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. Barbados has been removed from the European Union's list of non-cooperative jurisdictions and Dominica has been added.
  2. The Government of Jersey has issued draft Regulations that set out how former Prior Year Basis taxpayers may pay their 2019 tax bills.
  3. The Government of the British Virgin Islands has reiterated its commitment to working toward establishing a publicly accessible register on the beneficial ownership of companies.
  4. The Isle of Man has launched a consultation on legislative changes to ensure the territory remains fully compliant with international standards on recording details of the beneficial owners of legal entities.
  5. The Bermuda Monetary Authority has recently released a discussion paper on its plans to broaden its mandate by developing a conduct of business regime for the financial services sectors it regulates.
  6. The British Virgin Islands Financial Services Commission has announced that it will launch its new FinTech Regulatory "Sandbox" on August 31.
  7. The Government of the Cayman Islands has ruled out the introduction of direct taxes or new indirect taxes in response to the COVID-19 pandemic.
  8. Bermuda's financial services regulator, the Bermuda Monetary Authority, has set out plans to change its enforcement processes.
  9. Hong Kong's Inland Revenue Department has updated its guidance on Advance Pricing Agreements to reflect tax legislative changes in recent years and the territory's response to the OECD's base erosion and profit shifting Action Plan.
  10. p>The European Commission has announced plans for a new Directive on Administrative Cooperation, on the exchange of information on online platforms' sales, and a new Communication on Tax Good Governance.