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Guernsey To Delay Tax Reform Debate To Explore Corporate Tax Options
Jason Gorringe, Tax-News.com, London__29 April, 2022
The Guernsey Government on April 26, 2022, announced that a parliamentary debate on tax reform, scheduled for July, will now be delayed until the end of the year, to allow time for consideration of corporate tax options. Earlier, Guernsey's Policy and Resources Committee proposed that the territory could implement a goods and services tax to buoy the territory's finances. Read Full Story

Cyprus Receives EU Approval For Angel Investor Tax Breaks
Jason Gorringe, Tax-News.com, London__16 February, 2022
The European Commission has approved a Cypriot scheme involving the grant of tax breaks to private investors – both natural persons and corporate investors – who invest into early-stage, innovative SMEs. Read Full Story

Switzerland Publishes Review Of 2021 Tax Progress
__20 January, 2022
As part of its commitment to fighting cross-border tax evasion and profit shifting, Switzerland sent information on over 3m financial accounts in 2021, according to a new review of the Swiss financial center by the State Secretariat for International Financial Matters. Read Full Story

OECD Tax Plans To Have Relatively Small Impact On Bermuda: Fitch
Jason Gorringe, Tax-News.com, London__01 November, 2021
Bermuda's appeal as a domicile for (re)insurance will be dulled by the OECD's latest international tax plans. However, the impact is likely to be less than the territory experienced after the US tax reform of 2017, says credit ratings agency Fitch Ratings. Read Full Story

Hong Kong To Amend Tax Rules For Foreign-Source Passive Income
Jason Gorringe, Tax-News.com, London__01 November, 2021
The Hong Kong Government has issued a statement committing to amend its tax law with regards the tax exemption for foreign source passive income from 2023, to ensure the territory does not end up placed on the EU's tax blacklist of non-cooperative territories. Read Full Story

Cayman Seeks Input On Major Tax Transparency Changes
Jason Gorringe, Tax-News.com, London__15 September, 2021
The Cayman Ministry of Financial Services has launched a consultation on the changes needed to enable public access to beneficial ownership information. Read Full Story

Countries Discuss Post-Pandemic Tax Agenda At UN Council Meeting
Ulrika Lomas, Tax-News.com, Brussels__12 May, 2021
Experts speaking at the UN's Economic and Social Council's annual Special Meeting on International Cooperation in Tax Matters concluded that the international community must do more to tackle tax base erosion and profit shifting and offshore tax evasion. Read Full Story

Bermuda To Launch Codes Of Conduct For Banks, Insurers
Jason Gorringe, Tax-News.com, London__26 April, 2021
The Bermuda Monetary Authority has released a responses document on the development of a conduct of business regulatory regime in the territory. Read Full Story

Australia To Shutter 'Harmful' Offshore Banking Unit Regime
Mary Swire, Tax-News.com, Hong Kong__19 March, 2021
The Australian Government has confirmed that it will amend its offshore banking unit regime after it was designated a harmful tax regime by the OECD and the European Union. Read Full Story

Taiwan Warns E-Services Providers To Register For VAT
Mary Swire, Tax-News.com, Hong Kong__03 March, 2021
Taiwan's federal tax agency has highlighted that those providing electronic services to Taiwanese consumers must register to charge tax if their annual turnover from such supplies exceeds TWD480,000 (USD17,250). Read Full Story

 

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