Sovereign Report – Issue 41
Content Summary
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- European News
- EU plans to remove banking secrecy in crackdown on tax evasion
- Cyprus agrees deal on €10bn bailout
- Guernsey introduces Image Rights Register and Foundations
- Malta introduces new Global Residence Programme
- PM says UK territories should not be called “tax havens”
- Spain to drop matriculation tax on yacht charters
- USA & Caribbean News
- UK’s dependencies and territories agree to exchange information
- TCI offers new Permanent Residence Certificates
- Switzerland and US agree deal on tax dispute with Swiss banks
- OECD members more willing to provide “shell” companies
- US delays FACTA deadline by further six months
- BVI enacts new Trade Marks and Aircraft Mortgaging laws
- Far East News
- Singapore strengthens international cooperation framework
- HK and Singapore move to dampen property markets
- HK passes trust law and exchange of information reforms
- South Africa signs new tax treaty with Mauritius
- Free zone firms need DED licence to operate in Dubai
- Finance Ministers agree plans for Asia Region Funds Passport
- Legal News
- UK Supreme court rules against oil trader in divorce case
- Billionaire toymaker pleads guilty to Swiss tax evasion
- UK Tribunal deems painting a “wasting asset”
- Canadian Supreme Court rules on tax residency of a trust
- Italian designers receive jail sentence for tax evasion
- UK Appeal Court rejects stamp duty avoidance scheme
- Fiscal News
- G20 sets automatic exchange of information as new global standard
- France adds three “havens” to its offshore blacklist
- Netherlands signs new tax treaty with China
- Canadian Supreme Court rules on tax residency of a trust
- G20 adopts action plan against “base erosion and profit shifting”
- German court imposes gift tax on trust distributions
- Portugal hikes taxes on investment income and assets
- Special Report
- Inheritance tax U-turn: expats must plan ahead
