News

Trump announces new restrictions on travel & trade with Cuba

Last week President Donald Trump announced his plans to reinforce stricter travel regulations on Americans travelling to Cuba and significantly reduce US business transactions with the island’s military; unravelling former President Obama’s momentous reconciliations with Havana.


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…


Trump's tax plan: is it really too good to be true?

During his campaign, President Donald Trump called for a simplified tax code and lower tax rates for businesses and families. The administration will provide further details this week about what that entails.


Singapore will continue work with remaining TPP partners to find a solution

A Ministry of Trade and Industry spokesperson for Singapore has released a statement showing its commitment to continue working with other countries on the Trans-Pacific Partnership (TPP) in spite of the US’ recent talks of withdrawal.


Should Starbucks pay less tax than a sausage stand in Austria?

Austria’s Chancellor Christian Kern has been quoted saying in a Der Standard interview that US tech giant Starbucks officially pays less tax to Austrian authorities than a local sausage stand.


US criticises EU's strict treatment of American companies in Europe

The US Treasury has criticised the European Commission's (EC) policy of penalising American multinational companies for avoiding tax via state aid deals with individual EU member states.


US Treasury lobby’s Congress to introduce beneficial ownership legislation

The US Treasury is petitioning for federal legislation in America to force companies & legal entities to release all details regarding beneficial ownership information upon each respective incorporation, in order for it to be filed with the IRS (Internal Revenue Service) in the US.


US Treasury implements further legislation to combat anti-money laundering

After months of speculation, the US Treasury has announced the new procedure for Customer Due Diligence (CDD), which will impose new obligations on financial institutions in America to identify the Beneficial Ownership of all corporate clients, and directly pass these details on to the Department of Justice.


FATCA prosecution implicate first criminal liability case of it's kind

This month marks the first time the US Justice Department has brought criminal charges against an individual for violating tax reporting requirements as established under FATCA (the Foreign Account Tax Compliance Act).