- Managers of Wealth - Legal - Wealth, private banking and asset management news and opinion

Year-End Tax Planning Considerations for Global Mobility

One other way to simplify year-end tax planning is to account for any relocation or taxable benefits for employees periodically, on a quarterly or monthly basis.

Saffery Champness advises Frog Capital

The recent investment will provide capital to support the ambitious growth strategy of Clue across the next five years.

The ‘cowboy cocktail’: How Wyoming became one of the world’s top tax havens

An oligarch, a dictator’s aide and a beverage tycoon turned to America’s least populated state to shelter assets, the Pandora Papers show.

A year the tide turned in the fight for tax justice

Our analysis of the G7 global tax deal was widely covered in media and press.

UK government to reform stamp duty land tax on mixed-property acquisitions and multiple acquisitions of dwellings

The difference between commercial (up to 5%) and residential rates (up to 17%) is now significant which is no doubt why there has been an increased focus on ways to mitigate this tax burden.

SEB hit with €511m tax demand

The review relates to transactions that were carried out before a change in Germany’s tax legislation came into force in 2016.

The VAT land exemption simplification call for evidence: HMRC’s response

HMRC recommits in the document to publish the long-awaited guidance on its view of dilapidations, overages, call options and rights of light. However, no timeframe for the updates was confirmed.

Dutch tax authority handed record fine for discriminatory data processing

An investigation found that the TCA had been unlawfully processing the nationality data of people who applied for childcare benefits for years.

Rise in UK tax suspected underpaid by large businesses

The figures include £8.1bn in tax believed to have been avoided through transfer pricing - the way multinationals allocate their costs and income between different countries.

Belgium-Netherlands tax treaty to be covered by MLI

The amendments may have significant implications for Belgian and Dutch companies that are receiving income from or carrying out activities in the other country.

Tax Justice Network proposal to FATF’s consultation on beneficial ownership for legal persons

While a multi-pronged approach using many sources of information is welcome, a central beneficial ownership register should become mandatory for all countries, without allowing for “alternative mechanisms”.

Article 123 bis is given a new set of teeth to bite into offshore trusts’ profits

French Tax Bulletin: Article 123 bis is given a new set of teeth to bite into offshore trusts’ profits

New CSSF taxonomy fast track procedure

All Luxembourg based AIFs managed by an AIFM not authorised or registered by the CSSF, should apply the requirements imposed by the AIFM’s competent authority.

UK asset holding company regime

A new elective tax regime for companies which hold investment assets as part of fund structures is being introduced in the UK from 1 April 2022.

Storage sounds simple – but VAT rules are complex

In some instances, the use by a tenant of a building or unit will include the storage of stock or equipment, but that element is ancillary to the business which the tenant is carrying on from those premises.

Central Bank of Ireland Provides Details for Taxonomy Regulation and SFDR Level 2 Fast-Track Processes

The TR requirements will apply from 1 January 2022.

Tax Reform: What's In and What's Out (For Now)

The summary below describes provisions in the House-passed bill that are most likely to affect individual taxpayers and also discusses portions of the original proposal that were cut from the legislation that passed the House.

Global Forum members continue multilateral efforts to advance transparency agenda and fight tax evasion

Celebrating 10 years of Global Forum capacity-building activities, members will also reflect on ensuring transparency and exchange of information benefit developing jurisdictions and help them in their fight against tax evasion and other illicit financial

Foreign Grantor Trusts: Non-US Trust Planning for US Family Members

Non-US patriarchs and matriarchs with US family members can though substantially improve the position for their US family members through the establishment of a so called ‘foreign grantor trust’ (hereinafter ‘FGT’).

Federal Council brings new legal framework on implementation of international tax agreements into force

The revision of the law now also stipulates how mutual agreement procedures are to be carried out at national level, provided the applicable agreement does not contain any deviating provisions.