... secret that the UK and Gibraltar have a strong cooperation in the financial field. Motorist insurance is a very big part of economic cooperation of these countries. Authorized representatives of both countries confirmed that all legal and technical standards of the collaboration would be updated and changed according to the new rules. Formalization of Brexit will not affect Gibraltar’s access t...
Path: Blog...ess will only grow. Investors, traders, businessmen will all have more possibilities to operate. Also, the more innovative your activity is, the more favorable climate you will have. • The Chinese government promises to implement European legal standards of investments and management. This is made inter alia for promoting other Chinese regions to implement the same norms and standards. •...
Path: Blog**Labuan**, the official federal territory of Malaysia, is considered as a reasonably good place for the international business. However, it still needs to improve action standards with the BEPS Action 5. It is the latest standard of the OECD that should be followed by members of the BEPS Inclusive Framework. Adapting tax legislation to the **new rules** is supposed to start at the earlier co...
Path: Blog...t to mention that the Gibraltar Financial Services Commission released declarative rules for prospective licensees who will become DLT providers. For example, such business should be conducted honestly, using the adequate resources and high business standards. Professionalism and client care are also a must. An important part of these guidelines is also requirement to have the secure systems and c...
Path: BlogThe **newest tax transparency standards** are evolving all over the world. In the early 2018, the UN ECLAC (United Nations Economic Commission for Latin America and the Caribbean) celebrated its 70th anniversary. What happened and how business conditions will change in this region? We will analyze the newest tendencies and explain how business will develop in **LatAm** and the **Caribbean**. ...
Path: Blog...t of the **Free Trade Zone (FTZ)** in China. Its development plan was released in November 2017. The main idea is to create a unique space in Shanghai where international and Chinese companies will be able to function according to the international standards. The Chinese government claims that the FTZ will be mostly governed by the European standards and rules. Therefore, the climate for forei...
Path: Blog**Belize’s 2018 budget** brought significant changes for indirect **tax system**. These revisions are mostly directed at complying with the global taxation standards, therefore, concerning Goods and services tax (GST) and Excise tax. GST will change for internet data purchase. From now on, **12,5 % tax will be collected from everyone, apart from schools, who purchase internet data**. This a...
Path: Blog...ister negotiates removal of the territory from the list, the good name will be restored. Taking into account the above, before starting business in offshore jurisdiction, it is important to check if its provisions correspond with the BEPS minimum standards. This compliance means absence of harmful tax provisions, tax treaties, work on cross-border dispute resolution and prevention of tax abuse....
Path: BlogRecently, Jersey started to implement **international anti-money laundering and counter-financing of the terrorism standards**. Due to this, the **Jersey Financial Services Commission** initiated the first stage of the review and assessment process. Risk assessment will be based on collection and analysis of data from the licensees. How are the collection and analysis conducted? First of a...
Path: Blog...TF (Iraq) and APG (Vanuatu) as they continue to further strengthen their AML/CFT regime.* **FATF has taken off Vanuatu from its Grey List, nevertheless, Vanuatu remains under requirement to maintain its implementation efforts and comply with FATF standards.** It is necessary for Vanuatu to obey FATF rules and any adverse changes to governmental AML&CTF policy would likely result in its returnin...
Path: Blog... to deliver courts as a service, powered by technology and extended through cooperation agreements and alliances. By harnessing blockchain technology, Dubai will be firmly positioned at the forefront of LegalTech and judicial innovation, setting the standards for countries and judiciaries to follow.”* In accordance with the DIFC, its Courts are now collaborating with Smart Dubai on a numerous...
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