Chile plans to introduce wealth tax On July 1, 2022, Chile’s government introduced a tax reform which seeks to establish a wealth tax on the top 3 percent of the country’s highest earners, which is now waiting for approval from the National Congress. This proposal has been presented following OECD’s latest report on Chile’s tax...Read More

Switzerland will implement OECD’s minimum tax rate On 23rd June 2022, the Swiss Federal Council published the amendments to the constitution to implement a minimum tax rate for certain companies recently agreed by the OECD and G20 member states. In fact, in October 2021, the Organisation for Economic Co-operation and Development (OECD) published key parameters...Read More

FATF: consultation opens on beneficial ownership of trusts Following its last plenary meeting, on 23 June 2022 the global Financial Action Task Force (FATF) released a consultation paper on revisions to its Recommendation 25, which will be open until August 2022. The consultation will focus on enhancing transparency on beneficial ownership of legal arrangements such...Read More

UK’s Registrar of Companies to be granted more powers On May 10 2022, the Queen’s Speech presented to parliament the proposal of a new Economic Crime and Corporate Transparency Bill. Discussion over this draft Bill firstly emerged when in February 2022 the register of overseas entities was introduced to the UK parliament. The Bill is...Read More

Canada Alberta proposes to update its trust legislation The Legislative Assembly of Alberta has tabled a Bill proposing to update its current legislation to make the creation and management of trusts more efficient. With the Trustee Act proposed under Bill 12, the Legislative Assembly of Alberta aims to update its legislation in order increase protection...Read More