News

The federal tax agency in Brazil have announced that any Brazilians holding unreported offshore assets located in Brazil will be eligible to declare the asset between April 4th and October 31st in exchange for a fine and no criminal proceedings in a government amnesty program.


10 firms in Singapore have each been fined up to almost half a million Singapore dollars by the Competition Commission of Singapore (CCS) in what is the first official instance of anti-competition in the financial services sector.


Asian casinos push for betting license in Cyprus

As reports for 2016 emerge regarding the slowing economy in China, coupled with the recent attempts to combat corruption in Asian gambling companies, they are now seeking new jurisdictions to incorporate.


This week, Parliament in Singapore passed an amendment to the Economic Expansion Incentives Act, which will extend the maximum potential tax relief period for companies if they base their long-term operations in Singapore, which will effectively increase incentives for more direct foreign investment into the economy.


The IRS (Inland Revenue Service) in the US has ordered a subpoena which enforces a court order for the Swiss bank UBS to disclose records on a Singapore bank account owned by an American currently residing in China.