Canadian Budget Focuses On 'Tax Fairness'
The tax measures contained Canadian Finance Minister Bill Morneau's second Budget are focused on closing loopholes, cracking down on tax evasion, and improving tax reliefs for the "middle class."
Jersey Regulator Issues AML/CTF Funds Guidance
Jersey's financial services regulator, the Jersey Financial Services Commission, has issued new anti-money laundering and countering the financing of terrorism guidance for Funds and Fund Operators.
More Tax Hikes For UK Taxpayers In 2017 Budget
The UK Budget, released on March 9, 2017, featured tax measures to, among other things, hike taxes on self-employed workers, further close avenues for legal avoidance, and defer mandatory digital tax reporting until April 2019.
ACOSS Submits Recommendations For Australian Budget
The Australian Council of Social Services has urged that the Government abolish ineffective tax concessions, introduce a sugary drinks tax, and scrap its company tax proposals.
MEPs Call For Wider Access To Beneficial Ownership Data
EU citizens would be able to view information in registers of beneficial ownership without having to demonstrate a "legitimate interest," under proposed amendments the Anti-Money Laundering Directive.
New Zealand Tax Changes Enter Into Force
A Bill including provisions to simplify New Zealand's tax processes, reduce compliance costs for smaller businesses, and tighten foreign trust disclosure rules received Royal Assent on February 21.
Guernsey Introduces Client Asset Handling Rules
Guernsey's financial services regulator, the Guernsey Financial Services Commission, said it intends to introduce rules governing the holding and administration of client assets in 2017.
Australian Accountants Urge Tax Burden Shift
Australia desperately needs large scale tax reform and should aim to rebalance its tax mix, the Institute of Public Accountants has argued.
IRS Issues Final Regulations On REIT Spin-Offs
On January 18, the US Internal Revenue Service issued its final regulations
regarding the measures included in the Protecting Americans from Tax Hikes Act to restrict the tax-free spin-offs involving publicly traded real estate investment
Bermuda, EU To Collaborate On Insurance, Pensions Oversight
The European Insurance and Occupational Pensions
Authority and the Bermuda Monetary Authority have newly signed a memorandum
Hong Kong Consults On Beneficial Ownership Plans
Hong Kong's Financial Services and the Treasury Bureau has launched public
consultations on legislative proposals to increase the transparency of corporate
beneficial ownership in the city, and to enhance its regulatory regime for combating
money laundering and terrorist financing.
Hong Kong Reports On Incorporations In 2016
There was an increase in local company incorporations in Hong Kong in 2016, although incorporations by foreign companies experienced a dip, according to the territory's Companies Registry.
Guernsey Regulator Outlines 2017 Funds Strategy
Guernsey's financial services regulator, the Guernsey Financial Services Commission, has outlined its funds sector strategy for 2017.
Canada Waives Income, Activities Reporting For Labor Org's
Canada's Revenue Minister has announced that certain reporting requirements on labor organizations and labor trusts will be waived.
South African Tax Bills Approved By Parliament
South Africa's Ministry of Finance has published the 2016 Taxation Laws Amendment
Bill, which has received parliamentary approval and gives effect to the
tax changes announced in the Budget in February this year, together with legislation
confirming the final details of. the Special Voluntary Disclosure Program.