Lowtax Network: Latest Tax News Headlines

Lowtax Network: Latest Tax News Headlines

1,500 pages of detailed, factual information covering the tax and legal regimes in 35 offshore and 15 onshore countries.
  1. Bermuda has been granted Reciprocal Jurisdiction status effective January 1, 2020, and has had its status as a Qualified Jurisdiction extended by the National Association of Insurance Commissioners (NAIC), after a five-year evaluation.
  2. The EU has removed Belize from its list of non-cooperative tax jurisdictions and Macedonia from its "grey list."
  3. Representatives from Jersey are holding week-long meetings in Asia to promote the island as a well-regulated offshore international financial center.
  4. Mauritius has recently ratified the base erosion and profit shifting (BEPS) multilateral instrument, agreeing to make changes to its tax treaty network to prevent abuse.
  5. The Government of the Cayman Islands has announced plans to introduce a public register of beneficial ownership.
  6. The Jersey Government is consulting on the implementation of mandatory disclosure rules for Common Reporting Standard Avoidance Arrangements and Opaque Offshore Structures.
  7. The Global Financial Centres Index was released on September 19, 2019, charting the top onshore and offshore financial centers worldwide, and for the first time the most innovative financial technology hubs.
  8. The Mauritius Revenue Agency has highlighted its ongoing efforts to tackle tax evasion and improve tax administrative processes.
  9. Guernsey is proposing to adopt limited liability companies (LLC), in a move intended to enhance the island's competitive position in the United States.
  10. Hong Kong's Inland Revenue Department has created a webpage to explain the requirements for master and local file reporting under the country-by-country reporting regime.