those hiding assets offshore
Danny Alexander, the UK’s chief secretary to the treasury, this afternoon highlighted how “tax dodging is not limited to our own shores” at his Liberal Democrat party’s annual conference.
Tax & Regulation
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Serious tax evasion cases take a surprising dip
The number of serious tax evasion cases identified by HM Revenue & Customs has fallen by almost a quarter in the past year, according to Pinsent Masons, the international law firm.
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nick clegg backtracks on top ten tax
Nick Clegg has said the better-off may have to pay more tax as part of future austerity measures but denied claims he wants to "soak" the rich, according to BBC reports.
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singapore regulator seeks greater powers
The Monetary Authority of Singapore is seeking greater powers over insurance companies based in the country in its latest consultation document on the Insurance Amendment Bill.
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sec golden new era for financial planning
In another move to raise the bar in financial planning, the Securities and Futures Commission chairman Eddy Fong has highlighted that the soon-to-be launched investor education centre will have a wide remit and how it signifies the “start of a new era in investor education for Hong Kong.”
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Regulator fines adviser firm over ucis
The UK's Financial Services Authority has fined Pi Financial £58,300 for advising its clients to invest in high risk products, including Ucis, which were clearly unsuitable.
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hmrc claims victory over stamp duty avoidance
The UK government has won an important court case defeating the use of a widely-marketed scheme to avoid stamp duty land tax, the knock-on effect of which could see the UK exchequer save up to £170m in lost revenue.
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efama calls on governments to sign up
The European Fund and Asset Management Association has written an open letter to “all interested governments and parties” encouraging all European governments to become FATCA partner countries, as with the G5.
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hmrc publishes consultation on bilateral
HM Revenue & Customs has launched a consultation seeking the finance and tax industry's views on the implementation of a bilateral agreement between the UK and the United States aimed at helping the UK comply with the US government's Foreign Account Tax Compliance Act (FATCA).
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hmrc launches new tax evasion task forces
HM Revenue & Customs has launched a series of new task forces today to tackle tax dodgers, one of which is aimed at the London-based legal profession.
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ernst and young fined in dubai and facing
International accountancy firm Ernst & Young has been fined by the Dubai Financial Services Authority, while it is also facing action from the Securities and Futures Commission of Hong Kong.
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french authorities publish trust filing guidelines
The French tax authorities have finally published long-awaited guidance confirming a filing date and providing details of what information must be disclosed by trusts with French connections.