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Industry Insight

3 Dec 2018

The Bipartisan Budget Act of 2015 changed the way the Internal Revenue Service ("IRS") deals with audits of partnerships and replaces the previous requirement to designate a "Tax Matters Partner." Under this regime, entities filing as a US partnership for tax purposes are required to name a US based "Partnership Representative" of the partnership to act as a liaison and handle matters before the IRS.

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1 Nov 2018

In light of the uncertainty Brexit and BEPS will present, the Maples group has conducted a brief survey of its global client base to understand the expected impact of Brexit and BEPS, including the challenges and resulting implications for business operations.

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30 Oct 2018

As year end approaches, it is time to start planning the liquidation of Cayman Islands entities that have reached the end of their life cycle, to ensure that unnecessary fees are avoided.

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19 Sep 2018

The CLOser is the Maples group's industry newsletter for the global CLO market. The Maples Global CLO Team provides Cayman Islands and Irish legal advice and CLO issuer / co-issuer and fiduciary services in the Cayman Islands, Delaware, Dublin, London and the Netherlands.

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24 Aug 2018

As part of the ongoing effort to strengthen its position as an international financial centre and to fulfil its international obligations as a member of the Financial Action Task Force, Hong Kong has implemented the Companies (Amendment) Ordinance 2018 and the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Ordinance 2018. Pursuant to the Companies (Amendment) Ordinance 2018, which came into effect on 1 March 2018, most companies incorporated in Hong Kong are now required to maintain a Significant Controllers Register containing up-to-date beneficial ownership information.

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