crown dependencies to sign fatca agreements
The governments of Guernsey, Jersey and the Isle of Man have announced plans to negotiate partnership agreements with the US to implement FATCA.
Tax & Regulation
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celebs used tax breaks from shipwreck salvage
Celebrities and some of Britain’s most senior businessmen invested more than £110m into marine treasure hunts, which allowed them to avoid tax on millions of pounds, according to The Times newspaper.
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hmrc head of tax is targeted by protesters
Protesters gatecrashed a college at the UK’s famous Oxford University where HMRC’s former head of tax Dave Hartnett was giving a speech, according to this week’s Oxford Times.
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take that stars and anne robinson named
Three members of boy band Take That and BBC Watchdog presenter Anne Robinson have been named by The Times newspaper as four of about 2,000 people believed to have used a highly aggressive tax avoidance scheme based in the Channel Islands.
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swiss tax deals to go ahead as referendum avoided
Switzerland will not hold a referendum in November on deals with the UK, Germany and Austria which will see those countries tax secret bank accounts held in Switzerland, after opponents of the agreement failed to gather enough signatures to force a vote.
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legis group launches tax advice firm
Guernsey based Legis Group has launched a new tax service offering tax compliance and advisory services to individual private clients, owner-managed businesses and local trust and fund administration companies.
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eu parliamentary committee approves MIFID2
A key committee of the European Parliament yesterday voted unanimously to approve a compromise text updating the EU’s Market in Financial Instruments Directive, with implications for the life industry and securities markets.
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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.
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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.”