Sovereign Report – Issue 44
Content Summary
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- European News
- Gibraltar announces legislative and regulatory overhaul
- Portugal changes rules on tax residency and taxation of trusts
- Fourth European AML Directive published in full
- Swiss Federal Council consults on international exchange of tax information
- San Marino Aircraft Registry ratifies Cape Town
- Cyprus relaxes restrictions on capital movement
- Italy opens voluntary disclosure programme for foreign assets
- Russia introduces “de-offshorisation” Law
- USA & Caribbean News
- Obama proposes tax on overseas profits of US firms
- Canada launches immigration pilot programme for HNWIs
- IRS opens FATCA data exchange service
- Cayman stands firm on beneficial ownership regime
- Cayman Grand Court (Amendment) Law comes into force
- BVI brings Arbitration Act 2013 into force
- Far East News
- Abu Dhabi financial free zone selects English common law
- Microsoft fined $137 million for “tax evasion” in China
- China announces new measures on FTZs and pilot reforms
- Dubai proposes new succession rules for non-Muslims
- MEBA makes debut at Al Maktoum
- Singapore to adopt OECD information exchange standard by 2018
- Legal News
- UK Revenue loses CGT dispute over Reynolds painting
- Dutch Tax Court confirms ECJ decision on incompatibility of fiscal unity regime
- German Court orders amendments to inheritance tax exemptions for family-owned firms
- The UK’s highest high-net-worth divorce settlement
- Credit Suisse ordered to pay US$1.8 billion to finalise US guilty plea
- Fiscal News
- EU signs off on enhanced parent=subsidiary directive
- European Commission extends enquiry on tax rulings to all Member States
- UK ramps up tax measures in Autumn Statement
- Swiss voters retain “lump sum” tax regime for wealthy foreigners
- UK agrees to limit patent box regime
- OECD says tax revenues are rebounding from the financial crisis
- and introducing…
- Simon Garveen is…Sovereign Man
