News
PANAMA: Opening The Door for The Use of Cryptocurrency
On Apr. 28th, 2022, Panama’s National Assembly passed its latest legislative Bill No. 697 to regulate the movements of digital assets within the country.
The Bahamas’ next goal is to comply with all 40 FATF recommendations
The Bahamas’ enhanced efforts to follow the FATF Recommendations. Currently, the Bahamas has been compliant or largely compliant among 38 out of the 40 FATF Recommendations.
European Council Reviews List of Non-cooperative Countries for Tax Purposes
The updated list of non-cooperative jurisdictions On 24th Feb 2022, the EU Council published the revised list of non-cooperative jurisdictions for tax purposes. According to Annex I, the so-called ‘blacklist’ remained unchanged, which include 9 jurisdictions: American Samoa Fiji Guam Palau Panama Samoa Trinidad and Tobago US Virgin Islands Vanuatu Further commitments by cooperative jurisdictions…
Changes to Accounting Records Requirements in Panama
In accordance with Law No. 52 of 2016, all legal entities that operate outside the Republic of Panama and those that exclusively operate as asset holders, inside or outside of Panama territory are required to maintain accounting records along with supporting documentation for at least 5 years. *Legal entities refer to corporations, limited liability companies,…
Belize Extends the Economic Substance Filing Deadline
On 28th Jan 2022, the Financial Services Authority of Belize issued a Public Notice announcing the extended timeline for economic substance form submission from 31st Jan 2022 to 1st April 2022. *We advise that all qualifying entities respect this new deadline as the Commission has confirmed that there will be no further extensions. The change…
EU Officially Removes Anguilla, Seychelles and Dominica from Its Tax Blacklist
Anguilla, Seychelles, and Dominica are all nearing a full-release scenario from the EU’s list of non-cooperative in the latest delisting announcements.
New Global Minimum Tax Proposal: What To Expect
Find out how the new global minimum tax proposal agreed by the G20 will impact the world economy and the way large international corporations are taxed.
Updates on Seychelles Accounting Records Keeping Obligations
Effective from 2022, all Seychelles IBCs are required to retain their accounting records at their registered address in the Seychelles. Learn more about this update!
Belize Annual Tax Return & How To File
Learn more about some of the latest essential information about annual tax returns for IBCs operating in Belize and how to correctly file them with BBCIncorp.
St. Kitts and Nevis CIT 101 Form: New Filing Requirement For Non-Resident Companies
CIT 101 is a simplified tax return (STR) for corporate income tax filing in St. Kitts and Nevis. The form is applied to all Nevis IBCs and LLCs under the law regardless of their tax residency status.
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