South Africa Legislates For Budget Tax Changes
The South African Revenue Services and the National Treasury on July 19 released for public comment draft legislation that would give effect to the tax proposals announced in the February Budget.
Australia Improves Financial Services Tax Regime
The Australian Government has moved to clarify the tax treatment of foreign investors, following concerns over the practical operation of the Investment Manager Regime and the new tax system for managed investment trusts.
Jersey Proposes Infrastructure Levy
Jersey is consulting on the introduction of a land development charge, to be called the Jersey Infrastructure Levy.
ADGM Establishes REIT Regime
Abu Dhabi Global Market, the low-tax international financial center, has introduced a private real estate investment trusts regime.
Jersey Research Highlights China HNW Succession Issues
Jersey's financial services promotion agency, Jersey Finance, has published new research on the key challenges facing wealth management practitioners working with China's wealthiest individuals.
NZ Foreign Trust Numbers Expected To Fall
Fewer than 70 out of 11,645 New Zealand foreign trusts have reregistered following the introduction of tougher disclosure and eligibility requirements, with only three weeks left to go before the final deadline.
Abu Dhabi Tax-Free Zone To Launch Foundations
Abu Dhabi Global Market, the low-tax international financial center, is seeking feedback on its proposal to allow the formation of "foundations," a trust-like entity widely used in civil law jurisdictions.
IoM Consults On Funds Sector Rules
The Isle of Man Financial Services Authority, which supervises the island's financial services sector, is seeking feedback on draft guidance dealing with the governance of collective investment schemes.
Dubai Tax-Free Zone Seeing New Business From India
The Dubai International Financial Centre, the leading financial hub in the United Arab Emirates, has become an increasingly popular destination for Indian banks, financial institutions, and fund managers, the zone has said.
Guernsey Issues Warning On 'Sark Company Registry'
The Guernsey Financial Services Commission has issued a warning concerning an entity named "Sark Company Registry," while investigations are ongoing.
Abu Dhabi Free Zone Hopes To Attract Venture Capital Firms
Abu Dhabi Global Market, the low-tax international financial center, has unveiled a regulatory framework for managers of venture capital funds.
Australian Budget Targets Housing, Tax Compliance
Australian Treasurer Scott Morrison's 2017 Budget focused on measures to cool the housing market and crack down on tax avoidance.
Australia Delays Action On Stapled Structures
The Australian Government has decided to extend a review into the taxation of stapled structures. It will not tackle the issue at the upcoming Budget.
BVI Financial Firms Need To Develop New Niches
BVI Finance, the financial services industry promotional agency, has said the industry must actively adapt to target new opportunities and promote new offerings internationally.
ADGM Revises Pooled Fund Capital Req's
Abu Dhabi Global Market, the low-tax international financial center, has revised the capital requirements applicable to managers of collective investment funds, with effect from April 10, 2017.