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Westminster Magistrates Court has released Russian entrepreneur and businessman, Mr Oleg Tinkov on bail while he fights extradition to the US on charges of failing to disclose income in his…
Category: Micronews
Private UK International Law Bill to Replace EU Directives: Brexit
The UK government has introduced a Bill allowing it to enact into domestic law any new international agreements it makes on private international law, now that its departure from the…
Companies Relocating Within EU Cannot Offset Accrued Losses Anymore
The Court of Justice of the European Union (ECHJ) has held in AURES Holdings (C-405/18) that acompany which relocates from one EU Member State to another cannot take its previously…
Cayman Islands Releases New AML Guidance Prevention
The Cayman Islands Financial Reporting Authority has published three new guidance notes on money laundering prevention. The implementation comes following the recent completion of a national risk assessment that was…
New Trustee Rules in Court Rulings Threaten Non-Resident UK Trustees
Recent obligations imposed by an UWO (an unexplained wealth order) may conflict with the trust confidentiality laws in established in offshore jurisdictions. The England and Wales Court of Appeal’s decision…
Malta Restricts Access to Trust & Foundation Beneficial Data
The Government in Malta has revised its beneficial ownership laws to limit access to centrally held data on Maltese express trusts, institutions and associations to individuals with a ‘legitimate interest’.…
Singapore 2020 Budget Extends Tax Relief on the Disposal of Shares
Singapore’s 2020 budget has announced an exemption to the corporate income tax exemption for gains from the sale, transferal or disposal of shares in the city-state until the 31st of…
UK Diverted Profits Tax Earns Government 1 Billion Extra in Uncollected Tax
The UK’s diverted profits tax (DPT), introduced in 2015 to tackle profit diversion by multinational companies, has collected more than GBP £5 billion in extra tax. The figure includes settlements…
Is US Estate Tax Working at 40%? Experts Find Average US Payment Equal to 2.2%
A Brookings Institution research paper published this week estimates that Americans will inherit USD $756 billion this year, paying on average only 2.2% tax on that income in spite of…
Can the World Superpowers Agree on a Universal Digital Taxation Scheme?
A paper by the UK House of Commons’ research department examines the prospects for introduction of the promised digital services tax (DST) from April 2020, in the context of wider…