Blog
SEM Insight: Mauritius Stock Exchange Makes Significant Changes To Regulations
The Stock Exchange of Mauritius (SEM) has made a number of changes to its regulatory framework with a view to enhancing its international competitiveness. We have highlighted some of those below. 1. Fast Track Listing Process for International Issuers. With a view to assisting international issuers with secondary listings on…
SOUTH AFRICA: Budget 2017 – Exchange Control Relaxations for Intellectual Property Transactions
Before the speech of the 2017 South African Budget, South African residents were prevented from selling, transferring or even assigning an IP to a non-resident without prior approval being obtained from the SA Treasure Bank, and obtaining such approval to export IP was not an easy task. South Africa first…
Mauritius Double Tax Treaty Update April 2017
Mauritius already enjoys one of the better treaty networks in the world, regarding investment into Africa. This month has brought further news regarding the expansion of that network with the following news announced: 11th March 2017 announced that Ghana and Mauritius have signed a tax treaty in Port Louis. We…
Italy Introduces Non-Domiciled Tax Regime
Italy has taken the plunge and set out to attract high net worth individuals to its shores. It may prove remarkably attractive. The Italian Tax Code was amended in the 2017 budget approved by Parliament in December 2016. The timing coming on the heels of the tightening up of the…
Common Reporting Standard: BVI Extends Notification and Reporting Deadlines
On 24 March 2017 the British Virgin Islands government announced that the 2017 deadlines for notification and reporting obligations under the Common Reporting Standard (CRS) will be extended by two months. BVI Financial Institutions will have until 30 June 2017 to register with the BVI International Tax Authority (ITA) and…
Signing of Revised Double Taxation Avoidance Agreement Between India and Cyprus
Almost 3 months post Cabinet approval, India has signed a revised DTAA with Cyprus, which is considered by foreign investors as a popular tax haven. It is not later than last year, on 18 November 2016, that signature of the new agreement for the avoidance of double taxation and prevention…
CRS notification and reporting dates extended
CRS notification and first reporting deadlines have been extended by two months as announced in the Cayman Islands. The Cayman Islands have announced that they are extending the 2017 deadlines by 2 months, for Cayman Financial Institutions, to notify their status to the Cayman Islands Tax Information Authority (TIA) and file first…
Cayman Gears Up For Busy Business Friendly Legislative Agenda
It has been reported in the Cayman press that Wayne Panton’s ministry has prepared eleven bills, mostly relating to the regulatory framework surrounding new financial services vehicles, and to improve the business environment. Laws such as the Companies Management (Amendment) (No. 2) Bill, 2017; the Companies Amendment (No. 2) Bill,…
BVI Rolls Out Their Beneficial Ownership Secure Search System (BOSS)
Following on from the recent news in the Cayman Islands that they will be implementing a centralized platform of beneficial ownership, the BVI has also now revealed their New Beneficial Ownership Secured Search System. This is a new innovative technology platform called BOSS (Beneficial Ownership Secure Search System), which will…
Cayman Introduces A Centralised Beneficial Ownership Register
We can now report that Cayman has taken the decision to implement the concept of a centralised platform of beneficial ownership information by the 30 June 2017. The proposed beneficial ownership regime is welcomed as it is anticipated that this will bring an end to the intense debate that has…