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.
HM Revenue & Customs’ tax unit, known for targeting the affluent, has more than doubled its revenue from wealthy individuals in a single year, amassing over £1.5 billion in 2023-24 amidst
Finance ministers and central bank governors from the G20 group agreed last month to promote efforts to address climate change, including voluntary just transition plans, in their last meeting ahead
Press Release from Carey Olsen, Friday 30 May, 2025. Carey Olsen partners Tim Haynes, Helen Wang and Matthew Watson, and counsel Kate Lan and Amelia Tan have featured in the Asian Legal Business (“ALB”)
The European Commission has published the implementing regulation on public country-by-country reporting, providing the final common template and electronic reporting formats—jointly referred to as