News

New Laws to Enhance Labuan's Credentials as Financial Services Centre: 2010-02-25; New laws which, it is hoped, will substantially improve Labuan’s competitive edge in international financial markets came into effect this month.

Purchase of Bank Data Disc Divides German States: 2010-02-10; The heated debate in Germany regarding the purchase of bank data discs has intensified, as Baden-Württemberg and Bayern have become the next federal states to be offered separate information on alleged tax evaders.

The OECD’s Committee on Fiscal Affairs released a report: 2010-02-08; On 5 February 2010, the OECD’s Committee on Fiscal Affairs released a report focusing on VAT/GST relief for foreign businesses.

Swiss Finance Directors Propose Reform of Flat Rate: 2010-02-05; Eager to maintain the special flat rate tax privilege (Pauschalbesteuerung) accorded to wealthy foreigners, Switzerland’s cantonal Finance Directors have announced that the existing system of taxation is to be reformed, and that the conditions determining the application of the tax are to be toughened.

Italian Revenue Agency Confirms Details of Tax Amnesty Extension: 2010-02-03; Italy’s Revenue Agency has issued a circular that confirms the terms of the extension to end-April 2010 of the Italian tax amnesty for undeclared funds held abroad.

IoM Govt Restructure: 2010-02-02; The Isle of Man Chief Minister, Tony Brown, has announced proposals for a major restructuring of government departments with a focus on growing the economy to generate new income for the island.

Rate changes in effect 1 January 2010: 2010-01-22; Rate changes in effect 1 January 2010

UK's Wealthy Head For Sunnier Climes As Tax Storm Brews: 2009-12-17; New research would appear to confirm that, while not quite the "exodus" popularly characterized in the press, there is nevertheless a steady stream of wealthy financiers, entrepreneurs and bankers leaving Britain as a result of the Labour government's recent tax increases, namely the 50% tax rate, increases in National Insurance contribution rates, and latterly, the bankers' bonus tax.

Lower Your Taxes with International Tax Planning: 2009-12-16; International tax planning means development of the most fair tax regime for the taxpayer. Globalization brought new opportunities for both resident and non-resident individuals and legal entities. Based on our practical experience the following are useful tips for those who want to save on taxes.

Jersey Finance Welcomes Delay On Tax Reform: 2009-12-15; Jersey Finance has welcomed the strong support given to the jurisdiction's finance industry by Treasury & Resources Minister, Senator Philip Ozouf, in his budget speech and his confirmation that it will take the time to examine all the options before deciding on any changes to the current business taxation regime.

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