Private Groups attracting ATO attention

The ATO has once again shown Private Groups that it is committed to greater transparency – however only this time, it is the ATO that is being transparent. Late last week, the ATO released a list of behaviours, characteristics and tax issues that will attract its attention in relation to Private Groups. The release can … Read more

France – Latest news for trusts

The trust regime in France was marked by two events this summer: the suspension of the right to consult the public register of trusts, and a decision of the French Supreme Court which brings into question the constitutionality of the fine for failure to comply with trust reporting duties. We discuss these two developments in this … Read more

Tax Adviser or Australian Taxation Office Informer? The Mandatory Disclosure Proposal

As part of the 2016-17 Federal Budget, the Government announced that it will introduce Mandatory Disclosure Rules to require tax advisers (and in certain circumstances taxpayers) to report ‘aggressive tax arrangements’ to the Australian Taxation Office ("ATO"). At the same time, Treasury released a discussion paper, OECD Proposals for Mandatory Disclosure of Tax Information.  This … Read more

UK Budget 2016

Last week the UK Chancellor of the Exchequer handed down his eighth Budget. Whilst the 'sugar tax' will attract many of the headlines, there was much else to digest for corporates and individuals alike.  Read more

The Proposed Automatic Exchange of Financial Information by the Hong Kong Inland Revenue Department with other Governments

The Hong Kong Government proposes to introduce draft legislation early this year in respect of a new information collecting regime from banks, custodians, insurance companies, brokers and investment entities.  The regime involves the collection of certain financial information of overseas tax resident account holders from such entities by the Inland Revenue Department ("IRD") and the … Read more

Trust filing duties under the French Tax Code

Although an entity is not identified as a "trust" in its country of establishment, it could fall within the scope of the filing duty in France in relation to trusts as long as it meets the French Tax Code (hereinafter "FTC") definition of a trust, i.e. the legal relationship created in a foreign State by … Read more