Published on: 24/10/2016
// Jurisdiction: China // Topic: Money Laundering and Terrorist Financing, Online Banking, Tax Fraud
China has announced new measures in order to mitigate risks brought about by illegal activities in the online banking for the development of the Chinese finance sector, in a newsletter issued by the Chinese State Council earlier this month.
Published on: 21/10/2016
// Jurisdiction: EU, Global // Topic: G20 Summit, Taxation
The OECD was given a commendation from Finance Ministers & G20 Leaders to continue work on solutions to support increased certainty in the tax system in order to promote balanced growth, and increase trade and global growth.
Published on: 20/10/2016
// Jurisdiction: Hong Kong, South Korea // Topic: Tax Law, Tax Powers
The agreement has been signed since July 2014 and negotiations have been underway since then.
After approval procedures were completed in both South Korea and Hong Kong, the tax agreement came into effect from the 27th of September 2016. It will now officially be in force in Hong Kong for any taxation…
In 2017 the UK government is planning non-domiciled tax changes and many people may now have to reconsider their options.
The majority of lawyers and trust experts are planning to limit their holidays because of upcoming changes in tax rules for wealthy foreigners in 2017.
In April 2017 thousands of…
Published on: 13/10/2016
// Jurisdiction: Singapore
The FATF have recently conducted an assessment of Singapore’s AML/CTF (anti-money laundering and counter-terrorist financing) regulations. The valuation concludes a comprehensive evaluation & assessment of the efficiency of Singapore’s current system and ensures the islands level of compliance is in…
Mr Shri Arun Jaitley, India's Finance Minister has stated that the Indian Government is currently working towards a target deadline of April 1st 2017 for the effective implementation of Goods and Services Tax (GST).
The Finance Minister stated that the introduction should be fully established by the…
The 2016 Small Business Conferences were held in London & Nottingham last week, and a small snippet of highlights regarding SMEs have been released by the AIA.
The outcome of the 2016 SME highlights have shown very little changes from 2016 even though the UK Government announced a number of SME-friendly…
Both residential & commercial property valuations in the UK are set to stay constant or drop over the next 6 months, in spite of the relatively long-term situation of demand surpassing supply, a UK Finance Minister has reported.
Out of the 84 surveyed property businesses, 55% felt that Stamp Duty Land…
Published on: 6/10/2016
// Jurisdiction: EU, UK // Topic: Economic Forecast, EU economy
Philip Hammond, the new Chancellor of the Exchequer has stated that the fiscal policies in the UK that were outlined by George Osborne were correct for that time in the UK. However, they had to be changed as there will no longer have a surplus target at the end of this parliamentary period.