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Hong Kong's Financial Services Development Council has issued a paper setting out key recommendations for the Government to consider in the area of international tax law. Read Full Story
New research shows that financial institutions are generally confident about meeting existing and incoming automatic exchange of information obligations. However, the study also found that a significant proportion of the industry is facing higher costs and risking fines by being under-prepared for new compliance requirements. Read Full Story
The Irish Finance Department has launched a consultation on how the Financial Institutions Levy is calculated and collected. Read Full Story
In reply to a Legislative Council question, Hong Kong's Secretary for Financial Services and the Treasury, K C Chan, confirmed that the Inland Revenue Department will always "take necessary actions against tax evasion and avoidance by taxpayers, based on information possessed by the Department or received from other sources." Read Full Story
Singapore's 2016 Budget, released on March 24, includes measures to support businesses to expand and enhances finance sector, treasury management, and international trade tax incentives. Read Full Story
Caribbean territory Grenada has announced that no new taxes will be introduced in the 2016 Budget but the jurisdiction is planning numerous tax administrative changes. Read Full Story
The National Bank of Kazakhstan is set to collaborate with the Dubai International Financial Centre to explore mutually beneficial investment initiatives as part of a memorandum of understanding signed between the two parties. Read Full Story
The British Virgin Islands has published revised guidance notes on the international tax compliance requirements under its intergovernmental agreements with the United States and the United Kingdom. Read Full Story
The Accounting and Auditing Organisation for Islamic Financial Institutions has indicated that it is now prepared to collaborate with the International Accounting Standards Board on the possible convergence of their corporate and financial accounting standards. Read Full Story
The International Monetary and Financial Committee of the International Monetary Fund was on October 11, 2014, updated on progress towards tax-related reform in San Marino, including the introduction of a value-added tax. Read Full Story
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