Three Countries Added To The List Of Non-cooperative Tax Jurisdictions
Adding three nations: Anguilla, Bahamas, Turks and Caicos Islands to the EU list of non-cooperative jurisdictions for tax purposes
[Important] Renewal Requirements & Re-registration Application Request For All Belize IBCs
Significant keynotes of renewal requirements as well as re-registration application for Belize IBCs when the Online Business Registry System (OBRS) is launched
Updates on Key Legislative Changes in BVI
The British Virgin Islands (BVI) is a prime jurisdiction for business charters. A leading force in the offshore circle, the country is committed to setting an example by aligning with global regulations and adopting a reflective approach to reforming its legislative framework. The first half of 2015 marks the start of the jurisdiction’s long-running effort…
The Belize Companies Act 2022: Key Highlights For Business
The Belize Companies Act 2022, which repeals and replaces the International Business Companies Act, Cap. 270 and the Companies Act, Cap. 250, was passed on August 5, 2022.
PANAMA: Opening The Door for The Use of Cryptocurrency
On Apr. 28th, 2022, Panama’s National Assembly passed its latest legislative Bill No. 697 to regulate the movements of digital assets within the country.
The Bahamas’ next goal is to comply with all 40 FATF recommendations
The Bahamas’ enhanced efforts to follow the FATF Recommendations. Currently, the Bahamas has been compliant or largely compliant among 38 out of the 40 FATF Recommendations.
European Council Reviews List of Non-cooperative Countries for Tax Purposes
The updated list of non-cooperative jurisdictions On 24th Feb 2022, the EU Council published the revised list of non-cooperative jurisdictions for tax purposes. According to Annex I, the so-called ‘blacklist’ remained unchanged, which include 9 jurisdictions: American Samoa Fiji Guam Palau Panama Samoa Trinidad and Tobago US Virgin Islands Vanuatu Further commitments by cooperative jurisdictions…
Changes to Accounting Records Requirements in Panama
In accordance with Law No. 52 of 2016, all legal entities that operate outside the Republic of Panama and those that exclusively operate as asset holders, inside or outside of Panama territory are required to maintain accounting records along with supporting documentation for at least 5 years. *Legal entities refer to corporations, limited liability companies,…
Belize Extends the Economic Substance Filing Deadline
On 28th Jan 2022, the Financial Services Authority of Belize issued a Public Notice announcing the extended timeline for economic substance form submission from 31st Jan 2022 to 1st April 2022. *We advise that all qualifying entities respect this new deadline as the Commission has confirmed that there will be no further extensions. The change…
EU Officially Removes Anguilla, Seychelles and Dominica from Its Tax Blacklist
Anguilla, Seychelles, and Dominica are all nearing a full-release scenario from the EU’s list of non-cooperative in the latest delisting announcements.
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