Singapore ‘s ACRA’s enhanced regulatory framework: anti-money laundering & counter terrorism financing obligations of corporate service providers – On 9 April 2015, the Accounting and Corporate Regulatory Authority (“ACRA”) announced that the ACRA (Amendment) Act 2014 and its related regulations, will take effect from 15 May 2015. The ACRA (Amendment) Act 2014, is supported by […]

As part of a push to control money laundering in the global banking system, the HKMA has called on lenders to peek into customers’ filings Banks in Hong Kong are calculating just how much tax expertise they will need to add over the coming year as the regulator puts them on the hook for the […]

An enhanced regulatory framework for corporate service providers to combat money laundering and terrorism financing will take effect from May 15, says the Accounting and Corporate Regulatory Authority. An enhanced regulatory framework for corporate service providers (CSPs) to combat money laundering and terrorism financing will take effect from May 15. The strengthened regime for CSPs […]

The Singaporean Ministry of Finance, Monetary Authority of Singapore and the Inland Revenue Authority of Singapore have proposed regulations to help financial institutions in Singapore comply with the US Foreign Account Tax Compliance Act (FATCA). FATCA requires all financial institutions outside of the US to submit information on financial accounts held by US persons to […]

A joint investigation by the UK, the US and Australia to identify those using offshore tax havens to hide wealth has uncovered more than 100 people. Her Majesty’s Revenue and Customs (HMRC) said some of these were already under investigation for tax evasion, the BBC reports. It said it has obtained large quantities of documents […]