ailo calls for improvements to fatca
The Association of International Life Offices has written to the US Treasury seeking improvements to its proposed Foreign Account Tax Compliance Act.
Tax & Regulation
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brazil regulator acquits swim worldwide of licence
South America-based Swim Worldwide Financial has been cleared of breaking the terms of its licence, eight months after the Brazilian regulator put a block on it conducting certain investment activity.
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insurers and asset managers face costly
European insurance companies and asset management firms face a costly and arduous task in satisfying the requirements of the Solvency II regulations set to be implemented on 1 January 2014.
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ima calls for us Treasury to delay fatca
The Investment Management Association has written to the US Treasury asking for a delay to the implementation of its FATCA regualtions.
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us financial planners group says make do better
Building on the existing regulatory infrastructure for overseeing Americas financial advisers would be better than introducing new legislation of the kind introduced this week by House Finance Services Committee chairman Spencer Bachus and Rep Carolyn McCarthy, a group claiming to represent nearly 75,000 US financial planners said.
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us may join uk australia and singapore
US lawmakers have introduced new legislation aimed at boosting the standards of advice on offer from Americas advisory industry, following in the footsteps of the UK, Australia and Singapore.
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aegon uk canada life intl working with clients
Spokesmen for Aegon and Canada Life International report that they are working with their clients to accommodate those policyholders whose offshore bonds lost their tax-efficient status and have been closed to new business, in the wake of changes introduced earlier this month by the UK Budget.
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ireland in talks with us officials over fatca
Irish tax authorities are in discussions with their US counterparts over the possibility of entering into a “model agreement” for implementing Americas Foreign Account Tax Compliance Act.
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Guernsey follows Isle of Man and Jersey in seeing
Guernseys zero-10 corporate tax regime has been deemed harmful by the European Unions Code of Conduct Group on Business Taxation.
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osborne sets hmrc chief new tax evasion target
UK Chancellor George Osborne has increased the pressure on HM Revenue & Customs to catch companies and wealthy individuals evading tax.
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israel considering fatca deal with us
Israel is to seek a deal with the US over the pending FATCA regulations that increasingly have begun to concern Israeli banks, many of which have a large number of American clients, an Israeli media organisation is reporting.
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swiss account holders may be in for higher tax
A recently-agreed tax deal between British and Swiss tax authorities to collect tax on an anonymous basis from the Swiss accounts of UK-based individuals is about to get more expensive, an expert from one of the major UK accountancy firms specialising in looking after international clients is warning.