Tax & Regulation
Tax & Regulation | 28 Apr 17
Pension trustees banned over £16m Fiji tree plantation scam
The Pensions Regulator (TPR) in the UK has banned the trustees of a scheme that lost more than £15m ($19.3m, €17.7m) of member’s money after investing in overseas ventures that “bore the hallmarks of a scam”, including leases on a plantation in Fiji.
SA unveils new wealth tax to address ‘rampant inequality’
A committee set up to review South Africa’s tax system has revealed plans to introduce a new wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.
IoM taxpayers to pay up for collapsed Eco Resources Fund
Isle of Man taxpayers will have to foot the bill for another collapsed fund, the Eco Resources Fund, which was set up by the troubled Premier Group in 2012.
Tax & Regulation | 27 Apr 17
Uncertainty reigns as non-dom changes dropped at ‘11th hour’
UK taxpayers will now face a period of uncertainty after new non-domicile rules and inheritance tax changes to UK residential properties were dropped from the Finance Bill at the last minute, according to industry experts.
UAE to push ahead with major life industry overhaul
The main regulator of life companies in the UAE has confirmed it will go ahead with a ban on indemnity commissions, limits to fees and charges on industry products and tighter rules on financial advisers.