.
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Lenient FATCA has kick started
FATCA, the US’s controversial piece of US tax legislation, has marked the first step towards global transparency and has provided cooperating jurisdictions with plenty of leniency, a US-based tax expert has said.
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Trail commission ban to slash
The UK regulators banning of trail commission in 2016 could result in over 15,000 advisers losing their job, a report by the former director general of the association of IFAs has predicted.
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Swiss sign first tax information pact with Aus
Australia has signed a reciprocal agreement with Switzerland for the automatic exchange of tax information on each other’s citizens, the Swiss finance ministry has said.
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jersey to evolve qrops legislation step by step
Jersey’s chief minister Ian Gorst has said that the island’s strategy towards building business in the QROPS market is not cautious, but rather a “step-by-step” approach.