Sovereign Report – Issue 42
Content Summary
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- European News
- Malta amends Maltese Citizenship Act at behest of EU
- Channel Islands Aircraft Register takes off
- Austria and Luxembourg accede to revised EU Savings Tax Directive
- MEPs back public registers for companies, trusts and foundations
- Isle of Man registers 500th aircraft
- Gibraltar amends tax regime in line with EU code of conduct
- USA & Caribbean News
- Credit Suisse pleads guilty in US as more than one-third of Swiss banks accept US amnesty offer
- Panama’s tax system to remain territorial
- IRS issues first list of participating financial institutions under FATCA
- US to treat jurisdictions with FATCA IGAs in substance as IGAs in effect
- Antigua launches “citizenship by investment” programme
- Singapore initials IGA with US, Hong Kong signs TIEA
- Far East News
- Hong Kong trust reforms finally come into force
- Australia launches “Project DO IT” offshore amnesty
- Abu Dhabi financial free zone signs first agreement
- China launches Shanghai free trade zone
- Mauritius agrees to include LoB clause in new India tax treaty
- The Seychelles creates new Financial Services Authority
- Legal News
- High Court rules in “most complicated financial remedy case”
- US trial of former UBS wealth management head delayed extradition
- Isle of Man court gives ruling on bank confidentiality
- BVI Court rules on ancillary relief proceedings and forum
- Bayern Munich president jailed for tax evasion
- Trustee’s refusal to disclose information “wholly without merit”
- Fiscal News
- G20 endorses new standard for automatic exchange of tax information
- OECD issues first tranche of “transparency ratings”
- New anti-avoidance measures to the fore in UK Budget
- UK unveils proposals for public register of beneficial ownership
- Portugal’s “Golden Visa” proves popular with Chinese
- Special Report
- Alternative Citizenship and Residency
