- New EU money laundering directive will not force public naming of trust beneficiaries
- Savile trustees fail to overturn personal injury settlement plan
- Colombian Chamber of Representatives approves draft tax reform law
New EU money laundering directive will not force public naming of trust beneficiaries
Trust beneficiaries have been granted a measure of confidentiality in an agreement just reached between EU national governments and the European parliament on the Fourth Money Laundering Directive.Read more
According to reports the agreed text requires member states to create central registers of beneficial owners of trusts...
Savile trustees fail to overturn personal injury settlement plan
The trustees of the Jimmy Savile Charitable Trust have failed to overturn a High Court ruling under which most or all of the deceased TV celebrity's GBP4 million estate will be paid to people who claim he assaulted them.Read more
Savile died in October 2011 aged 84. A year later, a TV programme was broadcast suggesting that he had committed sexual assaults against numerous people.
Colombian Chamber of Representatives approves draft tax reform law
On December 15, the Chamber of Representatives approved a draft tax reform law.Read more
The draft law provides for, among others, a wealth tax for taxpayers with net assets above COP1 billion (USD416,500) at 1.15 percent in 2015, 1 percent in 2016, 0.4 percent in 2017 and which disappears in 2018; and a surcharge to the income tax for equity (CREE) which taxes profits above COP800 million (USD329,373) at 5 percent in 2015, 6 percent in 2016, 8 percent in 2017 and 9 percent in 2018.
Russia enacts tax legislation on CFCs
Olga Boltenko and Ayshat Gaydarova discuss Russia’s new CFC tax regime and highlight the implications for clientsRead more >
That’s a wrap
David Denton explains the benefits for British expatriates and resident non-domiciles of wrapping up assets in offshore bonds.Read more >
A point of interest
Amanda Edwards discusses interest on pecuniary legacies.Read more >