Tax & Regulation
South Africa considering tax changes to offshore pension funds
South African tax authorities may clamp down on the way overseas pension products are taxed, according to Martin Hall, director of Isle of Man-based Optimus.
Smaller firms likely to bear the brunt of HK fee disclosure
Hong Kong’s enhanced fee disclosure proposals should not have a big impact on banks and fund houses, but may impact smaller intermediaries, according to industry players.
Singapore’s 55% commission cap ‘good news’ for some advisers
The impact of Singapore’s 55% cap on commission payments may not be as severe or restrictive as once thought, and may even see some advisers slightly better off, an industry source told International Adviser.
Ireland told a French-style wealth tax will raise just €22m
Ireland’s controversial plans to impose a wealth tax on its super-rich, similar to other European countries such as France and Spain, may yield just €22m (£18.6m, $23.2m), according to a study by the Economic and Social Research Institute (ESRI).
North America | 24 Nov 16
IRS targets virtual currency in tax avoidance probe
As part of its investigation into tax avoidance through the use of virtual currencies, the US Internal Revenue Service (IRS) has filed a petition with a California court requesting personal data from virtual currency exchange firm Coinbase.