06 August 2018

The Finance (Miscellaneous Provisions) Act 2018: Changes to the global business sector

AXIS in association with BLC Robert is pleased to share with you the salient features of legislative amendments touching the global business sector which have been introduced by the Finance (Miscellaneous Provisions) Act (the “Finance Act”) passed by the  National Assembly on 31 July 2018.

The Finance Act gives effect to the measures announced in Budget Speech 2018-2019 to revamp and further modernise the global business sector. In this document, in Part I, we address 5 main aspects of the legislative developments: (A) Changes to the existing regulatory regimes, (B) New obligations for structuring vehicles (C) Changes to the existing tax regime, (D) Changes to the banking and finance legal regime, and (E) AML/CFT compliance. In Part II, we address other legislative amendments which are relevant to the activities within the global business sector.

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