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21 Oct 2016
On 20 October 2016, the Irish Minister for Finance published the Finance Bill 2016. The Finance Bill includes proposed changes to section 110 of the Irish Taxes Consolidation Act, 1997 ("section 110"), the primary tax legislation governing the treatment of Irish securitisation and structured finance companies.
21 Oct 2016
On 20 October 2016, the Irish Minister for Finance published draft legislation amending the tax treatment of regulated Irish funds which invest in Irish property. The legislation imposes a 20% withholding tax on distributions and redemptions from Irish property funds.
13 Oct 2016
The Irish Minister for Finance presented Budget 2017 in the Irish Parliament on 11 October 2016. The domestic measures announced are generally cautious and modest, against a backdrop of a growing economy. On the international front, business will be glad to see the Minister recognise and address the challenges and opportunities presented by macro-economic issues like Brexit and a fast evolving international tax environment.
11 Oct 2016
Section 225 of the Irish Companies Act 2014 (the "Act") introduced a new requirement to include a directors' compliance statement ("DCS") in the directors' report that accompanies the annual financial statements of companies that meet certain criteria.
29 Sep 2016
A new Statement of Guidance was recently issued by the Cayman Islands Monetary Authority which sets out their minimum standards in relation to professional indemnity insurance coverage (i.e. for legal costs and claims by third parties for damages arising from acts, omissions or breaches of professional duty) to be maintained by Cayman Islands licensees when conducting regulated activities.