Canadian prime minister Justin Trudeau has vowed to do a “better job” tackling tax evasion and tax avoidance following a high-profile exposé into how wealthy individuals used an Isle of Man-linked offshore scheme to avoid paying C$130m (£79m, $97m, €91m) in taxes.
Aetna International is spearheading an expat push into Canada with plans to unveil a string of new offices across the country.
UK pension transfers to Canada have been effectively blocked after the three remaining Canadian recognised overseas pension schemes (Rops) were removed from HM Revenue & Customs’ (HMRC) list on Wednesday.
Details of bank accounts belonging to more than 315,000 Canadian residents were shared with the US Internal Revenue Service (IRS) in 2016 under the Fatca agreement, more the double the previous year.
Canadian taxpayers wanting to use voluntary disclosure programmes (VDP) should have to identify advisers who helped them avoid paying tax, the Canada Revenue Agency’s (CRA) Offshore Compliance Advisory Committee has recommended.
CI Financial Corp is to acquire an 80% stake in Australian investment fund manager Grant Samuel Funds Management (GSFM), in a move that will see the Canadian wealth manager also gain access to New Zealand.
To be introduced in the UK in April 2017, the Lifetime Isa (Lisa) is intended to incentivise people to save for their first home, their retirement, or both. But research published by the independent Pensions Policy Institute (PPI), sponsored by Royal London, compares the tax-free savings scheme with its international counterparts and highlights some challenges…
Canada’s Revenue Agency (CRA) has audited 3,000 electronic funds transfers to the Isle of Man, made by around 800 Canadian taxpayers totalling C$860m (£472.2m, $672.5m, €593.4m).
The Cayman Islands Monetary Authority (CIMA) said it is confident the European Securities and Markets Authority (ESMA) would complete its assessment of a second wave of nations for inclusion into the AIFMD passport system by June 30.
Net revenue was down by a quarter at Canada’s third largest insurer by assets, Sun Life Financial, during the fourth quarter and full year of 2015. The company also incurred a C$63m (£31.1m, $45.3m, €40.2m) restructuring cost related to the closure of its US wealth business.
A double taxation agreement (DTA) has been signed by Canada and Taiwan, limiting the withholding tax rate for dividends, interest, and royalties.
Sun Life Financial International, part of Canada’s giant Sun Life Financial Inc, said it will no longer accept new applications for two of its key wealth products — Sun Secured Advantage Plus and Sun Investor.
