Financial Centre News

Bermuda Consults Industry On New Conduct Of Business Regime
by Jason Gorringe, Tax-News.com, London
Wednesday, January 13, 2021
The Bermuda Monetary Authority on December 15, 2020, released a new consultation paper on its proposal for a conduct of business regulatory regime to better protect retail investors. Read Full Story

Guernsey Updates MAP Guidance
by Jason Gorringe, Tax-News.com, London
Wednesday, January 13, 2021
On November 17, 2020, Guernsey's Revenue Service released updated guidance on Mutual Agreement Procedure dispute resolution. Read Full Story

UAE To Allow Loans Secured By Movable Property
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, September 22, 2020
The United Arab Emirates has released a new law that would allow businesses to use movable property to secure bank and commercial loans. Read Full Story

Hong Kong Announces Tax Credit Handout In 2020 Budget
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, March 3, 2020
Hong Kong's 2020 Budget includes plans for a one-off reduction of profits tax, salaries tax, and tax under personal assessment. Read Full Story

EU Takes Action Against Spain Over Rules On Reporting Of Assets
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, June 13, 2019
The European Commission is taking Spain to the Court of Justice over the imposition of "disproportionate" sanctions for failure to report assets held abroad. Read Full Story

Barbados Rejects UK Push For Public Beneficial Ownership Register
by Mike Godfrey, Tax-News.com, Washington
Friday, May 11, 2018
Barbados's Minister of Industry, International Business, Commerce, and Small Business Development, Donville Inniss, has told a Society of Trust and Estate Practitioners (STEP) conference there is no support on the island for a public register of beneficial ownership. Read Full Story

Hong Kong To Ensure ITVF Tax Break For Offshore Investors
by Mary Swire, Tax-News.com, Hong Kong
Friday, April 27, 2018
Hong Kong's Government has published a draft law preserving the profits tax exemption for offshore venture capital funds who participate in the island's new Innovation and Technology Venture Fund. Read Full Story

Hong Kong Tables Bill For Research And Development Tax Breaks
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, April 24, 2018
The Hong Kong Government has released a draft bill containing its 2017 proposal to provide an enhanced tax deduction for research and development expenditure. Read Full Story

Guernsey Regulator Releases Stock Market Integrity Code
by Jason Gorringe, Tax-News.com, London
Thursday, April 19, 2018
Guernsey's financial services regulator, the Guernsey Financial Services Commission, has released a draft code on market conduct standards focusing on behavior it considers amounts to market abuse. Read Full Story

Bermuda To Regulate Initial Coin Offerings
by Mike Godfrey, Tax-News.com, Washington
Friday, March 23, 2018
Bermuda's Premier and Minister of Finance, David Burt, told the island's parliament last week that his government will shortly release a draft Bill to regulate initial coin offerings in Bermuda. Read Full Story
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