Sovereign Report – Issue 48
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Content Summary
- European News
- Cyprus to begin accepting online betting applications
- UK votes to leave the European Union
- UK Budget tax changes heralds a further clampdown on avoidance
- Swiss parliament approves corporate tax reform bill
- France opens Register of Trusts to public access – then suspends it
- UK government targets foreign owners of UK property
- Gibraltar’s new Limited Liability Partnerships Act comes into force
- New EASA rules come into force
- EC proceeds with common property regime for international couples
- USA & Caribbean News
- US Treasury rules to increase financial transparency
- Cayman to repeal Confidential Relationships (Preservation) Law
- Julius Baer signs deferred prosecution agreement with the US
- Canada to tax Florida and Delaware LLPs and LLLPs as corporations
- US court dismisses FATCA challenges
- Middle east and Asia
- India to tax Mauritius and Cyprus investments from April 2017
- New Hong Kong tax concessions for corporate treasury centres
- South Africa revises Special Voluntary Disclosure Programme
- China’s Unified Business Certificate
- Legal News
- UBS agrees to US tax authority’s Singapore disclosure request
- Swiss bank in serious breach of money laundering regulations
- Spanish and French tax authorities raid Google’s offices
- Former model secures £75 million divorce settlement in UK Court
- High Court dismisses claim over division of Liechtenstein assets
- Guernsey court refuses to set aside “mistake” over £500,000 tax charge
- Fiscal News
- Singapore and Hong Kong sign up to OECD BEPS project
- European Council agrees draft rules on corporate tax avoidance
- UAE signs tax treaty with UK and protocol with Singapore
- Five more nations agree to automatic exchange of information
- G5 agree to automatic exchange of beneficial ownership information
- China completes transition to VAT
