In the European Union (EU), mandatory disclosure requirements (the DAC6 rules) now apply to certain types of cross-border transaction that have taxation consequences.
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IMPACT ANALYSIS: Final stage of roadmap for enhancing cross-border payments, challenges addressed
The Financial Stability Board (FSB) has published the third and final stage of the roadmap designed to enhance cross-border payments and reverse the decline in correspondent banking.
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WEBINAR: Beyond the FinCEN files: Building a better framework for financial intelligence
Beyond the FinCEN files: Building a better framework for financial intelligence. Hear from global experts on the future agenda for AML/CTF compliance.
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ASIC Chair stands aside pending review into relocation expenses
ASIC Chair, James Shipton, has stood aside pending a review into relocation expenses, including for income tax advice paid for by ASIC.
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FinCEN leaks mark inflection point for international AML regime, says former DEA agent
The leak of the FinCEN Files has highlighted the ineffectiveness of the international anti-money laundering (AML) regime in terms of securing law enforcement outcomes and should trigger a fundamental review, a former senior U.S. law enforcement supervisory special agent has said
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Statutory Financial Reporting in Shared Services: Best Practices from Capgemini to Centralise, Standardise and Automate the Process
“In today’s world, zero non-compliance is the norm,” warns Vishal Parekh, Regional Head, South Asia and South-East Asia at Thomson Reuters. “No one wants to be in that bucket of…
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Crown Resorts in AML crosshairs as AUSTRAC’s enforcement team eyes next target
Australia’s largest casino operator is facing enforcement action from the Australian Transaction Reports and Analysis Centre (AUSTRAC) following a 12-month review of its compliance controls that began in September 2019.
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Afterpay escapes enforcement action over millions of ‘technical’ AML breaches
Australian fintech giant Afterpay has escaped formal enforcement action over millions of “technical” breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
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New corporate residency test: Board of Taxation releases report
The Board of Taxation released its report Review of Corporate Tax Residency on 6 October 2020. The report was completed in July 2020.
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Budget: Super trustees – new best “financial” interests duty
The Government has announced that it will legislate to compel trustees of APRA-regulated superannuation funds to act in the best “financial” interests of their members.
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