Cayman Gears Up For Common Reporting Standard

It’s time for another round of international tax cooperation in the Cayman Islands, and now government leaders are turning their attention to what comes next, implementing the OECD’s Common Reporting Standard (CRS). The Cayman Islands Department for International Tax Compliance (DITC) has noticed local financial institutions of the next step and said the regulations to bring the CRS into force will be take place later this year.

More than 90 jurisdictions around the world have […]

By |July 15th, 2015|

UK: A Budget For Securing Revenues: The Wealthy And Business Owners To Feel The Pain

While recognising that the richest taxpayers pay an increasing percentage of UK tax revenue, the Chancellor in this Budget has made it clear that the Government aims to ensure that wealthy individuals will have to be far more transparent in their tax affairs and pay the tax that Parliament intends. The government has therefore announced substantial investment in anti-avoidance measures.
Initial comments from Tina Riches, national tax director at Smith & Williamson:
On buy to let […]

By |July 13th, 2015|

Automatic Exchange Of Information In Tax Matters: Mauritius Is One Of The First African Countries To Sign Up

On the chilly autumnal afternoon of the 29th October 2014, in Berlin, representatives from 51 jurisdictions got together to sign the symbolic multilateral competent authority agreement for the automatic exchange of information (the “CAA”).  This event was intended to be a “step change” in the way in which jurisdictions share tax information to combat tax evasion.

In a nutshell, the aim of the CAA is to create a framework for the systematic and periodic transmission […]

By |July 10th, 2015|