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Several EU Member States have been warned of non-compliance with 5th Anti-Money Laundering Directive

The report on infringements of different EU acts committed by some Member States has been published on 14 May 2020 in the website of European Commission. Such infringements include non-compliance of national anti-money laundering and combating terrorist financing (AML/TF) legislation of several Member States with the requirements of the EU Directive 2018/843, which is applicable

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United Kingdom: tax residency and domicile of individuals

United Kingdom: tax residency and domicile of individuals

One of the main features of taxation of private individuals in the UK is the specific approach to determination of tax relationship of an individual with the state. The regime of taxation of incomes of individuals who are resident in the UK for tax purposes depends on whether such individuals are domiciled in the UK

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Requirements for SLPs to disclose their beneficial owners

Requirements for SLPs to disclose their beneficial owners

Since Scottish Partnerships (Register of People with Significant Control) Regulations 2017 have come into force on 26 June 2017, Scottish Limited Partnerships (SLP) are required to disclose their people with significant control (PSC). Information about PSC should be delivered to the Companies House within 14 days from 24 July 2017. A PSC is an individual

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PSC information of Scottish Limited Partnerships (LP) will become publicly available

PSC information of Scottish Limited Partnerships (LP) will become publicly available

1. The UK Companies House announced soon extension of information disclosure requirements in respect of “people with significant control” (in fact – beneficial owners) to Scottish Limited Partnerships (SLP). At the moment only companies and limited liability partnerships (LLP) are obliged to disclose information of “people with significant control”. Such information is available to general

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United Kingdom: tax as a condition of privacy

United Kingdom: tax as a condition of privacy

As reported by the British media, more than 200 high net worth foreigners have chosen an option of paying a special tax of GBP 218,200 in order to release themselves from declaring their ownership of luxury real estate in the UK. The title to such property is usually held by offshore companies belonging to such

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British authorities will discover beneficiaries in BVI and other jurisdictions

The Crown dependencies and overseas territories of the Great Britain have agreed to deliver information on company beneficial ownership to the UK competent bodies electronically within 24 hours, or within one hour in ‘urgent’ cases. These agreements have been achieved after months of negotiations. The leaders of the said territories promise the efficient cooperation with

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