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.
US Treasury once again proposes new crypto tax rules to “modernize” code. In an effort to keep pace with the rapidly evolving digital currency landscape, the US Treasury has once again put forth
Press Release from Jersey Finance, Monday 13 May, 2024. Jersey Finance continues to build on its presence in South East Asia hosting a series of events last month to further build Jersey’s profile
Croatia and Hong Kong signed an agreement to avoid double taxation of income and property, and prevent tax evasion in a bid to boost bilateral trade of goods and services, the Croatian finance ministry
In its capacity as the 2025 Presidency of the BRICS alliance and incoming Presidency of the UN Climate Change Conference (UNFCCC COP 30) in November, Brazil announced the BRICS’ approval of the bloc’s