Daily Archives: 20 Marzo 2017

G20 finance ministers agree to maintain tax agenda

Finance Ministers and Central Bank Governors of the world’s 20 largest economies (G20) said they remained committed to a timely, consistent and widespread implementation of the Base Erosion and Profit Shifting (BEPS) package at their meeting in Baden-Baden, Germany. In the official communiqué, they said they welcomed the growing membership of the Inclusive Framework on…

UK Supreme Court reduces daughter’s reasonable provision award

The UK Supreme Court reaffirmed the general principle of testamentary freedom in unanimously setting aside a Court of Appeal decision to award an estranged daughter about a third of her late mother’s £486,000 estate, which had all been explicitly left to three animal charities. In Ilott v The Blue Cross and others 2017 UKSC 17,…

UBS rejects settlement with French authorities

UBS is set to stand trial in France for allegedly assisting clients to evade taxes in France after negotiations between the Swiss bank group and the French prosecutor broke down over the size of the proposed €1.1 billion fine. No date has been set for the trial. UBS is accused of illicitly soliciting clients on…

French court rules uncapped trust reporting penalties unconstitutional

The Conseil Constitutionnel ruled that the uncapped 12.5% (5% prior to 8 December 2013) penalty on trust assets provided for under Article 1736 IV bis of the French tax code for each failure to comply with trust reporting obligations was disproportionate and therefore unconstitutional. The decision takes effect as of the date of publication, which…