Jersey budget anti tax avoidance rules
Jersey’s 2013 Budget, which was approved yesterday by the States Assembly, will include measures to prevent its residents from avoiding tax through the use of Jersey companies from January 1.
Tax & Regulation
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gaar draft to be published this month as
Tax evasion and aggressive tax avoidance were once again targets of the UK Chancellor George Osborne when he gave his Autumn Statement this afternoon.
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Switzerland initials fatca agreement with US
Switzerland and the US initialed an agreement giving exemptions to the implementation of the tax legislation FATCA yesterday in Washington, D.C.
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eight countries in which untraceable shell
Widespread media focus on offshore financial centres, particularly Jersey, in recent weeks has focused attention on their possible use by criminals to hide and launder money…
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crown dependencies meet uk treasury officials
The Governments of Jersey, Guernsey and the Isle of Man issued statements late this afternoon saying that they had met with UK Treasury officials about the possibility of extending the principles behind FATCA "to an exchange of information” with Britain.
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spanish authorities to scrutinise accounts
Spain’s tax office has won the right to see the 2006 and 2007 bank account details of those patron’s of Spain’s largest department store group, El Corte Inglés, who ran up 30,000 or more in charges on their store cards during each or both of those years, International Adviser has learned.
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mexico to allow passive Ucits next year
Mark Saluzzi, president of the Association of the Luxembourg Fund Industry (ALFI) expects Mexico to authorise passive investments for Ucits in the first quarter of 2013.
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investigation finds sham offshore directorship
A joint investigation by The Guardian newspaper, BBC Panorama and the Washington-based International Consortium of Investigative Journalists has revealed a thriving trade in offshore tax evasion in a series of articles and films which throw a light on the unscrupulous behaviour of some UK based tax specialists.
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iom mulls zero ten future for intl life cos
International life companies on the Isle of Man may face losing their special zero-10 tax status when the Government’s long awaited tax strategy is due to be announced at the Tynwald sitting on December 11 and 12.
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Landmark german swiss tax deal hits the rocks
A landmark tax deal between Germany and Switzerland has been blocked by Germany’s upper house of parliament, the Bundesrat.
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hmrc sends out tax avoidance warning letters
HM Revenue & Customs is sending letters directly to 1,500 people who it believes have signed up to one particular avoidance scheme.
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british government rumoured to be planning son
Britain’s overseas territories, including the Crown Dependencies, Gibraltar and the Cayman Islands, are expected to be seeking official confirmation with some urgency of a report that the UK government is planning a ‘son of FATCA’ aimed at obtaining information on all accounts held by British taxpayers.