Japan’s government has changed its tax code in a bid to encourage foreign capital to be invested in the nation’s economy. Ministers have reformed the tax rules relating to offshore asset managers and hedge funds by dropping their obligation to be classified as having a ‘permanent establishment’ in the country. Effectively, this means that the firms are currently being taxed twice, both domestically and in Japan, for investing in the economy – a requirement which has now been swept away. The move has been designed primarily to stimulate growth at a time in which the nation is facing a declining population and the ongoing effects of the credit crunch. A spokesman at Japan’s Financial Services Agency said: “We must admit that Tokyo’s presence in international finance has been in decline for some years.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more