Micro News

Micro News

The Cayman Islands government announced that they have changed their anti-money laundering guidance, to explain the outsourcing of compliance commitments to third parties. It likewise affirms that customers' identities do not require to be checked at the point of transferring funds for low-risk situations…


BERMUDA: Substance legislation tabled

The Bermuda government have finalised legislation to be nominated for review before the EU Code of Conduct Group on Business Taxation. The Economic Substance Act 2018 Bill has been enforced in order to meet new 'economic substance' business taxation rules demanded by the group. The new bill will now…


France's regulations on withholding tax are in breach of EU treaties and have now had to quickly implement some precedent into national law. As per the C-575/17, Sophina SA, Rebellco SA and Sydro SA case; going forward any dividends paid by a loss-making parent require the immediate taxation charged…


As we wrote last week about the planned suspension of the UKs Tier 1 Investor Visa scheme, however less than a week after the unexpected announcement; the UK government have seemingly reviewed all loopholes satisfactorily and will reverse the planned suspension. Officials state that they still intend…


The UK will suspend the issuance of visas for investors of the highest level, which investments must be at least two million pounds ($2.55 million dollars). These measures are taken due to the intensified fight against organised crime and money laundering. Over the past two years, many wealthy people…


According to information provided by Scienсe Alert, Tehran may fall underground after some time. The results of the study conducted by German scientists indicate an annual soil subsidence by 25 cm in some areas of the city. The reason for this is the excessive consumption of water resources caused by…


The Cayman Islands government have released further guidance on the announced amendments to its anti-money laundering regime. The guidance hopes to elucidate and explain the outsourcing of compliance obligations to third parties. It also confirms that clients' identities do not need to be verified when…


Israel is currently enrolling in the international Financial Action Task Force (FATF) and has received the first official results from the countries assessment of its money laundering measures & processes. The FATF stated in the analysis that the jurisdiction is currently achieving good results, however…



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