Category: Offshore

Arbitration / Arbitration Act / Bermuda / Debt / Immovable Property / Infrastructure / Interest / Legislation / Offshore / Offshore Trusts

Bermuda: Enforcement Of Judgments 2020 – Trends And Developments

Published by: Mondaq - September 1, 2020

Bermuda is a self-governing overseas territory of the United Kingdom. It has a population of over 60,000 people on a land mass of just 21 square miles. The island group is located in the Atlantic Ocean, approximately 760 miles due east of Cape Hatteras, North Carolina. Surrounded by coral reefs and the Gulf Stream, Bermuda remains a popular destination for tourists but its infrastructure, flexible and innovative corporate structures and strong regulatory environment have made it a leading offshore jurisdiction for company incorporations, including for a number of companies listed on the main New York and Hong Kong stock exchanges ... - Continue reading

Canada Revenue Agency / Capital gains / Double Taxation / Exemptions / G7 / Government Bodies / Interest / Lease / OECD / Tax Credit / Tax Planning

Canada: Don’t Let Your Dream Vacation Home Become A Tax Nightmare

Published by: Mondaq - July 29, 2020

Renting your foreign property may require you to disclose information to the Canada Revenue Agency (the "CRA"). A Foreign Income Verification Statement is required to be filed with the CRA where the adjusted cost base of the property exceeds CDN $100,000.  ... - Continue reading

EU / European Commission / European Parliament / Interest / Offshore Tax Evasion / Tax Avoidance / Tax Planning

EU to launch tax observatory

Published by: MNE Tax - July 8, 2020

The EU’s awareness of the relevance of tax policy is clear. On 6 July, the European Commission called for proposals for the creation of an EU tax observatory. This follows the adoption of the Commission Decision on the financing of the preparatory action EU Tax Observatory – Capacity building to support Union policy making in the area of taxation and the adoption of the annual work programme for 2020 on 16 June. ... - Continue reading

Covid-19 / Multinationals / Offshore / Tax Relief / USA

Voices CARES Act offers overlooked opportunities for tax refunds, but first check cross-border prices

Posted On: June 16, 2020

Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, U.S. corporations can now elect to carryback losses incurred in 2020 for a five-year period (2015 to 2019). While losses incurred in 2018 and 2019 can also be carried back five years, this article addresses 2020 current year opportunities. The… – Continue reading

Banking / Cayman Islands / Hedge Fund / Offshore / Offshore Tax Evasion / Regulatory / Tax Avoidance / Tax Haven

Cayman tops ranking of money hideouts

Posted On: February 19, 2020

Cayman is now the top enabler of financial secrecy in the world, according to the findings from the Tax Justice Network’s Financial Secrecy Index 2020. In second and third place respectively, were the United States and Switzerland. The Tax Justice Network has called on policymakers to prioritise sanctions against Cayman… – Continue reading

Banking / Business / Debt / Guaranty Trust Bank / Infrastructure / Legislation / Offshore / Offshore Investments / Offshore Trusts / Tax Laws

GTBank Urges FG to Introduce Structural Reforms

Posted On: February 10, 2020

The recurring inability of government to achieve its projected non-oil revenues over the years points to the need for urgent structural reforms, a report by Guaranty Trust Bank Plc (GTBank) has stated. The bank stated this in its 2020 macroeconomic and banking sector outlook, obtained yesterday. It stressed the need… – Continue reading

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