Bermuda’s appeal as a domicile for (re)insurance will be dulled by the OECD’s latest international tax plans. However, the impact is likely to be less than the territory experienced after the US tax reform of 2017, says credit ratings agency Fitch Ratings.
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.
The European Commission has approved under the Temporary State Aid Framework a Cypriot aid scheme allowing for the deferral of VAT payments by companies affected by the coronavirus pandemic.
The UK Government has newly tabled two regulations that are intended to ensure that Gibraltar-based financial services firms continue to have access into UK markets, once the UK leaves the EU, in a no-deal scenario.