The beneficial ownership register leads to further transparency

Irrespective of the Automatic Exchange of Information (AEoI) and other OECD initiatives, the UBO register leads to further transparency. Beneficial owners of entities domiciled in the EU are already required to be documented in a UBO register, which is publicly accessible in some countries.
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OECD initiative against fictitious tax residences based on investments

On 16 October 2018, the OECD published the results of its analysis of over 100 Citizenship by Investment (CBI) and Residence by Investment (RBI) schemes that allow foreign individuals to obtain citizenship or residence rights.
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Federal Council opens the consultation on the implementing ordinances of the new FinSa and FinIa

On 24 October 2018, the Swiss Federal Council began the consultation for the 3 implementing ordinances to the Financial Services Act and the Financial Institutions Act. The consultation period will last until 6 February 2019; the ordinances and the two laws will enter into force on 1 January 2020.
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Geneva plans to massively lower its corporate tax rate

On 17 October 2018, the Geneva State Council presented its final cantonal project for the implementation of the Federal Act on Tax Reform and AVS Financing (TRAF). It introduces minor changes compared to the previous project and leads to a massive decrease of the corporate income tax rate to 13.79%.
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Money laundering: high risk countries also in Europe

The Financial Action Task Force is constantly updating its country risk assessment. Whilst the list of high-risk jurisdictions include the usual suspects, there is surprisingly one European country on the list, making this is another challenge to be tackled by financial intermediaries.
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20 key risks to consider by Internal Audit before 2020

A comprehensive risk-based Internal Audit plan determines the success of an IA function as a value-adding, strategic business partner. This summary of key risks aims to stimulate discussion during the annual planning process and identify potential emerging topics relevant to your IA function.
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