Offshore News Offshore News

Global tax news, continuously updated through the day.
  1. The UK Government is inviting input on the tax challenges associated with the rise of the sharing economy.
  2. 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.
  3. 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.
  4. On November 17, 2020, Guernsey's Revenue Service released updated guidance on Mutual Agreement Procedure dispute resolution.
  5. The United Arab Emirates has released a new law that would allow businesses to use movable property to secure bank and commercial loans.
  6. On July 13, 2020, the US Internal Revenue Service (IRS) issued a progress report on the last two years' work of the J5 group of five advanced countries, who are working collaboratively to tackle cross-border tax fraud.
  7. Hong Kong's 2020 Budget includes plans for a one-off reduction of profits tax, salaries tax, and tax under personal assessment.
  8. On February 19, 2020, the United States Internal Revenue Service announced that the leaders of the Joint Chiefs of Global Tax Enforcement recently gathered in Sydney, Australia, to review their work and to set priorities for the years ahead.
  9. The Irish Revenue has updated its guidance on Irish exit tax legislation to reflect changes introduced by Finance Act 2019.
  10. Caribbean territory Aruba has released instructions on the completion of transfer pricing documentation and released model templates for completion.