Taxation

ALERT: Loss of offshore tax protections

Recent legislative changes to virtually all offshore jurisdictions have shone a spotlight on mounting liabilities for professional accountants, lawyers and tax advisers regarding tax planning for clients. Significant amendments to legislation have significantly impacted current and historical corporate formation, company maintenance regimes and related operating costs in these jurisdictions. Professional advisors must prevent imminent exposure …

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New regulations for overseas jurisdictions

Recent changes in Economic Substance Laws in overseas jurisdictions have begun to impact Hong Kong companies incorporated overseas in the British Virgin Islands (“BVI”), Bermuda, and the Cayman Islands. The new amendments include requirements such as maintaining physical premises staffed sufficiently to realistically carry out the operations of the business in the location where the …

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