On 19 October 2015, Canada witnessed one of the largest reversals in political fortunes in recent electoral history when the Liberal Party, led by a youthful Justin Trudeau, bounced back from a dismal performance in the 2011 election to end the Prime Minister Stephen Harper's decade-long stint in power in emphatic fashion.Read More
Pearse Trust Blog
The Fourth EU Money Laundering Directive ("AMLD4") came into force on 26 June 2015. It replaces the Third EU Money Laundering Directive and its purpose is to strengthen and improve existing anti-money laundering and counter-terrorist financing laws. It will also ensure consistency in the application of such laws across all EU Member States.
The deadline for transposition of AMLD4 into national law is 26 June 2017.Read More
On 16 September 2015, the Federal Court of Canada denied a request for an injunction to prevent the collection and disclosure of Foreign Account Tax Compliance Act (FATCA) information to the United States regarding American citizens living in Canada.
In an opinion issued on 9 September 2015, the US Court of Appeals for the Second Circuit confirmed that the "economic substance doctrine" may apply to transactions involving foreign tax credits.Read More
The UK continues to work on improving its 'UK For Business' reputation, as it strives to be one of the most trusted jurisdictions in, and with, which to do business. Most recently in these efforts, and as a result of the Small Business Enterprise and Employment Act 2015 (‘SBEE Act’), the Companies and Limited Liability Partnerships (Filing Requirements) Regulations 2015 (‘the Regulations’) were published on 18 September 2015. These regulations state that there have been a number of consequential changes to the Companies Act 2006 (‘CA 2006’) for entities such as limited liability partnerships, Societas Europaea and unregistered companies.
There are several types of trusts and also several ways to settle them. Trusts can be settled verbally or in writing. In this blog post, we will examine two methods of settling a trust in writing.
Following State aid approval from the European Commission, the United Kingdom has this year enhanced its tax incentive scheme for investments in film and television productions located in the UK.
In this blog post, our third in a series on UK Limited Companies, we focus on the accounting requirements.
Negotiations on the Trans-Pacific Partnership have concluded between the 12 participating Asia-Pacific countries, as announced in Atlanta on 5 October 2015.
The agreement will bring big changes to global trade and will deepen economic ties between the Pacific-rim countries of New Zealand, Mexico, United States, Canada, Singapore, Australia, Brunei Darussalam, Chile, Japan, Malaysia, Peru and Vietnam.Read More
A discussion draft has been released on legislation to create a European-style "innovation box" regime in the United States, to encourage domestic investment in research and development (R&D).