News

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.


The International Monetary Fund released a statement saying they are happy with Saudi Arabia and other Gulf oil exporter’s actions taken in an effort to repair damage to their national finances as the recent drop in crude prices have significantly reduced their export revenues.