Industry News
- UK presses for beneficial ownership registries
- Renewed controversy over corporate tax planning
- MOU relating to FATCA signed by US and Switzerland
- More Industry News
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UK presses for beneficial ownership registries
The heads of Britain's Crown Dependencies and Overseas Territories are to produce national action plans on beneficial ownership registries.
The leaders met UK Prime Minister David Cameron at Downing Street at the weekend, where he presented them with the demand ‒ softened by a promise that the UK and the G8 countries will do the same. The G8 countries are meeting this week, and are expected to produce an agreement on a new standard for company beneficial ownership registries. Whether trusts are to be included is not yet clear.
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Renewed controversy over corporate tax planning
The House of Commons Public Accounts Committee (PAC) has published a report criticising 'contrived' tax avoidance schemes used by the multinational firm Google.
Google has paid little UK corporation tax in recent years. It earned revenues of GBP11.4 billion in the UK during the five years 2006-2011, but paid only about GBP10 million in UK corporation taxes.
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MOU relating to FATCA signed by US and Switzerland
A Memorandum of Understanding (MOU) regarding interpretations of the agreement under the Foreign Account Tax Compliance Act (FATCA) has been signed by the United States and Switzerland.
Signed in Washington at the end of last week by Mark Mazur, US Assistant Secretary for Tax Policy and Manuel Sager, Swiss Ambassador to the United States, the MOU details each country’s technical and administrative interpretations of the agreement.
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Articles
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Mareva Mechanics
Andrew Rogerson provides a practical guide to obtaining worldwide freezing orders.
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Agile working is coming
Taking a look at my calendar for the past year confirms one thing: I am not immune from the global pace of change. Neither, I suspect, are you. Financial crises, increase…
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