@investorsA public register of beneficial owners will be implemented in the UK in April 2016 as announced by the British government.
The mandatory register of trusts only applies to taxable trusts and it will not be public.
This is a welcome development since in common law countries such as the United Kingdom, trusts are regularly used to protect vulnerable beneficiaries, some of whom could be at significant risk if their identities were published.
An essential point here is that all trusts will remain confidential and will not feature not on a public register.
For companies and foundations, the register will be publicly available to those with a 'legitimate interest'.
This initiative follows the European Union's Fourth Money Laundering Directive and its associated regulations.
The Africa Enterprise Challenge Fund (AECF) is a $250m challenge fund that awards grants and repayable grants to private sector companies on a competitive basis and in support of innovations in agriculture, agribusiness, renewable energy,...
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'European Commission’s new president still under pressure over low tax rates for multinationals, reports the Irish Times.
The European Commission’s new president, Jean-Claude Juncker, comfortably has survived a no-confidence vote brought over news that Luxembourg had lured multinational businesses with super low tax rates during his period as prime minister.
The censure motion in the European Parliament in Strasbourg, France, was resoundingly defeated by 461 votes to 101.
However, the vote was hardly an auspicious start for Mr Juncker, under fire in his first month in office both over his role when Luxembourg leader and over a potential conflict of interest as head of a Commission..'
Demands against Argentina by so-called “me-too” bondholders, who are asking to be paid in the same conditions as Elliot and Aurelius Managment holdouts, are starting to pile up as holders of Argentine bonds issued under German law who didn’t take part of the country’s debt swap filed a new complaint at a United States court to demand full payment.
Brazilian financial markets took a beating on Monday after polls showed President Dilma Rousseff pulling past challenger Marina Silva ahead of Sunday's election. The Brazilian currency closed at its weakest level since December 2008 while the benchmark Bovespa stock index notched its biggest one-day loss in over three years.
WASHINGTON, Sept 26 (Reuters) - A group of top U.S. financial regulators urged banks to quickly fix their software to protect it against the "Shellshock" computer bug, saying it could expose them to fraud.
Marine Le Pen, avec 29 à 31%, sortirait nettement en tête si le premier tour de la présidentielle avait lieu dimanche, aucun rival ne dépassant 23% - Nicolas Sarkozy, Manuel Valls, ou Alain Juppé, chacun autour de 23%, ou François Hollande, à 21% -, selon un sondage Ifop pour Marianne publié ce jeudi. Ce sondage envisage divers scénarios de confrontations possibles. Au second tour, la présidente du Front national serait nettement battue, avec 45% des voix dans le meilleur cas de figure pour elle.
Au premier tour, François Bayrou obtiendrait de 7 à 9%, Jean-Luc Mélenchon 8%, Cécile Duflot et Nicolas Dupont-Aignan entre 3 et 4% et l’extrême gauche de 2 à 3%. Que le candidat de l’UMP soit Nicolas Sarkozy ou Alain Juppé, le président sortant, François Hollande, recueillerait 21% des voix, ce qui représente un gain de sept à huit points par rapport à la dernière enquête de fin octobre 2014. Que l’un ou l’autre soit le candidat de l’UMP, le Premier ministre Valls ferait mieux que François Hollande, avec 23% (contre 17% dans l’enquête de juillet 2014 qui le testait face à Nicolas Sarkozy et d’autres candidats dont Mme Le Pen).
Le fisc français semble s'intéresser au maire du 1er arrondissement de Paris, l'UMP Jean-Francois Legaret. L'Administration fédérale des contributions (AFC) a accepté de collaborer avec les autorités compétentes de l'Hexagone. ...
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So we have this announcement from the OECD. “Switzerland has today become the 52nd jurisdiction to sign the Multilateral Competent Authority Agreement [MCAA], which will allow it to go forward with plans to activate automatic exchange of financial account information in tax matters with other countries beginning in 2018.” Which all sounds jolly good, and it is …
Plus de 300 multinationales auraient profité des règles fiscales du pays pour réduire leur imposition. La Commission, désormais dirigée par le Luxembourgeois Jean-Claude Juncker, se dit prête à prendre des sanctions contre le Luxembourg.