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Sovereign Report – Issue 46

Download a copy of Issue 46

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Content Summary

  1. European News
    • Cyprus passes tax reforms designed to attract foreign investment
    • ESMA assesses six non-EU nations for AIFMD passport
    • UK delays register of “people with significant control”
    • Liechtenstein Disclosure Facility to be closed at year-end
    • Gibraltar consults on introducing Private Foundations
    • UK Treasury issues consultation on ending permanent non-dom status
    • New EU Regulation on Successions brought into force
    • Portugal resumes “Golden Visa” immigration programme
    • Guernsey amends Companies Law
  2. USA & Caribbean News
    • More banks strike deals under US Swiss Bank Programme
    • US court dismisses legal challenge to block FATCA data exchange
    • Cayman Companies (Amendment) Law 2015 comes into force
    • US extends FATCA IGA information exchange deadline exchange deadline
  3. Far East News
    • India’s offshore tax amnesty recovers just US$575 million
    • China moves to simplify access to double tax treaties
    • South Africa proposes amendment for tax information exchange
    • Hong Kong proceeds toward automatic exchange of tax information
    • Dubai issues decree to create new Free Zone Council
    • India and Mauritius reach consensus on new tax treaty
  4. Legal News
    • UK Supreme Court sets aside financial orders based on fraudulent dishonesty
    • HMRC issues guidance on LLCs in wake of recent Anson decision
    • ECJ rules on treatment of gifts from a foundation to foreign beneficiaries
    • ECJ finds French dividend treatment to be an unjustified interference
    • Jersey Royal Court considers ethics of “aggressive” tax avoidance
    • Canadian Court dismisses challenge to US FATCA tax data exchange
  5. Fiscal News
    • US signs IGA Competent Authority Arrangements with UK and Australia
    • EC finds Fiat and Starbucks tax deals illegal under EU state aid rules
    • OECD issues final BEPS reports
    • OECD issues new compliance ratings on transparency
    • Luxembourg announces tax amnesty for undisclosed assets
    • UK proposes new “special measures” regime for tax avoiding companies

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Tel: +350 200 76173