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Bahrain, Lebanon, Nauru, Panama, and Vanuatu - five territories that were earlier criticized for not following tax transparency standards – have newly committed to sharing financial account information automatically with other countries. Read Full Story
Jersey has established an asset recovery task force to coordinate the island's efforts to identify and recover illicitly obtained assets linked to Arab spring jurisdictions. Read Full Story
The Guernsey Registry began accepting applications for the formation of foundations on January 9, 2012, following approval of the legislation by the UK Privy Council. Read Full Story
Nerine Group of Fiduciaries and law firm Mourant Ozannes have jointly hosted a seminar on the new Guernsey foundations law for a select group of leading private client lawyers and barristers in London. Read Full Story
France has amended article 209B of the tax code containing Controlled Foreign Company legislation. It extends the existing punitive tax treatment of companies operating in non-cooperative jurisdictions to companies operating in low-tax jurisdictions. Read Full Story
Guernsey trust advisors will be able to offer the foundation corporate form by the end of the year, the government has confirmed, announcing the launch of an event to examine opportunities the structure offers for the wealth management sector. Read Full Story
Jersey should be prepared to rethink its relationship with the United Kingdom as a Crown Dependency, in response to aggressive tax policy from the UK government which has increasingly targeted the Channel Islands and soured ties, Jersey's Assistant Chief Minister has said. Read Full Story
Despite a 15% decline in tax revenues in San Marino over the past two years, authorities have been able to maintain a comparatively low deficit. However, the most significant challenges relate to the stability of the nation's banking sector, which has suffered capital flight as tax transparency initiatives gain ground, a new International Monetary Fund report says. Read Full Story
The Jersey government has announced the launch of a new Jersey-based pension scheme, the Recognized Pension Scheme, which provides a structure compliant with UK law following changes to UK rules regarding Qualifying Recognised Overseas Pension Schemes. Read Full Story
Appleby, which claims to be the world's largest provider of offshore legal and fiduciary and administration services, has announced its decision to expand its global reach by establishing a new representative office in Shanghai, China. Read Full Story
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