The OVDP was initiated in 2009 and was designed to bring taxpayers with undisclosed foreign income, accounts and assets into US tax compliance.
The company subsequently ran afoul of Gibraltar financial authorities and has now settled.
At the Malta Individual Investor Programme Agency, we believe success stems from a combination of proactiveness, timeliness and determination.
Benchimol assumed the CEO role in May 2012 and has served as a director since January 2012.
Companies that are in scope will have to demonstrate for substance purposes that, in relation to ‘relevant activities’, they are directed and managed in Guernsey
Its contents were first presented at a symposium organised by the journal to discuss the future of discovery in the United States.
As a legal specialist with over 25 years’ experience in cross-border regulation, one of the key things that struck me about the regulation was how difficult it might be to apply it to cross-border investments.
“There are a lot of agencies and different areas that have to be put in place,” he added.
Israel’s accession to the 38-member international anti-money laundering body marks a notable turnaround from 2002, when it was still on the FATF’s blacklist of tax havens.
Last year’s update was our most comprehensive yet and the response was excellent, with our highest-ever attendance by some distance.
Legislation means the channel island avoids inclusion in the EU blacklist for tax havens
Afif said that the companies responsible for the registration of the offshore companies had already sounded the alarm by explaining the losses it could have for Seychelles, an archipelago in the western Indian Ocean.
The UK is the largest financial services provider in the world.
It also ensures that those substance requirements can be monitored and enforced.
Cayman Finance submission to the UK Parliament’s Foreign Affairs Committee ‘Future of the UK Overseas Territories Inquiry’
Financial institution discusses trends related to monetary and climate resilient infrastructure.
The new legislation comes in response to the threat of a blacklisting by the European Union as part of the EU’s process of assessing whether countries are deemed cooperative or uncooperative in tax matters.
The amendments to Barbados’ preferential tax regimes are part of the government’s continued response to action 5 of the OECD BEPS project.
It is important that the operators of Cayman Island investment entities consider these new requirements and whether or not they are subject to these new requirements.
Passage brings The Bahamas in full compliance with EU tax standards