News

Oil profits have once again hit rock bottom

Despite being notoriously lucrative in the business world, the oil business has nosedived in the past year. Over the weekend the latest results were released and look to be worse than expected.


HMRC will apply tax evasion legislation to all overseas jurisdictions

HM Revenue & Customs (HMRC) will be clamping down on anyone evading tax, by declaring overseas income and gains will apply to income from all jurisdictions abroad and not just income and gains who have omitted to sign up to the Common Reporting Standard (CRS) as originally arranged.


Price of gold hits 5 year low

Gold rate plummeted to 4%; it’s lowest in over 5 years as of this week, with the rates of platinum also sinking to 5%, which is its weakest rate since 2009 as investors sell off their minerals and precious metals.


Experts respond to the EC publishing "blacklist" countries

Recently, the European Commission (EC) published a list of 30 'non-cooperative' jurisdictions which it claims to not meet its standards of transparency, exchange of information, and fair tax competition.


Prince in Saudi Arabia will donate his $32B fortune to charity

Last week, Saudi Arabia's billionaire Prince Alwaleed bin Talal vowed to donate his entire $32-billion (€28.8-billion) fortune to a variety of upcoming charitable projects in the next few years.


The FATF clarify the de-risking regulation

De-risking is where financial institutions end or limit business relationships by using classes of client. It is a complicated subject that extends beyond anti-money laundering (AML) and counter-terrorist financing (CFT).


OECD: Welcomes EU action plan to combat tax evasion

The Organisation for Economic Co-operation and Development (OECD) has shown its support for the adoption of legislation by the EU regarding its action plan to help combat corporate tax avoidance.