Innovation has been at the center of the global conversation especially as countries, including Germany, have been defining survival paths in these uncertain times. The COVID-19 outbreak has essentially worked as a ‘readiness checkup’ for countries on their ability to innovate in the face of changing times. An economy’s response to megatrends, such as […]
Brazil’s Indirect Tax Supreme Court Ruling 2020
Brazil’s Federal Supreme Court as of late gave a choice concerning the dependability of the duty of the Contribution for Intervention in the Economic Domain (CIDE) on finance and indirect tax. In its choice, the Federal Supreme Court found that the rundown of available bases under Article 149 is non-comprehensive. Further, the Court found […]
CSP – Company Service Providers Framework in Abu Dhabi 2020
The Abu Dhabi global market (ADGM) is set to introduce significant changes to its existing Corporate Service Provider CSP and registered agent regime. It has published Consultation Paper No.5 and is inviting feedback and comments on the proposal to introduce a framework for the regulation of Company Service Providers Framework. Subject to certain exemptions, […]
Effects of the Proposed Digital Operational Resilience Regulation in the EU 2020
As technology firmly embeds itself into every aspect of financial services, policy makers are increasingly looking at the sector’s exposure to the risks of this digitalisation. One response from the European Commission is to increase the EU’s rules on ICT risk via a Digital Operational Resilience Act (DORA). The European Commission published the DORA […]
Fintech Trends as a Future for Banking 2020
The rate of disruption occurring in the financial services industry in an exceptional level, with increasingly more fintech organizations, climbing the positions and changing the manner in which innovation upgrades the experience of moving cash. For organizations in the financial services industry, the disturbance brought about by innovation drove changes has been relentless. The […]
Crypto Assets – OECD Uniform Tax Framework 2021
The Organisation for Economic Co-operation and Development (OECD), an intergovernmental organization that promotes better economic policies, is planning to issue a tax reporting framework for crypto assets by 2021. In a report published early October 2020, the OECD said it is “advancing its work to design a tax reporting framework that will ensure tax transparency […]
Economic Substance Regulation Update in the UAE Q4
As part of the UAE’s commitment as a member of the OECD Inclusive Framework, and in response to an assessment of the UAE’s tax framework by the European Union Code of Conduct Group on Business Taxation, the UAE issued Economic Substance Regulations (Cabinet of Ministers Resolution No. 31 of 2019), (the “Regulations”). The Regulations […]
Permanent Residence in the Caribbean – Live and Work in Turks and Caicos Islands 2020
The Turks and Caicos Islands (TCI) Government offers the Permanent Residence status as an immigration status in the Islands. The Government issues a Permanent Residence Certificate (PRC) that allows the person named on the certificate to reside without restrictions on the length of time they can remain in the islands and in some cases […]
Mauritius FSC Guidelines On Fitness And Propriety 2020
The “Fitness and Propriety ” criteria make reference to requirements for evaluating managers, directors and shareholders. Particularly, the ability to fulfil their duties (“fitness”) as well as their integrity and suitability (“propriety”) are examined. This concept is a standard in corporate governance of financial institutions. On 29th September 2020, the Financial Services Commission (FSC) […]
Mauritius as an International Telecommunication Union (ITU) Centre of Excellence for Cybersecurity in Africa 2020
Mauritius has launched the International Telecommunication Union (ITU) Centre of excellence for Cybersecurity in Africa at the turn of the millennium, with the aim to support capacity development in the field of information and communication technologies (ICTs) by offering continuous education to ICT professionals and executives in the public and private spheres through face-to-face, […]