FinTech

Our lawyers advise clients ranging from global financial institutions leveraging cutting-edge technology, to start-ups changing the status quo with innovative products and services.

Read More

Walkers Launches Compliance Services Offering

Walkers Compliance complements Walkers' legal, corporate and fiduciary services to deliver a one-stop-shop for clients looking to use the Cayman Islands jurisdiction for their business needs.

Read More

Brexit

Following the result in the United Kingdom's EU referendum, Walkers has created a Brexit page dedicated to providing our clients relevant information about the jurisdictions in which we practise.

Read More

Walkers is a leading international law firm. We advise on the laws of Bermuda*, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey.
GlobalMap Oct2018
Promotions 2018

Walkers' Promotions Highlight Growth of Global Firm

We are pleased to announce that 8 attorneys across our 10 global offices have been invited to join the partnership. In addition, 18 associates have been promoted to senior counsel, or local equivalent.

More Information

Browse Professionals
by last name

  • A
  • B
  • C
  • D
  • E
  • F
  • G
  • H
  • I
  • J
  • K
  • L
  • M
  • N
  • O
  • P
  • Q
  • R
  • S
  • T
  • U
  • V
  • W
  • X
  • Y
  • Z

Find a Professional
Search by one or more criteria


BVI Updates in Respect of the Common Reporting Standard

An amendment to the existing BVI CRS legislation has been published which introduces new requirements to the existing CRS regime. The amendment is in the form of the Mutual Legal Assistance (Tax Matters) (Amendment) Act, 2018 (“Amendment”), which was published on 4 October 2018.

The CRS regime has been in force in the BVI since 1 January 2016. The Amendment requires all British Virgin Islands Financial Institutions to take additional steps to remain compliant with the CRS regime. This Advisory provides a high-level summary of the key new requirements.

Extended Registration Requirements
The one-off registration requirement which previously only applied to Virgin Islands Reporting Financial Institutions has now been expanded to include all Virgin Islands Financial Institutions, regardless of whether Reporting or Non-Reporting. The annual registration deadline is 30 April. Therefore, all Virgin Islands Financial Institutions must register via the BVI Financial Account Reporting System (“BVIFARS”) by 30 April 2019 if they have not already done so.

 

Click to view advisory

BVI BEPS Country-by-Country Reporting

The Government of the BVI has begun implementing the requirements from the “Transfer Pricing Documentation and Country-by-Country Reporting, Action 13 – 2015 Final Report” (the “Report”), published by the Organisation for Economic Co-operation and Development (“OECD”).

Publication of legislative amendments
The BVI is a member of the OECD’s Inclusive Framework on Base Erosion and Profit Shifting (“BEPS”), which brings together over 100 jurisdictions to collaborate on the implementation of the OECD BEPS Package. All OECD and G20 countries have committed to implementing Country-by-Country Reporting (“CbCR”).

On 4 October 2018, the Mutual Legal Assistance (Tax Matters) (Amendment) Act, 2018 (the “2018 Amendment”) was published in the BVI Official Gazette. The 2018 Amendment introduces the new requirements of CbCR to the BVI as required by the Report. The BVI International Tax Authority (“ITA”) is the relevant competent authority.

 

Click to view advisory

Ireland Companies (Statutory Audits) Act 2018

The Companies (Statutory Audits) Act 2018 (the “2018 Act”) has been signed into law. The 2018 Act amends certain provisions of the Companies Act 2014 (the “2014 Act”). Key points to note are:

  • it will now be permissible for a company to file its annual return and financial statements in one step within 56 days of the annual-return date;
  • any company filing its annual return late will lose its entitlement to an audit exemption in the following two financial years and not the financial year to which the annual return relates; and
  • the Irish Auditing and Accounting Supervisory Authority (the “IAASA”) has been given extra supervisory powers in respect of statutory audits.

 

The objective of the 2018 Act is to further transpose the current EU statutory-audit regime into Irish law in order to provide a single legal framework for statutory audits in Ireland.

Click to view advisory

Central Bank Streamlines Procedures for Irish Retail Funds

By way of correspondence dated 9 October 2018 to Irish Funds, the trade body representing funds established in Ireland, the Central Bank of Ireland (the “Central Bank”) notified industry of a series of amendments to its procedures for Irish UCITS and Retail Investor Alternative Investment Funds (“RIAIFs”).

The welcome procedural amendments, introduced with immediate effect, focus on expediting the processing of certain authorisation and post-authorisation amendments for UCITS and RIAIFs through the introduction of a same-day approval process for those applications. Download the full advisory to see the same day approval process.

 

Click to view full advisory

Ireland - Budget 2019 In Brief

Budget 2019, announced on 9 October 2018, is aimed at delivering a balanced budget which will build strength and resilience for the future, with significant investment in housing, Brexit preparation, the health service, education, incentives for SMEs and a Rainy Day Fund to deal with larger economic shocks. Tax measures are limited. Revenue raising measures include the expected increase in the VAT rate on tourism and hospitality activities as well as increases in excise duty on tobacco, betting duty and a diesel surcharge. Tax cuts include modest reductions in Universal Social Charge (USC) and income tax, a small increase in the Group A tax free threshold for Capital Acquisitions Tax (CAT) as well as certain extensions to existing SME, film, VRT and agricultural reliefs.

 

Click to view advisory

More Articles ...