Sovereign Report – Issue 19

Content Summary

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Download a copy of Issue 19

1. European News
   • European Commission ot update anti-money laundering Directive
   • Harrods owner loses tax appeal
   • Isle of Man extends protected cell structures to funds
2. USA & Caribbean News
   • BVI sets out procedures to restrict bearer shares
   • Caribbean Court of Justice to begin operations
   • IRS wins right to seek credit card information
3. Far East News
   • China issues report into economic impact of OFCs
   • Mauritius to reform financial services legislation
   • Niue to close offshore financial centre
4. Legal News
   • ECJ rejects different treatment for foreign shares
   • Privy Council applies Ramsay doctrine
   • FATF removes Guatemala from non-cooperative list
5. Fiscal News
   • EU Savings Tax Directive delayed for six months
   • Jersey outlines new corporate tax system
   • Agassi wins tax match with UK Revenue
6. Special Report
   • OECD revises information exchange in Model Tax Convention