Germany drafts bill to tax the sale of property companies owned by non-residents A draft bill for the German Annual Tax Act 2018, published by lawmakers in late June, proposes to levy taxes on the sale of real estate companies owned by foreign-based taxpayers. Content of the new regulation The new right to levy taxes...Read More

China’s super-rich lead the way as applications for British millionaire visas surge Tier 1 visa applications by those prepared to invest US$2.65 million in the UK are up by 46 per cent, with Chinese continuing to be the most common applicants There has been a 46 per cent increase in the number of the global...Read More

SIX to launch full end-to-end and fully integrated digital asset trading, settlement and custody service Switzerland’s stock exchange – owned and managed by SIX – today announced that it is building a fully integrated trading, settlement and custody infrastructure for digital assets. SIX is regulated as an operator of Financial Market Infrastructure (FMI) by Swiss...Read More

TRUSTS: New guidance on TRS published by HMRC HMRC has published further information and guidance on the Trust Registration Service (TRS) on the Gov.uk website today. HMRC has confirmed that it will be publishing additional guidance in stages over the summer period, some of which will include scenarios and situations where there is no trigger...Read More

MAURITIUS: Eighty per cent tax exemption on foreign profits Mauritius’ 2018-2019 budget abolishes the deemed foreign tax credit regime currently available to companies holding a Category 1 global business licence, as from 31 December this year. Instead, all non-bank businesses will be exempted from income tax on 80 per cent of their foreign source dividends...Read More