Micro News

Micro News

Last month, India's central Ministry of Corporate Affairs issued new regulations prescribing detailed requirements for identifying the individuals who hold ultimate control over a company. The Companies Significant Beneficial Owners Regulations 2018 require Indian company or business Beneficial Owners…


Last week, a London-based Sovereign Wealth Fund management company heard the results of a court case against its former chief executive officer over allegations of corruption and fraud. Consequently, the investment company is looking to recover damages in the range of GDP £20-$25 million, according…


The Chinese Government have recently published a new draft that will amend the current regulations on the country’s individual income tax regime; there will also be a test to assess tax residency based on a day-by-day counting method for public consultation. The new regulations will make it much easier…


With the deadline merely two and half months away, law firms and service providers are urging their UK-based clients and those with UK residency to organise and legalise their tax affairs dating back to as long as 20 years. The UK HMRC has released new guidance on the obligation to correct offshore…


The Cayman Grand Court has dismissed a USD $9 billion fraud claim in the case of Ahmad Hamad Algosabi & Bros Company v Al-Saneia, one of the largest corporate collapses of the financial crisis. The dispute concerns a form of fraud whereby a supposed Business Owner entices new investors and pays profits…


The international Finance Action Task Force has issued draft guidance documents setting out a risk-based approach to money laundering measures in the life insurance and financial securities sectors. The risk-based approach is central to the effective implementation of the FATF Recommendations. A risk-based…


The OECD has published a new set of more than 3,200 bilateral exchange relationships established under the Common Reporting Standard Multilateral Competent Authority Agreement - an increase of more than 500 since April 2018. All 124 participating jurisdictions are due to exchange CRS information in…


The UK Government have released a draft finance bill designed especially for tax gains earned by non-UK residents from 2020 in the following assets:  Commercial UK-based immovable property. Residential UK-based immovable property. Indirect disposal of UK-based property. Additionally, the Annual…


The next wave of tech legislation is being introduced to new jurisdictions in Europe and the Middle East. The Malta government has introduced 3 new bills regarding cryptocurrencies and blockchain technology; making Malta the first country to establish laws specifically designed to attract blockchain…



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