guernsey fines generali worldwide for failings
Guernsey’s Financial Services Commission has fined Generali Worldwide Insurance Company £150,000 for what it said were “failings in systems and controls” that occurred between 2008 and 2010.
Tax & Regulation
-
-
bermuda latest uk overseas territory
Bermuda, the UK overseas territory known for its specialist expertise in insurance, has signed a “Model 2 UK FATCA” intergovernmental agreement with the UK.
-
expats face tax bill
A Manchester tribunal has ruled that a Cheshire couple who moved to Portugal more than 10 years ago are still classified as UK residents, leaving them liable for a £600,000 tax bill.
-
isle of man among 18 countries deemed
The Isle of Man was among only a handful of countries reviewed by the OECD deemed to be compliant with its principles of tax transparency.
-
hmrc targets salary sacrifice schemes
HM Revenue & Customs has highlighted that some salary sacrifice schemes are straying close to tax avoidance and could be cover for more complex arrangements.
-
thousands of expats caught up in tax
UK chancellor George Osborne is expected to announce that capital gains tax will be charged on British property sold by overseas nationals and expats, the Daily Telegraph of London is reporting today.
-
uae top position most competitive tax regime
The United Arab Emirates continues to have the most competitive business tax regime in the world, according to PwCs latest report on jurisdictions around the world.
-
tax justice network again names switzerland
Switzerland has once again been named the world’s most secretive jurisdiction by the Tax Justice Network, a UK-based campaign group.
-
cayman formalises tax information deal
The UK has published an intergovernmental agreement to improve international tax compliance with The Cayman Islands.
-
avoidance scheme disclosure falls sharply
There was a sharp decline in the number of disclosures of tax avoidance schemes in the latest six months to September 2013, according to official figures from the HM Revenue and Customs.
-
highest number of staff leave hmrc in four years
Almost 1,700 employees left HMRC in the last 12 months, the highest number in four years, as the department comes under increased pressure to clamp down on tax evasion.
-
jersey incorporates hastings-bass rule
Jersey has enshrined the controversial Hastings-Bass rule into law via an amendment to its trust legislation, in what Jersey Finance has hailed as a “legal first within the international trust’s arena”.