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.
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.
Guernseys zero-10 corporate tax regime has been deemed harmful by the European Unions Code of Conduct Group on Business Taxation.
UK Chancellor George Osborne has increased the pressure on HM Revenue & Customs to catch companies and wealthy individuals evading tax.
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.
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.
The Hong Kong regulator has suspended a director of advisory firm Able Alliance International Limited, for the late filing of financial statements and making false claims.
The Isle of Mans Financial Supervision Commission has issued a warning in relation to Alpha Fund Management, a potentially fraudulent entity claiming to be located on the island.
The Spanish government last week approved its first ever trust tax amnesty for individual and corporate taxpayers.
The EU Code of Conduct Group is due to discuss Guernseys zero-10 corporate tax regime at its next meeting on 17 April, as the only one of the three Crown Dependency islands not to have received the Code Groups nod of approval for its zero-10 scheme last year looks to get it in 2012.
The Swiss federal government has issued arrest warrants for three German tax officials for their role in the purchase of banking information in 2010.
The Chartered Institute for Securities and Investment is introducing mandatory integrity and ethics tests for all its members, as part of its commitment to promote high standards in financial services.
