Click here to request for the latest edition of this newsletter

FEATURE

The Royal Court provides guidance on the ratification of acts done by invalidly appointed trustees

CASE SUMMARIES

China

  • Shandong case: Trustee escaped tax on trust income

Hong Kong

  • Hong Kong Court of Final Appeal confirms money laundering offence does not require actual knowledge nor does the property need to be actual proceeds of crime

Switzerland

  • Swiss banks must give your money back

United Kingdom

  • High Court provides further guidance as to the recoverability of costs in trust proceedings

LEGAL DEVELOPMENTS

Argentina

  • Details of the tax amnesty

Brazil

  • Inclusion of Dutch Holding Companies on the Brazilian privileged tax regime list
  • New rules regarding the disclosure of a legal entity’s corporate chain up to the individual deemed as its final beneficiary

Chile

  • Chilean corporate tax changes
  • Chilean IRS to audit taxpayers that failed to comply with BEPS inspired tax filing

Colombia

  • The expected tax reform

France

  • Non disclosure of bank accounts/portfolios held outside France by French tax residents: the 5 percent penalty ruled unconstitutional

Germany

  • Full tax exemption from German inheritance and gift tax for gratuitous transfer of work of art
  • Non-recognition of a foundation for preservation and promotion of art work as non-profit entity for German tax purposes
  • German rules regarding tax allowances for non-German tax residents for inheritance and gift tax purposes violate EU law

Indonesia

  • Tax amnesty law: An opportunity for taxpayers to clean up their unsettled tax obligations

Mexico

  • Mexican tax developments - reporting obligations

Saudi Arabia

  • Foreign Investment

Taiwan

  • New anti-avoidance rules

Thailand

  • Remedy for Board of Investment companies?

Turkey

  • Turkey to introduce a new tax amnesty law

United Kingdom

  • Behind the veil: corporate transparency in the UK
  • Taxation of UK resident non-domiciliaries - update

United States

  • The CFTC proposes significant relief for non-US market participants
  • Impact on business valuations of lapsed rights and restrictions on liquidation of an interest: Is this the end of valuation discounting as we know it? - Section 2704 proposed regulations released

REFLECTIONS

  • Brexit and wealth management structures
  • Artificial intelligence and the Wealth Management space
  • Owning and disposing of works of art: A wealth management perspective from Switzerland – Part 1
Explore More Insight