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CARIFORUM EPA With EU Is Finally To Be Signed,
by Ulrika Lomas, Tax-News.com, Brussels
Last updated 7 hours ago | Monday, October 13, 2008
Wednesday will see the signing in Barbados of the Economic Partnership Agreement
between CARIFORUM and the European Union, which has been in the making since
2004 under the terms of the Cotonau Agreement. [
FULL
STORY ]
Tax Increases Likely In Ireland's 'Harshest' Budget,
by Amanda Banks, Tax-News.com, London
Last updated 7 hours ago | Monday, October 13, 2008
Irish citizens are bracing themselves for bad news in Finance Minister Brian Lenihan's maiden budget announcement, which is likely to include a number of tax increases in order to fill a gaping hole in the government's finances.
[
FULL
STORY ]
France's Financial Aid To Benefit More SMEs,
by Ulrika Lomas, Tax-News.com, Brussels
Last updated 7 hours ago | Monday, October 13, 2008
Hervé Novelli, the French secretary of state responsible for small and
medium sized enterprises, has enlarged the number of small businesses due
to qualify for the EUR9bn loan package, to be financed by the livret d’épargne
populaire or LEP.
[
FULL
STORY ]
World Bank Hails The Americas' Free Trade Initiative,
by Mike Godfrey, Tax-News.com, Washington
Last updated 13 hours ago | Monday, October 13, 2008
The World Bank and Inter-American Development Bank (IDB) has welcomed an initiative launched by 12 countries in the Americas to promote free trade in the Western Hemisphere.
[
FULL
STORY ]
New Zealand Stock Exchange Calls For Corporate Tax Deferment,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 13 hours ago | Monday, October 13, 2008
A new report by the New Zealand Stock Exchange and the New Zealand Institute has urged the government to defer the payment by companies of provisional corporate tax and provide more generous capital allowances in a bid to counter the negative effects of the global credit crunch.
[
FULL
STORY ]
UAE Takes Steps To Protect Banking System,
by Lorys Charalambous, Tax-News.com, Cyprus
Last updated 7 hours ago | Monday, October 13, 2008
Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre, has welcomed measures approved by the cabinet of Sheikh Mohammed bin Rashid AI Maktoum, ruler of the United Arab Emirates, to strengthen the UAE's banking system in the face of the global credit crisis.
[
FULL
STORY ]
Australia Mulling Stimulus Measures,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 7 hours ago | Monday, October 13, 2008
Australian Finance Minister Lindsay Tanner has said that the government is considering what measures it could take to avert a potential recession in the domestic economy, including through the tax system, although Prime Minister Kevin Rudd (pictured) has dismissed the idea of bringing forward tax cuts planned for next year.
[
FULL
STORY ]
Mauritius Expands Financial Services Industry,
by Lorys Charalambous, Tax-News.com, Cyprus
Last updated 7 hours ago | Monday, October 13, 2008
The Financial Services Commission of Mauritius has announced that new rules opening up the jurisdiction's financial services industry to four new types of business have been published in the government gazette.
[
FULL
STORY ]
Vietnam And Australia Explore New Bilateral Agreements,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 6 hours ago | Monday, October 13, 2008
Vietnamese Prime Minister, Nguyen Tan Dung (pictured) has met with his Australian counterpart Kevin Rudd this week in order to discuss ways of speeding up negotiations surrounding trade, investment, and technology cooperation.
[
FULL
STORY ]
IOSCO Proposes More Regulation Of Funds Of Hedge Funds,
by Phillip Morton, Investors Offshore.com
Last updated 7 hours ago | Monday, October 13, 2008
The International Organization of Securities Commissions has published, for public consultation, proposals for a new system of regulatory standards aimed at funds of hedge funds managers, to address issues of investor protection in light of the increased involvement of retail investors in these investment vehicles.
[
FULL
STORY ]
Head Of Tax In Philippines Quits As Tax Revenues Miss Target,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 7 hours ago | Monday, October 13, 2008
Lilian Hefti, the commissioner of the Bureau of Internal Revenue in the Philippines has announced her resignation this month, citing an on-going problem with her health as the main reason.
[
FULL
STORY ]
Ex-Samsung Boss Won't Be Imprisoned For Tax Evasion, Despite Guilty Verdict,
by Mary Swire, Tax-News.com, Hong Kong
Last updated 13 hours ago | Monday, October 13, 2008
The ex-Samsung boss found guilty of tax evasion in July has been spared a prison sentence this week after a breach of trust charge filed against him was dropped at the last minute.
[
FULL
STORY ]
France And Nigeria Sign MoU On Energy,
by Ulrika Lomas, for LawAndTax-News.com, Brussels
Last updated 13 hours ago | Monday, October 13, 2008
It was announced last week that France and Nigeria have entered into a bilateral agreement designed to encourage growth in Nigeria's power sector.
[
FULL
STORY ]
IMO Environment Meeting Finalizes Ship Recycling Convention,
by Phillip Morton, Investors Offshore.com
Last updated 7 hours ago | Monday, October 13, 2008
The Marine Environment Protection Committee of the International Maritime Organization announced on October 10 that it has approved, without reservations, the text of the draft ship recycling convention for adoption at a conference in 2009, when it met for its 58th session at IMO's London headquarters.
[
FULL
STORY ]
US Remains World's Most Competitive Economy,
By Ulrika Lomas, Tax-News.com, Brussels
Last updated 19 hours ago | Monday, October 13, 2008
Despite growing concerns over its uncompetitive corporate tax rate, the United States remains the most competitive economy in the world, just ahead of Switzerland and Denmark, according to the World Economic Forum, which seeks to promote global entrepreneurialism.
