South East Asia

Singapore and United States affirm efforts to strengthen sharing of tax information

A joint statement issued by the United States and Singapore suggests that US authorities are seeking to accelerate off-shore tax enforcement aimed at US accountholders and financial institutions in Singapore. A joint statement was issued on 2 August 2016 to … Continue reading

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Filed under Hong Kong and Singapore, Offshore, South East Asia

The UK Supreme Court rules on whether properties held by companies controlled by the husband can be subject of an ancillary relief order (and provides important guidance on “piercing the corporate veil”)

On Wednesday (12 June 2013) the UK Supreme Court handed down its much anticipated judgment in Prest v Petrodel Resources Limited and others [2013] UKSC 34, in which it held that seven properties purchased by the husband through off-shore companies … Continue reading

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Filed under Hong Kong and Singapore, Private wealth and trusts, South East Asia

The UK Supreme Court rules on the ability to set aside transactions in the case of trustees’ errors

Where trustees have undertaken transactions with unintended consequences (usually unwanted or unexpected tax consequences), they¬†have been able to make use of the “Hastings Bass rule” to set those transactions aside. The Hastings Bass principle allows transactions to be set aside, … Continue reading

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Filed under Hong Kong and Singapore, Private wealth and trusts, South East Asia

Private Wealth Newsletter – Autumn 2012

The Private Wealth Team has recently launched a new Guide to Private Wealth in Asia. The Guide summarises the results of research conducted into trusts, estates and probate issues across twelve Asian jurisdictions (China, Hong Kong, India, Indonesia, Japan, Malaysia, … Continue reading

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Filed under China, Japan, Private wealth and trusts, South East Asia