India and Hong Kong have signed a tax agreement to avoid double taxation and tax evasion. The agreement is expected to stimulate the flow of investment, technology and personnel from India to the Hong Kong Special Administrative Region and vice versa, prevent double taxation, and provide for the exchange of information between the two contracting parties.

The Belgian Council of Ministers recently amended their country’s legal structures for trusts and companies from countries considered tax havens to bypass withholding tax. They have reclassified the trust income payments as deemed dividend distributions, which subjects these firms to a 30% withholding tax. Similarly, Taiwanese and French tax authorities both recently bolstered documentation requirements in this regard.

Digital-world consumers expect banks to securely step up their technology game

elawrobel

Traditional banks must evaluate their place within the payments ecosystem and be open to partnering with FinTechs and third-party developers to drive value collaboratively.

Collaborative Payments Ecosystem Boosts Customer Centricity

elawrobel

Structural changes are spurring payments industry participants to evaluate the future of the business as well as their role in the months and years ahead.

New payments ecosystem key enablers

elawrobel

The Payment Services Directive 2 or PSD2 has been in full force for more than six months, and its impact is being felt not just in the European Union, but across the globe – with several markets, such as Singapore, Australia, and Nigeria, as well as Hong Kong announcing open banking initiatives inspired by the PSD2

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