Statements from the OECD have underlined Guernsey’s claim to be a cooperative tax jurisdiction, as defined by treaties on information exchange. Monica Bhatia, head of the Secretariat of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes said: “I am very surprised that Guernsey has been included in a list of […]
Latvia has joined Poland in removing Bermuda from its list of tax jurisdictions that are ‘blacklisted’ for being uncooperative. A statement from the government of Bermuda noted that the jurisdiction was placed on the EU’s broader list of blacklisted tax jurisdictions on the basis of work by the European Commission, which aggregated blacklists from each […]
The British Virgin Islands has said that it is “disappointed” with the decision of the European Commission to include the jurisdiction on its latest list of places deemed non-cooperative on tax matters. The government of BVI said in a statement that the jurisdiction has “a long long track record of meeting the highest international standards […]
‘Italy for 30 years under the Borgias had warfare, terror, murder, and bloodshed – but they produced Michelangelo, Leonardo da Vinci and the Renaissance. In Switzerland they had brotherly love and 500 years of democracy and peace, and what did that produce? The cuckoo clock.’ – Orson Welles
UK tax authorities have increased the pressure on UK resident holders of undisclosed Swiss bank accounts, by amending the UK/Swiss tax agreement to require banks to freeze 40% of assets in cases where they learn the account holder has died, then potentially transfer those funds to authorities as an inheritance tax charge.
Sweden’s Ministry of Finance has passed on an agreement on exchanging tax information with Switzerland for approval by Sweden’s Parliament.
European offshore clients are giving Julius Baer Group no new business as they wait to see what happens with Switzerland’s tax agreements with Germany and the UK, the Zurich-headquartered banking group said today.
Lawyers are counselling Western world taxpayers with income undeclared in Switzerland but taxable at home, to reveal their accounts as governments increase efforts to unearth identities and force sheltered money onshore.
Guernsey has signed a Tax Information Exchange Agreement (TIEA) with the Republic of Slovenia, the third TIEA signed by the island in under a month.
Guernsey has signed Tax Information Exchange Agreements (TIEAs) with the Czech Republic and the Bahamas.
Guernsey companies have been given approval to list on the Hong Kong Stock Exchange (HKEx), following an agreement reached by the exchange’s committee.