Tax Directives Assist Investment Flow to Asia
Changes to Channel Islands and Isle of Man banking laws will come into effect later this year. From July 1 both jurisdictions will implement the European Union Savings Tax directive, which requires EU member states to exchange information regarding customers who have savings in one jurisdiction but live in another.
The significance of this announcement is the reflection of two growing trends in banking: the trend of cross-border information sharing, and the global trails of assets flowing
