Industry
Tax & Regulation | 9 May 16
More than $12trn from emerging markets in offshore accounts
More than $12trn (£8trn, 10.5trn) has been taken out of emerging economies such as China and Russia and stashed in offshore accounts, new data from advocacy group the Tax Justice Network (TJN) has revealed.
Tax & Regulation | 9 May 16
Top economists question future of offshore financial centres
The future of offshore financial territories has been called into question by a group of over 300 senior economists, who have written to world leaders claiming they have “no economic justification”.
Tax & Regulation | 9 May 16
HMRC client criminal activity checks a burden for businesses
HM Revenue & Customs issued 1,468 production orders last year demanding that UK businesses provide information and documents relating to current or former clients suspected of criminal activity, according to city law firm RPC.
The future of 5% bond withdrawals
New HM Revenue & Customs proposals being consulted on by the industry could fundamentally alter the way UK and offshore bonds work, says Rachael Griffin, financial planning expert at Old Mutual Wealth.
Insurance body slams ‘poorly designed’ EU pension product
Insurance Europe, the trade body that represents the European insurance and reinsurance industry, has slammed plans for an EU-wide single pension product as “poorly designed”.