The Bahamas intends to lower the value-added tax rate from 12 percent to 10 percent, the territory announced in its supplementary 2021/22 Budget, released on October 27.
Lowtax.net News: Bermuda Announces Accounting Rules For Digital Asset Businesses
The Bermuda Monetary Authority has released a new consultation on the proposed Digital Asset Business Accounts Rules 2020.
Lowtax.net News: BVI Explains Economic Substance Requirements During COVID-19 Outbreak
The British Virgin Islands‘ International Tax Authority has provided guidance on how companies can meet the economic substance rules during the coronavirus outbreak.
Lowtax.net News: US Insurance Regulator Grants Bermuda Reciprocal Jurisdiction Status
Bermuda has been granted Reciprocal Jurisdiction status effective January 1, 2020, and has had its status as a Qualified Jurisdiction extended by the National Association of Insurance Commissioners (NAIC), after a five-year evaluation.
Lowtax.net News: Cayman Commits To Making Beneficial Ownership Info Public
The Government of the Cayman Islands has announced plans to introduce a public register of beneficial ownership.
Lowtax.net News: Belize Removed From EU’s Tax Blacklist
The EU has removed Belize from its list of non-cooperative tax jurisdictions and Macedonia from its „grey list.“
Lowtax.net News: Jersey Consults On Reporting CRS Avoidance Arrangements
The Jersey Government is consulting on the implementation of mandatory disclosure rules for Common Reporting Standard Avoidance Arrangements and Opaque Offshore Structures.
Lowtax.net News: EU Removes Three Territories From Tax Blacklist
The European Council has confirmed that Aruba, Barbados, and Bermuda are to be removed from the EU’s list of non-cooperative tax jurisdictions.
Lowtax.net News: EU Expands Tax Blacklist, Penalizing Non-Reformers
The EU has tripled its list of non-cooperative tax jurisdictions to include 15 countries.
Lowtax.net News: Ireland, Malta To Close ‚Single Malt‘ Tax Loophole
The tax authorities of Ireland and Malta have signed a Competent Authority Agreement in a bid to prevent the use of the so-called „Single Malt“ tax planning structure.