News

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.


New CRS trust legislation to help combat overseas tax evasion

The OECD (Organisation for Economic Cooperation and Development) have established that new rules apply concerning trusts in order to comply with the Common Reporting Standard’s regime of automatic information exchange of information between member jurisdictions.


Asian stock market figures incites fear for global economic growth in 2016

The Asian stock market showed an overwhelming drop across the board yesterday after a disappointing US employment report created fears regarding the fundamental power of the globes largest economy and worse than predicted trade figures from China.


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.


Top ten jurisdictions for financial secrecy revealed

In light of recent information disclosed in the Panama papers, the Central American nation is under more scrutiny about its tax transparency than ever before. International financial organisations warn that Panama is not even in the top 10 jurisdictions for aiding reporting secrecy.


Panama papers scandal show cracks in Iceland’s leadership

After millions of confidential client records from the Panama law firm Mossack Fonseca, were stolen and leaked to the national tax authorities, Mr Sigmundur David Gunnlaugsson, the Icelandic Prime Minister has stepped down over allegations he hid millions of dollars in a BVI company.