BVI Financial Firms Need To Develop New Niches
BVI Finance, the financial services industry promotional agency, has said the industry must actively adapt to target new opportunities and promote new offerings internationally.
ADGM Revises Pooled Fund Capital Req's
Abu Dhabi Global Market, the low-tax international financial center, has revised the capital requirements applicable to managers of collective investment funds, with effect from April 10, 2017.
ADGM Consults On Allowing REITs
Abu Dhabi Global Market, the low-tax international financial center, is consulting stakeholders on plans to allow the establishment of private real estate investment trusts.
Gibraltar To Offer Foundations
Gibraltar's Parliament recently passed a bill permitting the establishment of Private Foundations.
Gibraltar Acts To Preserve QROPS Status
Gibraltar has made new pension regulations to maintain its attractiveness as a jurisdiction from which to transfer UK pensions.
Australia Consults On Taxation Of Stapled Structures
The Australian Treasury has launched a consultation on the tax consequences of the re-characterization of trading income derived through the use of stapled structures.
Australian DPT Legislation Passes Senate
The Australian Senate has passed legislation to introduce a diverted profits tax from July 1, 2017.
Guernsey Funds Sector Grew In 2016
The total value of funds business in Guernsey grew by more than GBP28bn (USD32.5bn) last year.
New Zealand Explains Foreign Trust Disclosure Changes
New Zealand has published guidance on the increased disclosure requirements for foreign trusts with New Zealand-resident trustees.
Canadian Budget Focuses On 'Tax Fairness'
The tax measures contained in Canadian Finance Minister Bill Morneau's second Budget are focused on closing loopholes, cracking down on tax evasion and improving tax reliefs for the "middle class."
Jersey Regulator Issues AML/CTF Funds Guidance
Jersey's financial services regulator, the Jersey Financial Services Commission, has issued new anti-money laundering and countering the financing of terrorism guidance for Funds and Fund Operators.
More Tax Hikes For UK Taxpayers In 2017 Budget
The UK Budget, released on March 9, 2017, featured tax measures to, among other things, hike taxes on self-employed workers, further close avenues for legal avoidance, and defer mandatory digital tax reporting until April 2019.
ACOSS Submits Recommendations For Australian Budget
The Australian Council of Social Services has urged that the Government abolish ineffective tax concessions, introduce a sugary drinks tax, and scrap its company tax proposals.
MEPs Call For Wider Access To Beneficial Ownership Data
EU citizens would be able to view information in registers of beneficial ownership without having to demonstrate a "legitimate interest," under proposed amendments the Anti-Money Laundering Directive.
New Zealand Tax Changes Enter Into Force
A Bill including provisions to simplify New Zealand's tax processes, reduce compliance costs for smaller businesses, and tighten foreign trust disclosure rules received Royal Assent on February 21.