Concerns raised in the initial consultation have led to a scale back of original proposals but practical issues remain.
The Spring Statement 2025 saw proposals for new powers requiring financial institutions and other third parties to disclose information about and cease providing goods or services to suspected promoters of tax avoidance.
Following an initial consultation, these proposals have been scaled back in new draft legislation. However, the new powers will still impose a significant additional compliance burden on financial institutions (and others) and key questions remain.
In an article first published on the UK Finance website, Jack Prytherch, Partner at Osborne Clarke, sets out the latest developments on the proposals for promoter action notices (PANs) and promoter financial institution notices (PFINs).
The European Union’s crypto regulatory framework MiCA goes into full force, heralding significant changes for the industry. Major events like the ICO boom and the implosions of Terra and FTX have
Extreme wealth and income inequality will eventually destroy a real democracy. Why? Because that disparity of power and resources allows a relatively small number of people and groups to subvert the
The Internal Revenue Service (IRS) is enhancing its oversight of cryptocurrency transactions through the use of artificial intelligence (AI). In a groundbreaking move, the IRS released a draft of Form
The Greek Finance & Economy Ministry and the Independent Authority for Public Revenue (AADE) have reported significant progress with new tax measures aimed at freelancers and independent business