Sovereign Report – Issue 43

Content Summary

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Download a copy of Issue 43

  1. European News
    • UK publishes draft Bill on “beneficial ownership”
    • Cyprus brings new Alternative Investment Funds Law into force
    • Switzerland amends key law on foreign requests
    • HMRC to miss target unless LDF sees “dramatic” pickup
    • UK regulator withdraws “high risk country” list
    • Gibraltar launches its first stock exchange
    • European Council reaches final agreement on extending mandatory automatic exchange
    • UK doubles minimum investment for Tier 1 visa to £2 million
  2. USA & Caribbean News
    • US Foreign Account Tax Compliance Act comes into force
    • BVI government reviews direction of financial services
    • US acts to rein in corporate tax Inversions
    • Cayman introduces director registration regime
  3. Far East News
    • Hong Kong and Macau commit to new OECD information exchange standard
    • Dubai introduces Qualified Investor Funds
    • Qatar financial centre offers new tax reliefs
    • China issues new rules on reporting foreign participations
    • Dubai allows transfer of title to company as a gift
    • Seychelles, Singapore sign double tax treaty
  4. Legal News
    • UK High Court finds inheritance tax liability on bequest to a Jersey trust
    • ECJ rules on application of “free movement of capital” to Overseas Territories
    • ECJ strikes down Dutch fiscal unity rules
    • Italian Supreme Court overturns Dolce and Gabbana tax convictions
    • Former senior Swiss banker cleared on US tax charges
  5. Fiscal News
    • OECD progresses move to new global standard for Automatic Exchange of
    • Hong Kong sign tax treaties with South Africa and South Korea
    • Netherlands signs new tax treaty with China
    • Russia excludes Malta from black list of offshore jurisdictions
    • EU to investigate corporate tax codes in Ireland, Luxembourg and the Netherlands
    • Portugal introduces new Local Lodging Registration requirements
    • Portugal hikes taxes on investment income and assets
  6. Special Report
    • Inheritance tax U-turn: expats must plan ahead
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