Singapore has been accelerating its tightening of various investment regimes since March after at least one of the defendants in a recent SGD3 billion (USD2.2 billion) money laundering case was involved a family office that received tax exemptions, Bloomberg reported, citing people with the knowledge of the matter. Singapore asked family offices and hedge funds to provide more information and further close down inactive business entities.
Family offices that were reportedly granted tax exemptions received new forms in May requesting more detailed information, and the forms need to be submitted by the end of June. Meanwhile, the Monetary Authority of Singapore (MAS) confirmed that it would abolish the licensing regime for hedge funds with assets of up to USD250 million by 1 August and replace it with a more stringent reporting mechanism.
Wealthy, younger investors have a very different view of the best way to invest than their older peers, preferring real estate, cryptocurrencies and digital assets, and private equity to U.S. stocks,
The U.S. Department of the Treasury and IRS have released final rules on Inflation Reduction Act provisions that aim to expand the reach of the clean energy tax credits. The Act created the new elective
Around 50 demonstrators gathered at the entrance of the COP29 venue this morning, urging wealthy nations to uphold their financial commitments for climate change adaptation and mitigation in the Global
The summer trade deal between the European Union and the Trump administration was supposed to mark a turning point in transatlantic relations after months of uncertainty. A 15% tariff cap wasn’t ideal,