Guernsey wants off tax haven blacklists
Guernsey’s lack of inclusion on the EU’s tax haven blacklist has prompted the island to call for Portugal and Lithuania to follow suit and remove it from their respective lists.
New Earth owner has licence revoked
Isle of Man-based Premier Group (PGIOM), the company behind the ill-fated £300m New Earth Group of funds, has had its financial services operating licence revoked by the island’s regulator.
South Africa to reinstate tax courts
With a growing number of South Africans not submitting tax returns, the nation’s revenue service is looking at bringing back tax courts in a bid to step up its enforcement efforts.
Convoy raids put Hong Kong firms on notice
Hong Kong’s financial services firms can expect greater regulatory scrutiny as an unprecedented joint probe by the Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) paves the way for future investigations.
Best Practice | 12 Dec 17
US tax evaders face 10-fold penalty hike
Offshore tax evaders face penalties up to 10 times the current sentencing guidelines after the US Department of Justice (DOJ) announced a major policy shift.