Sewing Discusses Panama Papers Investigation and Catastrophe Risk

Sewing’s remarks followed the two-day raid as part of an investigation linked to the so-called Panama Papers leak of documents about offshore finance.

In addition, the global share of gross estimated potential loss assumed by Bermuda insurers on major catastrophe perils (combined) increased by about 2.0 percent.

Under the current regime, a notional interest is calculated on the capital made available to the Swiss permanent establishment that leads to a reduced taxable net profit of the Swiss finance branch in Switzerland.

The event was extremely well attended which is testament to Guernsey’s reputation in the London market and the calibre of speakers including Sir John Sawers, former head of the MI6 Intelligence Service, who delivered the keynote speech.

Any pre-existing dispensation for a trustee displaying their legal name on the register will automatically remain in place.

This change means that all regulated funds – those registered or licensed with the Cayman Islands Monetary Authority (CIMA) – as well as unregulated investment entities, such as private equity, venture capital and real estate funds, are caught

CAB “strongly encourages” Caribbean countries that have not yet done so to ensure that they are compliant with international automatic exchange of information/exchange of information on request (AEOI/EOIR) tax standards in order to avoid the n

Following this in-principle decision and the successful testing period, the Lendingblock platform is open for institutional onboarding in preparation for launch.

The legislative changes are part of Barbados’ commitment to ensure it is compliant with the Organisation for Economic Cooperation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) programme

The Bill will now return to the House of Lords for consideration of the amendments and Royal Assent may be received in November, meaning that new rate is likely to be in place by July 2019.

Payments by Barbados-registered IBCs to non-residents and to other IBCs currently benefit from a range of tax exemptions.

Spanish prime minister had demanded written assurance as price of support for withdrawal agreement

The bank moved its back-office operations, inclusive of account processing, reconciliations, customer support, and collection services to Port of Spain to cover customers in Trinidad and Tobago and 17 other countries in the Caribbean from that location.

The tests require companies that are in scope to demonstrate that they meet the economic substance tests, including that they are “directed and managed” in Guernsey

CIMA supervises and regulates banks incorporated and licensed in Cayman in accordance with the principles developed by the Basel Committee on Banking Supervision.

Anthony said there’s nothing that the CDB loves more than consultants, adding that every single project must have consultants.

She said that the opposition is maintaining its position that the Income Tax (Amendment) Bill, 2018 “lacks clarity, is ambiguous and flawed” and that she had received correspondence from Finance Minister Colm Imbert on the matter.

The country also allows dual citizenship and holders of its passport can also keep and the original passport of the country of the immigrant’s origin.

The ECB is to launch a dedicated network of watchdogs sharing information on the matter, its chief supervisor Daniele Nouy said yesterday.

It has become the narrative that refuses to go away for the largest professional services firms of the UK