Cayman Islands will abolish secrecy legislation & extend BO information exchange

The Cayman Islands Government visited London with plans to establish deals with various jurisdictions, similar to the agreement it has with the UK regarding the exchange of Beneficial Ownership (BO) information and to ultimately abolish the countries notorious secrecy laws.

India finally ends Capital Gains Tax loophole with Mauritius

Finally, after many years of discussions, India has decided to change its double-taxation treaty (DTT) laws with the Republic of Mauritius.

Greece pass controversial bills to meet EU bailout terms

This week Greek lawmakers passed a number of unpopular bills relating to tax pension reforms in hopes that this move will encourage EU creditors to reward the bailout agreement funds.

Asian stock market figures incites fear for global economic growth in 2016

The Asian stock market showed an overwhelming drop across the board yesterday after a disappointing US employment report created fears regarding the fundamental power of the globes largest economy and worse than predicted trade figures from China.

US Court rules against FATCA disclosures

The US government has supported the dismissal of a case bringing several challenges to the FATCA (Foreign Account Tax Compliance Act) and the FBAR (Report of Foreign Bank & Financial Accounts) regimes.

Cayman Islands delay FATCA & CDOT reporting deadlines

Key reporting deadlines for 2016 that Cayman Island- based financial institutions must comply with regarding UK and US exchanging of information have been delayed by approximately 6 months.

Singapore joins OECDs multilateral tax convention

On May 1st 2016 the OECD (Organisation for Economic Cooperation and Development) implemented a convention on Mutual Administrative Assistance relating to tax matters in Singapore, effectively establishing these requirements on a multilateral level.

Beneficial Ownership information exchange scheme incites international support

UK Chancellor George Osborne has announced that over 20 countries have signed up to a new pilot scheme for exchanging information held on beneficial ownership registers, as well as trust registers.