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Offshore Trusts Guide News

South Africa Legislates For Budget Tax Changes


The South African Revenue Services and the National Treasury on July 19 released for public comment draft legislation that would give effect to the tax proposals announced in the February Budget.

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Australia Improves Financial Services Tax Regime


The Australian Government has moved to clarify the tax treatment of foreign investors, following concerns over the practical operation of the Investment Manager Regime and the new tax system for managed investment trusts.

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Jersey Proposes Infrastructure Levy


Jersey is consulting on the introduction of a land development charge, to be called the Jersey Infrastructure Levy.

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NZ Foreign Trust Numbers Expected To Fall


Fewer than 70 out of 11,645 New Zealand foreign trusts have reregistered following the introduction of tougher disclosure and eligibility requirements, with only three weeks left to go before the final deadline.

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Abu Dhabi Tax-Free Zone To Launch Foundations


Abu Dhabi Global Market, the low-tax international financial center, is seeking feedback on its proposal to allow the formation of "foundations," a trust-like entity widely used in civil law jurisdictions.

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Australian Budget Targets Housing, Tax Compliance


Australian Treasurer Scott Morrison's 2017 Budget focused on measures to cool the housing market and crack down on tax avoidance.

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Australia Delays Action On Stapled Structures


The Australian Government has decided to extend a review into the taxation of stapled structures. It will not tackle the issue at the upcoming Budget.

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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.

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Australian DPT Legislation Passes Senate


The Australian Senate has passed legislation to introduce a diverted profits tax from July 1, 2017.

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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.

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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."

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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.

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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.

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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.

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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.

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