[
FULL
STORY ]
Germany's Inheritance Tax Reforms Under Threat,
by Ulrika Lomas, Tax-News.com, Brussels
Last updated 19 hours ago | Monday, October 13, 2008
Government ministers face mounting pressure as the deadline for agreeing radical
reforms of the German inheritance tax law looms ever nearer.
[
FULL
STORY ]
Iran Suspends Sales Tax Amid Merchants' Strike,
by Lorys Charalambous, Tax-News.com, Cyprus
Last updated 19 hours ago | Monday, October 13, 2008
Iran has been forced to postpone the introduction of an unpopular sales tax after merchants protested against the measure by refusing to open their shops.
[
FULL
STORY ]
Paris Prepares For Local Tax Increases,
by Ulrika Lomas, Tax-News.com, Brussels
Friday, October 10, 2008
Presenting the 2009 budgetary guidelines for Paris, a finance official at the
town hall, Bernard Gaudillère revealed plans to increase local taxes in
Paris by 9% from next year.
[
FULL
STORY ]
New York DA Gets A Pasting,
by Mike Godfrey, Tax-News.com, New York
Friday, October 10, 2008
Robert Morgenthau, District Attorney for Manhattan in New York City, (pictured) recently
penned a vitriolic attack on offshore jurisdictions and the Cayman Islands in
particular for the Wall Street Journal. Dan Mitchell of The Centre for Freedom
and Prosperity has taken his own hatchet to Morgenthau's piece.
[
FULL
STORY ]
Hedge Fund Waggons Form A Circle,
by Carla Johnson, InvestorsOffshore.com, London
Friday, October 10, 2008
The hedge fund industry has launched the Hedge Fund Matrix - a project which
brings together some of the world’s leading hedge fund and financial markets
bodies - to launch a user-friendly website that offers the first step towards
harmonisation between existing sound practice guidelines.
[
FULL
STORY ]
Hong Kong Signs Trade Deal With France,
by Mary Swire, Tax-News.com, Hong Kong
Friday, October 10, 2008
Hong Kong has this week signed a Memorandum of Understanding (MoU) on cooperation in Wine-Related Businesses with Bordeaux, making it the city's first official pact with a wine-growing region.
[
FULL
STORY ]
Irish Farmers Association Calls For Tax Breaks On Renewable Energy,
by Amanda Banks, Tax-News.com, London
Friday, October 10, 2008
The Irish Farmers Association has this week asked the government to consider allowing them a three-year tax break in order to allow them to increase renewable energy production by installing around 6,000 wind turbines throughout the country.
[
FULL
STORY ]
Guernsey Legislators Meet Bankers On Depositors Protection Scheme,
by Phillip Morton, Investors Offshore.com
Friday, October 10, 2008
Guernsey's Treasury and Resources Minister Deputy, Charles Parkinson, has chaired the first meeting of the technical group formed by the Policy Council to progress the development of a Depositors’ Protection Scheme for the island.
[
FULL
STORY ]
Cayman Islands Braced For Hedge Fund Losses,
by Phillip Morton, Investors Offshore.com
Friday, October 10, 2008
Kurt Tibbetts, the Cayman Islands' Leader of Government Business, has warned that the jurisdiction is unlikely to escape the fall-out from the financial crisis in the United States, especially since the vast majority of the world's hedge funds - many of which are heavily exposed to the debt instruments at the heart of the meltdown - have registered there.
[
FULL
STORY ]
DIFC Courts Announce Key Appointments,
by Lorys Charalambous, for LawAndTax-New.com, Cyprus
Friday, October 10, 2008
The Dubai International Financial Centre Judicial Authority has announced two senior appointments designed to bolster the senior team of the new institution, which is now fully equipped to handle all civil and commercial disputes relating to its jurisdiction.
[
FULL
STORY ]
Guernsey's Tax System To Be Assessed By OECD,
by Philip Morton, Investors Offshore.com
Friday, October 10, 2008
A senior official of the OECD (Organisation for Economic Co-operation and Development) is to visit Guernsey in order to brief industry on the way in which the organisation is planning to assess jurisdictions for tax purposes, it was revealed on Friday.
[
FULL
STORY ]
French Assembly Agrees Tax On Investment Revenue,
by Ulrika Lomas, Tax-News.com, Brussels
Friday, October 10, 2008
Ratified during a first reading before the French National Assembly of a new welfare reform bill, le revenue de solidarité or RSA, effectively a negative income tax, is to be financed by a controversial
increase in tax on investment revenue.
[
FULL
STORY ]
Guernsey Tells Its Funds Story,
by Carla Johnson, InvestorsOffshore.com, London
Friday, October 10, 2008
With the total value of funds under management and administration in Guernsey
reaching a new record high of GBP207bn at the end of June 2008 (up 33% year
on year), this year's Guernsey Funds Forum, which took place this week at the
Queen Elizabeth II Conference and Exhibition Centre, Westminster, London. had
a celebratory air.
[
FULL
STORY ]
Expat Study Reveals Best Locations To Raise Children,
by Phillip Morton, Investors Offshore.com
Friday, October 10, 2008
HSBC Bank International today revealed that Spain, France and Germany are perceived to be the best locations for expats to raise their children, according to the findings of the second report of three in the Expat Explorer survey, Offshore Offspring.
[
FULL
STORY ]
ECOFIN Agrees To Eurofisc,
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, October 09, 2008
Apart from setting out an EU-wide scheme to increase depositor protection
across the Union, this week's ECOFIN meeting in Luxembourg approved proposed
guidelines for an EU-wide system to combat VAT fraud, to be called Eurofisc.
[
FULL
STORY ]
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