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Sovereign Report – Issue 45

Download a copy of Issue 45

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Content Summary

  1. European News
    • UK Pension Schemes Act 2015 receives Royal Assent
    • Cyprus citizenship-by-investment scheme nets €2 billion
    • Sovereign Trust Cyprus gains Administrative Services Provider licence
    • European Parliament adopts Fourth Anti-Money Laundering Directive
    • Isle of Man progresses regulation for digital currencies
    • Swiss Federal Council adopts dispatch on automatic information exchange
    • Gibraltar consults on Personal Pension Schemes regulation
  2. USA & Caribbean News
    • St Kitts & Nevis to tighten up Citizenship-By-Investment programme
    • BVI introduces new criminal offence of failing to keep trust records
    • UK requests timetable for central registers from Overseas Territories
    • First Swiss banks settle under US Tax Programme
    • BVI looks to pursue new direction
  3. Far East News
    • New “reportable arrangement” rules for South African tax purposes
    • Dubai opens Wills and Probate Registry
    • Revised Mauritius-South Africa tax treaty finally comes into force
    • Hong Kong Budget sets out proposals to boost financial centre
    • Mauritius and Seychelles both sign Multilateral Convention
    • UAE signs FATCA agreement with US
    • DWTC converted into Free Zone
  4. Legal News
    • UK Supreme Court allows taxpayer appeal in LLC case
    • UK High Court allows widow to seek husband’s “secret assets”
    • Court of Appeal awards disinherited woman one-third of mother’s estate
    • Cayman Appeal Court sets aside Weavering decision
    • South Africa’s Constitutional Court upholds entrepreneur’s exit charge
  5. Fiscal News
    • G7 leaders reiterate commitment to automatic exchange
    • UK Summer Budget 2015: the key announcements
    • Seven new countries sign up to OECD Standard for automatic exchange
    • EU releases corporate tax reform plan and pan-EU “blacklist”
    • Swiss reject inheritance tax proposal

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Tel: +350 200 76173