sovereign Report – Issue 4

Content Summary

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1. European News
   • Gibraltar: New Ordinances
   • UK crown dependencies: UK concludes Edwards review
   • FATF: Austria to be suspended
   • Isle of Man: Green Paper
2. USA & Caribbean News
   • UK Overseas Territories: KPMG to review OTs
   • Bahamas: Purpose Trusts Bill
   • Turks & Caicos: Proceeds of Crime Ordinance
   • United States: Anti-money laundering strategy
3. Far East News
   • Mauritius: India clarifies Mauritius bona fide resident status
   • Hong Kong: Consultation on new securities & futures bill
   • Hong Kong: HSBC appointed as US$ settlement institution
   • Singapore: New Singapore Exchange opens
4. Legal News
   • Cayman Islands: Trusts
   • Isle of Man: Trusts
   • UK: Mareva injunction
   • Mauritius: Disclosure
   • Hong Kong: Tax avoidance
5. Fiscal News
   • OECD: Tax havens
   • UK: Information exchange
   • FSF: Assessment of OFCs
   • EU: Alternative to withholding tax
   • Cyprus: Tax treaty with Belarus
6. Special Report
   • Taxation of e-commerce
   • Michael Foggo of Sovereign Trust International examines e-commerces impact on national revenue bases