Latin America
Latin America | 5 Dec 17
Tax pariah Panama introduces fresh anti-avoidance measures
The controversial central American jurisdiction is poised to toughen its tax fraud penalties, a year and a half after it came under worldwide scrutiny for the Panama Papers leak.
Six jailed for 45 years for eco investment scam
Six members of a crime group have been jailed for a total of 45 years for devising a fake eco-investment scheme as a tax break for wealthy investors, often using the law firm at the heart of the Panama Papers.
Trust acquisition adds Asia presence to $95bn offshore specialist
Bermuda-based Bank of N.T. Butterfield & Son will establish an Asia presence following its acquisition of Deutsche Bank’s Global Trust Solutions (GTS) business.
Guernsey waives promoter licences for over 100 territories
Investment promoters from a host of countries and territories will no longer have to obtain a licence from the Guernsey Financial Services Commission (GFSC) if their main place of business is in one of more than 100 jurisdictions.
Generali signs $172m agreement to sell Panama business
Generali has entered into an agreement to sell its business in Panama, the latest in a series of exits from Latin American markets for the Italian insurer.