offshore News

Guernsey To Delay Tax Reform Debate To Explore Corporate Tax Options

by Jason Gorringe, Tax-News.com, London

Friday, April 29, 2022

The Guernsey Government on April 26, 2022, announced that a parliamentary debate on tax reform, scheduled for July, will now be delayed until the end of the year, to allow time for consideration of corporate tax options. Earlier, Guernsey's Policy and Resources Committee proposed that the territory could implement a goods and services tax to buoy the territory's finances. Read Full Story

Cyprus Receives EU Approval For Angel Investor Tax Breaks

by Jason Gorringe, Tax-News.com, London

Wednesday, February 16, 2022

The European Commission has approved a Cypriot scheme involving the grant of tax breaks to private investors – both natural persons and corporate investors – who invest into early-stage, innovative SMEs. Read Full Story

Switzerland Publishes Review Of 2021 Tax Progress

Thursday, January 20, 2022

As part of its commitment to fighting cross-border tax evasion and profit shifting, Switzerland sent information on over 3m financial accounts in 2021, according to a new review of the Swiss financial center by the State Secretariat for International Financial Matters. Read Full Story

Hong Kong To Amend Tax Rules For Foreign-Source Passive Income

by Jason Gorringe, Tax-News.com, London

Monday, November 1, 2021

The Hong Kong Government has issued a statement committing to amend its tax law with regards the tax exemption for foreign source passive income from 2023, to ensure the territory does not end up placed on the EU's tax blacklist of non-cooperative territories. Read Full Story

Countries Discuss Post-Pandemic Tax Agenda At UN Council Meeting

by Ulrika Lomas, Tax-News.com, Brussels

Wednesday, May 12, 2021

Experts speaking at the UN's Economic and Social Council's annual Special Meeting on International Cooperation in Tax Matters concluded that the international community must do more to tackle tax base erosion and profit shifting and offshore tax evasion. Read Full Story

Australia To Shutter 'Harmful' Offshore Banking Unit Regime

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

Friday, March 19, 2021

The Australian Government has confirmed that it will amend its offshore banking unit regime after it was designated a harmful tax regime by the OECD and the European Union. Read Full Story

Taiwan Warns E-Services Providers To Register For VAT

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

Wednesday, March 3, 2021

Taiwan's federal tax agency has highlighted that those providing electronic services to Taiwanese consumers must register to charge tax if their annual turnover from such supplies exceeds TWD480,000 (USD17,250). Read Full Story

UK Eyeing VAT Rule Changes For Sharing Economy

by Jason Gorringe, Tax-News.com, London

Tuesday, December 22, 2020

The UK Government is inviting input on the tax challenges associated with the rise of the sharing economy. Read Full Story

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

Digital VAT Regimes Vital To Buoy Countries' Tax Takes: Report

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, December 10, 2020

The OECD has released its annual Consumption Tax Trends report, which highlights that with VAT rates at an all-time high, governments should ensure they have effective VAT frameworks in place to tax e-commerce. Read Full Story

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