financial services News

UK Legislates To Close Insurance VAT Loophole

by Jason Gorringe, Tax-News.com, London

Friday, December 21, 2018

On December 11, 2018, the UK Government tabled The Value Added Tax (Input Tax) (Specified Supplies) (Amendment) Order 2018 before the House of Commons to close a VAT avoidance loophole that is exploited by some UK insurers. Read Full Story

HMRC's Large Business Tax Inquiries Now Taking Three Years

by Jason Gorringe, Tax-News.com, London

Friday, November 9, 2018

The average length of HMRC's tax inquiries into large businesses are now taking more than three years to settle, with each case taking around 39 months to resolve in 2017/18, up from 34 months in 2016/17, according to Pinsent Masons, the international law firm. Read Full Story

IoM Consults On Proposal To Distribute Dormant Bank Account Funds

by Amanda Banks, Tax-News.com, London

Thursday, September 13, 2018

The Isle of Man Government has launched a community consultation on the Dormant Assets Bill 2018, which proposes to distribute money held in dormant bank accounts to good causes. Read Full Story

Luxembourg Introduces New VAT Group Regime

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, August 9, 2018

Bill of law no. 7278, providing for the implementation of new value-added tax grouping rules in Luxembourg, entered into force on July 31, 2018. The bill was approved by parliament on July 26. Read Full Story

Mauritius Announces Company Tax Reforms In New Budget

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, June 21, 2018

Mauritius announced wide-ranging changes to its tax regime in its latest Budget, including for companies. Read Full Story

Netherlands To Champion EU VAT Law Change For Cost-Sharing Groups

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 14, 2018

The Dutch Ministry of Finance has reassured taxpayers that it seeking to resolve at EU level reform of the EU's value-added tax rules concerning cost-sharing groups, following the European Court of Justice's rulings in DNB Banka (Case C-326/15) and Aviva Towarzystwo (Case C 605/15). Read Full Story

EU Agrees New Money Laundering Rules

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, June 14, 2018

The EU is to apply new anti-money laundering rules aimed at disrupting and blocking access by criminals to financial resources. Read Full Story

Switzerland To Amend Anti-Money Laundering Law

by Ulrika Lomas, Tax-News.com, Brussels

Monday, June 4, 2018

The Swiss Government is consulting on proposed amendments to the Anti-Money Laundering Act. Read Full Story

Thailand Introduces Virtual Currency Trading Tax Rules

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

Tuesday, May 22, 2018

In a last-minute change ahead of the implementation of new tax rules for virtual currency trading, Thai lawmakers agreed that virtual currency trading on regulated exchanges should be exempt from value-added tax. 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

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