New Cyprus-Luxembourg double tax agreement enters into force Introduction The double tax agreement between Cyprus and Luxembourg was signed on 8 May 2017 and entered into force on 21 May 2018 following the completion of both countries’ domestic ratification procedures. The agreement will apply to income arising from 1 January 2019 with regard to taxes...Read More

Financial Services Act (FinSA) and Financial Institutions Act (FinIA): Main Implications of the newly adopted Laws on the Fund Industry   Recently, the Swiss parliament has adopted two new laws – the Financial Services Act and the Financial Institutions Act – which will have significant implications for the Swiss financial market and, in particular, the...Read More

Trusts (Amendment No. 7) (Jersey) Law 2018 A new definition of “Officer” This new definition will cover a myriad of positions as follows: A director, manager, secretary or other similar officers of a corporation; A foundation council member; A general partner or a limited partner participating in management of an incorporated or separate limited partnership;...Read More

UK requirement to correct offshore affairs applies to trustees too HMRC has just updated its guidance on the new requirement to correct offshore non-compliance, clarifying details of the deadlines, and how to reduce penalties once the taxpayer becomes liable. With the 30 September requirement-to-correct (RTC) deadline now less than 80 days away, law firms are...Read More

Tax Proposal 17 – Council of States launches further measures for the corporate tax reform   After the Swiss Federal Council has published its dispatch on the Tax Proposal 17 on 21 March 2018, the legislative proposal has been discussed in the first chamber of the Parliament (Council of States) on 7 June 2018. The...Read More