Tax & Regulation
North America | 6 Mar 17
Canada vows to curb tax dodgers amid KPMG offshore scandal
Canadian prime minister Justin Trudeau has vowed to do a “better job” tackling tax evasion and tax avoidance following a high-profile exposé into how wealthy individuals used an Isle of Man-linked offshore scheme to avoid paying C$130m (£79m, $97m, €91m) in taxes.
Tax & Regulation | 6 Mar 17
HMRC reveals 80% rise in annual allowance breaches
The number of people breaching the annual allowance has jumped by almost 80% for the 2014/15 tax year, data from HM Revenue & Customs (HMRC) has shown.
HK regulator brings in fee disclosure for fund managers
Hong Kong’s Securities and Futures Commission now requires fund managers to disclose the ongoing charges figure (OCF) on their funds’ key facts statements (KFS), according to a circular from the regulator.
South Africa delays financial regulator overhaul
Changes that would have seen South Africa’s Financial Services Board (FSB) rebranded, handed a new mandate, and the introduction of a ‘Twin Peaks’ regulatory system have been postponed.
MEPs threaten privacy rights with beneficial ownership vote
In a bid to crackdown on tax evasion, European citizens could have their private financial affairs exposed to the public after members of the European parliament (MEPs) voted to include trusts and allow EU citizens access to beneficial ownership registers.