News

UK: Charity Commission impose changes to SORP requirements

The Charity Commission has made some minor changes to the Annual Return 2016 which all charities must complete. However, the Commission has stopped asking for campaign expenditure details.


Comparatively, Singapore has a significantly lighter tax burden

The government of Singapore imposes a much lighter tax burden on the economy compared to the majority of other developed jurisdictions.


US Trust Law: Executors given more time to manage estates

To fulfill their new obligation, executors of US estates have been given more time to report the beneficiary’s interest for each individual's property in the estate.


Tax planning measures implemented in Brazil

A requirement for taxpayers to submit a declaration form by September 30th each year with details of any transactions that may result in tax savings is stated in a Provisional Measure 685/2015 published in Brazil’s Official Gazette last July.


Presidential Candidate to sue US government over FBAR and FATCA

Mr Rand Paul, Senator of Kentucky and Presidential Candidate plans to sue the IRS declaring that FATCA (Foreign Account Tax Compliance Act) and FBAR (Foreign Bank Account Reporting) are unconstitutional.


India and the Seychelles sign automatic exchange of information agreement

Last week, the signing and ratification of an agreement between India and the Seychelles for exchanging information regarding taxes has been approved by the Union Cabinet, a crucial factor for enabling the government to fight "black money."


Full compensation for defrauded UK holiday home buyers

According to the England and Wales High Court’s ruling in the AIG Europe case, those that bought holiday homes abroad and lost their investments through commercial failure and fraud will most likely be able to recover their entire losses.


Administrative Court in Cyprus due to open in December

After parliaments approval, the Administrative Court in Cyprus is expected to start its operation by December as the justice Minister Ionas Nicolaou has revealed.