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Abu Dhabi Global Market, the low-tax international financial center, is seeking feedback on its proposal to allow the formation of "foundations," a trust-like entity widely used in civil law jurisdictions. Read Full Story
Hong Kong's Inland Revenue Department has confirmed that business registration fees for business registration certificates will become payable again from April 1. Read Full Story
There was an increase in local company incorporations in Hong Kong in 2016, although incorporations by foreign companies experienced a dip, according to the territory's Companies Registry. Read Full Story
Tax experts are warning that UK government proposals to penalize "enablers" of tax avoidance schemes are too widely drawn and could result in some taxpayers and businesses being unable to get expert advice on complicated and often unclear areas. Read Full Story
The UK Government has launched a consultation on proposed new penalties for "enablers" of defeated tax avoidance schemes. Read Full Story
The US Treasury Department has announced a customer due diligence final rule, proposed beneficial ownership legislation, and proposed regulations related to foreign-owned, single-member limited liability companies, in an effort to target tax evasion, money laundering, and other illicit financial activities. Read Full Story
More than 20 jurisdictions have signed up to a pilot project to exchange data held on beneficial ownership registers and registers of trusts, according to UK Chancellor George Osborne. Read Full Story
The European Parliament Conference of Presidents has unanimously backed a proposal for the creation of an inquiry committee to investigate the so-called Panama Papers. Read Full Story
According to the statistics released by the Hong Kong Companies Registry, the total number of local companies registered under the Companies Ordinance at the end of 2015 was 1,288,666, up nearly 16,000 from last year. Read Full Story
HM Revenue and Customs has launched four consultations on the UK Government's proposed new approach to tackling offshore tax evasion. Read Full Story
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