Canada
North America | 14 Apr 16
Canada investigates fund transfers to the Isle of Man
Canada’s Revenue Agency (CRA) has audited 3,000 electronic funds transfers to the Isle of Man, made by around 800 Canadian taxpayers totalling C$860m (£472.2m, $672.5m, €593.4m).
Alternatives | 16 Feb 16
AIFMD passport inclusion decision expected by June – CIMA
The Cayman Islands Monetary Authority (CIMA) said it is confident the European Securities and Markets Authority (ESMA) would complete its assessment of a second wave of nations for inclusion into the AIFMD passport system by June 30.
Sun Life revenue falls, confirms US wealth business closure
Net revenue was down by a quarter at Canada’s third largest insurer by assets, Sun Life Financial, during the fourth quarter and full year of 2015. The company also incurred a C$63m (£31.1m, $45.3m, €40.2m) restructuring cost related to the closure of its US wealth business.
North America | 20 Jan 16
Canada signs double tax agreement with Taiwan
A double taxation agreement (DTA) has been signed by Canada and Taiwan, limiting the withholding tax rate for dividends, interest, and royalties.
Sun Life closes part of wealth product range
Sun Life Financial International, part of Canada’s giant Sun Life Financial Inc, said it will no longer accept new applications for two of its key wealth products — Sun Secured Advantage Plus and Sun Investor.