Trust association launched in Czech Republic
Almost five months after the Czech Republic enacted legislation introducing trusts, a group of trust law experts have come together to establish the Association for Support and Development of Trusts.
Tax & Regulation
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HMRC claws back extra bn from tax cheats
HM Revenue & Customs pulled in nearly £24bn of extra tax revenue last year following its controversial campaign to close in on tax avoidance.
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FCA welcomes in new financial review body
The Financial Conduct Authority (FCA) has welcomed in a new independent body aimed at restoring the damaged reputation of the financial services industry.
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Barclays fined 26m for gold fixing failings
Barclays Bank’s reputation has taken another heavy blow this morning after the Financial Conduct Authority handed it a £26m fine for failing to manage conflicts of interest in relation to gold trading.
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HMRC faces fresh criticism over conduct
HM Revenue & Customs has been accused of “railroading” taxpayers into making payments, in yet another scathing assessment of its approach to tax avoidance.
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Bahamas labels oecd tax sharing forum flawed
The Bahama’s financial services minister Ryan Pinder has called the OECD’s initiative for automatic exchange of tax information between jurisdictions a “flawed” concept, arguing the case for bilateral rather than multilateral agreements.
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Liechtenstein signs FATCA agreement with US
Liechtenstein has signed an agreement with the US in order to assist with the implementation of FATCA.
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Credit Suisse pleads guilty in US court
Credit Suisse has pleaded guilty to conspiracy to assist US customers in presenting false income tax returns and has paid a settlement to the US Government of $2.8bn.
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Industry professionals split over public banking
Industry professionals have shown polarised views towards David Cameron’s plans to make registers of beneficial ownership publically available throughout the UK and crown dependencies.
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Jersey Finance to expand representation
Jersey Finance is to put a man on the ground in Shanghai from the beginning of next month.
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HMRC scores victory over notorious advisory firm
HM Revenue & Customs has scored its fifth victory against an advisory firm after defeating another of its schemes at a tax tribunal.
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Gibraltar signs FATCA agreement with US
Gibraltar has signed an intergovernmental agreement (IGA) with the United States, a step towards FATCA compliance.