Sovereign Report – Issue 15

Content Summary

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Download a copy of Issue 15

1. European News
   • IBM survey says private banks may be in terminal decline
   • Isle of Man to amend Companies Act
   • UK calls off sovereignty talks with Gibraltar
2. USA & Caribbean News
   • IRS crack down nets 1,200 taxpayers
   • Bahamas responds to the new regulatory regime
   • BVI passes amendment to the IBC Act
3. Far East News
   • Indian tax authority issues new rule on Mauritius residency
   • Vanuatu makes tax commitment to OECD
   • Hong Kong publishes Corporate Governance Review Phase II
4. Legal News
   • Revenue loses appeal on emplloyee benefit trusts
   • Gibraltar ruling on information exchange
   • UK Revenue defeated on IHT case
5. Fiscal News
   • South Africa declares exchange control and tax amnesty
   • OECD reviews changes to Model Tax Convention
   • Moodys approves new Cyprus tax system
6. Special Report
   • European Union Directive on Taxation of Savings