News from the Senay Group

 

New reporting requirements for simple and cross-border trusts in 2023. 

Do you own property for personal use outside the country (a property in Florida for example)? 

Have you set up a cross-border trust that holds your assets?  

If so, this article is for you.   

Under the new measures, for 2023 and subsequent taxation years, certain trusts, which did not have to do so in the past, will now be required to file annual tax returns and provide beneficial ownership information.  The deadline is 90 days following the end of the year.  

In order to ensure that your particular situation is taken into account, you should seek professional advice from your qualified tax advisor. 

Do not hesitate to contact us if you have any questions. 

 

Karine 

 

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