- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

VAT update: recovery procedure in the UAE and 2020 SAF-T confirmed in Norway

Need to catch up on what’s happening in the world of VAT and wider tax updates? Here’s a summary from our global tax team.

Shakira appears solemn as she pleads innocent in tax evasion case

‘Shakira has always, including in the period between 2011 and 2014, met her tax obligations in every country she has worked in,’ the statement read.

Implementation of tax transparency initiative delivering concrete and impressive results

Voluntary disclosure of offshore accounts, financial assets and income in the run-up to full implementation of the AEOI initiative resulted in more than EUR 95 billion in additional revenue (tax, interest and penalties) for OECD and G20 countries over the

AIM and IHT: how investing in this market can ease a tax bill

Investing in AIM stocks is one way of mitigating inheritance tax. James Rae of Charles Stanley offers a basic guide to how AIM and IHT planning works

British territories help multinational firms dodge billions in tax each year – report

The Bahamas is in ninth place, despite recent international tax compliance efforts.

The wealthy businessman who paid just £35.20 in tax

It has my signature on it but what I can say is that no such meeting ever took place

Wealthy families dominate use of UK inheritance tax breaks

Relief on transfer of business and farm assets allows rich to slash tax bills

KPMG hosts City of London Police at Financial Crime Investigation Unit Stakeholder Forum

The City of London Police walked delegates through Operation Shaniko

Calls for tax breaks to be capped for wealthy

Tax Justice UK’s new research finds the government is handing out up to £666 million a year in inheritance tax reliefs on land and business property to families who are already well off.

Tax-efficient EIS companies take in £2bn despite clampdown

HMRC rule change on low-risk schemes sees drop in funding for first-time applicants

UK Tables Regulations For Offshore Intangibles Measure

This means that the measure will only apply to low-tax jurisdictions with which the UK does not have a full tax treaty

Italy offers up to 90% tax relief to working expats willing to relocate

Italy has extended and broadened the scope of its special tax regime for newly resident workers (lavoratori impatriati) by increasing the amount of the tax exemption from 50% to 70% for the first five years after relocation and opening it to to any worke

Never has so much (tax) been paid by so few

Overall, never has the UK’s public finances been so reliant on such a small targeted group of individual taxpayers.

IoM '17th worst tax haven' in the world

Launched this week, the index will be published every two years.

British overseas territories top corporate tax loophole index

A British government spokesman said tackling tax avoidance was a priority and that the country had "been at the forefront of international action to reform global tax rules".

HMRC reaches prosecution referral target again

According to the news site, this figure could increase in the future due to data received by HMRC relating to offshore accounts from jurisdictions such as Bermuda and the Cayman Islands.

Prosecutions top 1,000 as HMRC focuses on tax evasion by individuals

The government launched 1,007 prosecutions against individuals for tax evasion offences last year, as the HMRC clampdown on tax evaders intensified

Andersen Global Expands UK Locations

The Manchester office will continue the firm’s focus on advisory and compliance services and is joined by Partner Matt Hodgson.

Pass on your wealth without paying a penny to the taxman: Inheritance tax cost £5.4bn last year - and more are set to pay it

And there is no escape if you give your assets away during your lifetime, as anything given within seven years before your death may also be subject to tax — and could mean your relatives are chased for money after you've gone.

Further Tax Changes for Irish Property Funds

The Irish Government has advised that the tax treatment of Irish property funds may face further changes later this year.