The UK’s double tax agreements (DTA) with Guernsey, Jersey, and the Isle of Man have been amended so that non-UK resident property developers will no longer be able to avoid paying income or corporation tax in the UK.
Aviva has announced two changes in its General Insurance division; while Deutsche Bank has appointed a chief country officer for Luxembourg. PwC has named a new global chairman, with Jersey Finance establishing a greater London presence.
While other offshore financial centers have suffered ratings downgrades of late, Lichtenstein has had its AAA rating affirmed by Standard & Poor’s.
The Jersey Financial Services Commission (JFSC) signed a landmark memorandum of understanding (MoU) with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) on Wednesday.
Jersey and Guernsey have both blamed a possible ‘Brexit’ for Standard & Poor’s recent ratings downgrade despite S&P pointing to the G10’s rising focus on low-tax regimes and the impact that may have on their financial services sectors as the driving force behind its decision.
BlueBay Asset Management has strengthened its high yield team; while Ascot Lloyd has nabbed the former chief executive of Cofunds for a non-executive role. Knadel and the JFSC announced board appointments and Barclays named a new chief operating officer.
Switzerland has signed joint declarations on the automatic exchange of information (AEOI), described as “FATCA on steroids”, with Jersey, Guernsey, and the Isle of Man.
Jersey and Guernsey will no longer appear on Italy’s tax blacklist, after the Italian parliament revised provisions in the country’s tax code relating to blacklists on corporate taxation and controlled foreign companies (CFC) rules.
The Jersey Financial Services Commission (JFSC) has announced changes to the structure, processes, and systems it uses to regulate the island’s international financial services industry.
HM Revenue & Customs said it has sent letters to customers of HSBC Jersey advising them to sign a declaration that they do not owe any UK tax on their offshore assets, placing some customers between the proverbial rock and the hard place.
As early adopters of the new global standard for the automatic exchange of information; Jersey and Spain signed a tax information exchange agreement (TIEA) on Tuesday.
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