News

G7 & OECD: US & EU International Tax Consolidation

Finance Ministers of the G7 have officially voted to support the OECD's proposed new rules for the taxation of multinational conglomerates and businesses, using revisions of existing fund allocation and relationship rules, as well as using new global minimum tax regulations.


Virtual Currencies May Fill the Gap Left by the Correspondent Banking Sector

The Chairman of the International Committee on Payments and Market Infrastructure (CPMI) has expressed his concern for the number of correspondent banking arrangements that are in sharp decline around the world, with active relationships having decreased by 20% in the last decade.


G7 Attempts to Reconcile US & EU Tax Arrangements for Global Standard

Finance ministers of the G7 have voted to support the OECD's proposed new rules for taxing transnational corporations and international companies using revisions of current profit allocation and partnership regulations, as well as new global minimum tax regulations.


WEF: See the Worlds Most Competitive Economies in 2018-2019

Last month, the valued non-profit organisation, the World Economic Forum (WEF) released its Global Competitiveness Report for 2018, ranking Hong Kong as the 7th most competitive economy globally, with the Asian hub losing its position of 6th place in 2017 out of 140 other countries worldwide.


International consternation as Trump administration pulls out of Paris climate deal

In a statement, German Chancellor Angela Merkel and Italy's Prime Minister Paolo Gentiloni warned the President that the Paris Agreement could not be renegotiated. They said they remained committed to the irreversible accord and saw it as "a cornerstone in the co-operation between our countries, for…


5 New jurisdictions join the global tax transparency reporting agreement

As part of continuing efforts to boost tax transparency by international corporations; the following 5 countries have signed the MCAA (Multilateral Competent Authority Agreement) for the automatic exchange of Country-by-Country reports:


SMEs require funding to improve the global trade finance deficit says WTO

Growing issues in the international trade & finance sector is confounding global development & growth, as start-ups and small companies are being refused funding in the early stages of their incorporation which is crucial to their contribution to the global economy.


OECD launches survey on tax certainty for all European businesses

The OECD was given a commendation from Finance Ministers & G20 Leaders to continue work on solutions to support increased certainty in the tax system in order to promote balanced growth, and increase trade and global growth.


Obama gives advice on G20 Summit conclusion

The G20 summit recently held in China has exemplified the importance for international tax cooperation to attain ‘an internationally fair and modern global tax system’, after President Obama warned of the risks if various countries ‘race to the bottom’ in tax policies.