Hong Kong has tumbled down the list of most expensive locations for expats to live, as a weaker dollar continues to negate the impact of rising prices, according to the annual cost of living survey from ECA International.
Tax experts with American expatriate clients reacted with considerable interest yesterday to a new IRS clarification that appears to suggest more flexibility, with respect to penalties for failing to file tax returns and Foreign Bank Account Reports (FBARs), than previously had been assumed possible.
Experts may not agree on whether investing in Chinese businesses is a good idea at the moment. But for many multi-national companies, there is no disputing the need for at least one office on the mainland, typically in Shanghai.
Draft legislation published by HM Revenue & Customs, aimed at eradicating bad practice in the QROPS industry, but which also appears to introduce potentially damaging tax measures, has received a mixed reaction from the QROPS industry so far.
Vistra, a Geneva-based fiduciary and corporate services provider, has made its second acquisition in China, with the purchase of Cynosure.
BSI, the Lugano, Switzerland-based bank owned by Generali, has been granted a banking licence in Hong Kong by the Hong Kong Monetary Authority.
The UK Treasury has decided to postpone the publication of eagerly awaited draft legislation which would have established a statutory residency test.
International advisory company, AES International, has been ranked 11th in the Sunday Times Fast Track 100 list of the fastest growing UK companies.
Axa Investment Managers is to change the partner it uses for a joint venture in Asia and team up with Bank of India for its asset management business in the region.
The Monetary Authority of Singapore has taken regulatory action against 15 financial institutions, including Prudential Singapore and Citibank which both received significant fines.
Concerns are being raised about low staff morale at the UKs tax department affecting the level of service taxpayers receive.
Aviva is to pull out of the Middle East and has written to regional and international IFAs informing them of its decision to terminate its business partnership with a Dubai-based insurer.
