The Isle of Man has launched a consultation on legislative changes to ensure the territory remains fully compliant with international standards on recording details of the beneficial owners of legal entities.
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The Global Financial Centres Index was released on September 19, 2019, charting the top onshore and offshore financial centers worldwide, and for the first time the most innovative financial technology hubs.
The OECD has issued another update on jurisdictions‘ progress to amend their preferential tax regimes to remove harmful elements under the OECD base erosion and profit shifting Action Plan minimum standard on harmful tax regimes (Action 5).
The governments of Jersey, Guernsey, and the Isle of Man have jointly announced a series of steps to improve the accessibility and transparency of their respective registers of beneficial ownership information.
The UK Crown Dependencies have added to joint guidance issued in December 2018 on the economic substance requirements that are effective for accounting periods commencing on or after January 1, 2019.