OECD Release Landmark TP Guidance On Financial Transactions

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, February 20, 2020

The OECD has released a report providing transfer pricing guidance on financial transactions, as part of its follow-up work on tackling tax base erosion and profit shifting, under Actions 4, 8, 9, and 10 of the BEPS Action Plan. Read Full Story

IRS Offers Settlement Scheme To Micro-Captives

by Mike Godfrey, Tax-News.com Washington

Friday, September 20, 2019

On September 16, 2019, the United States Internal Revenue Service announced the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Read Full Story

Malaysia Explains New Cap On Interest Expense Deductions

by Mary Swire, Tax-News.com, Hong Kong

Tuesday, July 16, 2019

The Inland Revenue Board of Malaysia has released new guidance on restrictions to the deductibility of interest expenses. Read Full Story

FERMA Calls For Consistent BEPS Rules For Captives

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 29, 2017

The Federation of European Risk Management Associations has released detailed guidance, aimed at supporting countries to develop consistent and appropriate base erosion and profit shifting responses with respective to captive reinsurance arrangements. Read Full Story

IRS Warns On Micro-Captive Insurance Tax Shelters

by Scott Hamilton, Tax-News.com, Washington

Wednesday, February 15, 2017

For the third consecutive year, the US Internal Revenue Service has placed abusive micro-captive insurance tax shelters on its list of top tax scams to watch out for in the 2017 filing season. Read Full Story

IRS Scopes In On Micro-Captive Tax Evasion Risk

by Scott Hamilton, Tax-News.com, Washington

Thursday, November 3, 2016

In Notice 2016-66, the US Internal Revenue Service has warned that the use of so-called "micro-captive transactions" have "a potential for tax avoidance or evasion," as it believes they may be established more to avoid federal income tax rather than for their stated aim of providing additional insurance for clients. Read Full Story

Double-Digit Growth For Hong Kong's Insurers

by Mary Swire, LawAndTax-News.com, Hong Kong

Thursday, March 17, 2016

Hong Kong's Office of the Commissioner of Insurance has announced the territory's insurance sector grew in 2015, with total gross premiums up 10.9 percent year-on-year to HKD365.8bn (USD47.2bn). Read Full Story

IRS Warns On Use Of Tax Shelters

by Mike Godfrey, Tax-News.com, Washington

Wednesday, February 17, 2016

The US Internal Revenue Service has warned taxpayers that the use of "abusive tax shelters and structures to avoid paying taxes" continues to be a major problem during the current 2016 filing season. Read Full Story

Labuan IBFC Targets Indonesian Businesses

by Mary Swire, Tax-News.com, Hong Kong

Thursday, August 6, 2015

The Labuan International Business and Financial Centre is attempting to encourage more Indonesian companies to register in the jurisdiction to take advantage of its low-tax regime and trading and investment links with key economies in the Asia-Pacific region. Read Full Story

Bermuda Promotes Captive Insurance To Canadian Industry

by Mike Godfrey, Tax-News.com, Washington

Tuesday, April 28, 2015

Bermuda is to send a 15-strong delegation to Canada to host a roadshow touting the corporate benefits of setting up a captive insurance company in Bermuda. Read Full Story

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