Micro News

The England and Wales High Court’s commercial division has decided that Siman Povarenkin, had residency and domicile in England for court jurisdictional reasons. Moreover, Povarenkin spends the majority of his time in Russia, where most of his businesses are established. During school term-time, Povarenkin’s…


The virtual currency Bitcoin is now split into two different parts which are the original Bitcoin and the new Bitcoin Cash. Customers that have the original Bitcoin should now collect the equivalent amount of Bitcoin Cash. However, this causes complicated questions regarding how it is to be declared…


The Customs and Border Protection service (CBP) in the United States has confirmed that their employees have the authority to legally confiscate and search any electronic devices from travellers of any nationality. According to The Washington Times, the US Customs and Border Protection are seizing 82…


The Finance Ministry in New Zealand has revealed its final decision on motions to tackle profit-shifting by multinationals. The relative procedures will be incorporated in a bill that will be introduced by the end of the year in order to become part of the legislation by July 2018. Notably, the referred…


Extra taxes on high-net-worth individuals will now cover the reduced corporate income tax rate of 25%, as proposed by the Belgian government. This will include the introduction of a 0.15% annual tax on taxes on reimbursed share capital and on securities accounts. The new tax will also involve the continuation…


Swiss resident, Susanne Ruegg Meier, has pleaded guilty to assisting over 1,000 US citizens evade between USD $3.5-9.5 million in tax from the Internal Revenue Service (IRS) between 2002-2011. According to Bloomberg, Meier pleaded guilty on Wednesday 19th of July in federal court in Alexandria, Virginia.…


Former partner in Jersey-based Strachans accounting partnership, Philip Jepson Egglishaw, has been arrested by the authorities in Italy on May 3rd 2017 in his attempt to cross the border after his holiday. The partnership was the main focus of the ATO’s Operation Wickenby into wealthy Australians who…


Switzerland have now been asked by Milan based investigators to release the names of Italian residents who currently have undeclared bank accounts at Credit Suisse. The demand for administrative help involves up to 10,000 bank accounts that enclose an approximated amount of USD $7.9 billion.   According…


The UK’s First Tier Tax Tribunal has stated that the Jersey businesses incorporated to put the tax scheme into action were resident in the UK. The tribunal have decided that the decisions must have been made under the control of the UK parent company as the board meetings had no financial justification…



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