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 removed Antigua and Barbuda from its tax haven blacklist on Tuesday, an instrument that has been slammed as ineffective in the past by anti-poverty groups. The list, approved by the
Polling comes as 260 millionaires and billionaires sign new letter, directed at political leaders attending the World Economic Forum in Davos, saying they would be “Proud To Pay More” in taxes.
A game-changing shift is underway as roughly half of U.S. and European asset managers are embracing digital asset custody. Despite regulatory concerns, many experts including CKC.Fund contend that institutional
KKR’s family office survey of 75 chief investment officers around the world found that family offices will have 52% of their portfolios invested in alternative investments this year, up from 42% in