News

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.


Does Cyprus have a clean Anti Money-Laundering record?

After the 2013 banking crisis and the scrutiny on Cyprus’ business deals with Russia, Cyprus now comes under peer review as per the Financial Action Task Force (FATF) an initiative established by the OECD.


Latvian banks no longer accepting clients from “tax haven” jurisdictions

In an effort to move in line with OECD (Organisation for Economic Co-operation and Development) member state requirements and the FATF (Financial Action Task Force), Latvia is hopeful to follow suit after Estonia’s acceptance to become an OECD member state.


Swiss bank ordered to disclose records of Singapore account

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.


OECD proposals for changes to tax legislation are imminent warn BEPS

The OECD (Organisation for Economic Co-Operation and Development) started a huge globally wide investigation into tax avoidance by multinational companies. As it has been a few years since the initiative began, substantial changes have been made to the international tax system which doesn’t look to be stopping in the coming years. Certain amendments will affect all businesses everywhere, not only international conglomerates.