Peru rules on BO declaration for 2022 and 2023 With the Superintendency Resolution No. 41-2022/SUNAT (Resolución de Superintendencia N° 41-2022), Peru’s National Superintendence of Customs and Tax Administration (Superintendencia Nacional de Aduanas y de Administración Tributaria, SUNAT) has established who must declare ultimate beneficial ownership for the years 2022 and 2023. The provision applies to...Read More

Isle of Man trust law amendments under consultation With the Trust and Trustees Bill 2022, the Treasury of the Isle of Man aims at modernising the Country’s trust legislation in order to provide more certainty and clarity to users, as well as making the jurisdiction more competitive in the provision of trust services. The main...Read More

New Zealand publishes BO registry proposals New Zealand’s government has announced that a Bill requiring companies and limited partnerships to provide accurate information on their beneficial owners to a central government registry will be introduced following a consultation later in 2022. In 2021 the Financial Action Task Force (FATF) released a mutual evaluation review on...Read More

Switzerland prepares to ratify the Hague Convention on the choice of court agreements In the meeting of March 30, 2022, the Federal Council opened a consultation (which will end on July 7, 2022) in relation to the Federal Decree that would acknowledge Switzerland’s ratification of the Hague Convention on choice of court agreements. The Convention...Read More

New Zealand introduces minimum standards for financial reporting of trusts At the beginning of March, the New Zealand Government introduced a series of more stringent disclosure requirements for taxable domestic trusts. For income years following the 31st March 2022, trustees will have to submit to the Inland Revenue Department (Inland Revenue) a statement of profit...Read More