Despite the impact of the European debt crisis, the global economic downturn and political turmoil in certain parts of the region, the Dubai International Financial Centre continues to strengthen its position as the leading international financial centre in the region. Read Full Story
Switzerland’s Finance Minister Eveline Widmer-Schlumpf has recently put forward the idea of compelling Swiss banks to obtain in future a declaration from their foreign clients confirming that their assets held in the Confederation are correctly taxed. Read Full Story
The Eurogroup has issued a statement welcoming the agreement reached with the Greek government on a policy package constituting the basis for the EUR130bn (USD172bn) bailout programme, which is conditional on Greece finding another EUR325m in budget savings. Read Full Story
Tax inspectors from the Italian Revenue Agency have again taken to making spot checks, this time at Courmayeur, to check whether its shops, restaurants and bars, even those on the ski slopes of Mont Blanc, are issuing the necessary tax receipts. Read Full Story
Proposed US regulations will impact on UK insurers in spite of hopes that they might have been excluded from the Foreign Account Tax Compliance Act regime. Read Full Story
Christina Liu, the new Minister of Finance, has confirmed that a task force will be convened towards the end of next month by Taiwan’s Premier Sean Chen, to help examine and propose tax reform policies. Read Full Story
The Australian government has released for consultation an exposure draft on proposed legislation that would revamp the nation's maritime tax policy to strengthen the industry's international competitiveness. Read Full Story
A coalition of several leading non-profit and commercial organizations, including the US Chamber of Commerce, has released a report warning against the introduction of the International Accounting Standard and the Financial Accounting Standard Boards' proposed lease accounting standard, noting the significant detrimental impact it would have on the United States' economy. Read Full Story
The UK government has approved the participation of four new lenders in its Enterprise Finance Guarantee, which provides help to small and medium-sized enterprises. Read Full Story
The UK has announced its support for the Financial Action Task Force's new standards to combat money laundering and terrorist financing. Read Full Story
The Belgian tax authorities have recently announced that they are now closely monitoring Internet sales websites, including eBay, in a bid to clamp down on Internet traders failing to meet their tax obligations. Read Full Story
The German finance ministry has fiercely criticized Health Minister Daniel Bahr’s bill on care reform in Germany, insisting that the proposed contribution increase will not serve to fully finance the reform. Read Full Story
The Canadian government has highlighted a new tax credit that, according to the minister in charge, will help Canadian families encourage children's artistic development. Read Full Story
New draft planning guidance is being considered by the Jersey government, which, if approved, will provide greater protection for businesses with premises and land holdings on the island. Read Full Story
Following over twelve hours of intense negotiations, eurozone finance ministers gathered in Brussels finally agreed to a second EUR130bn (USD170bn) rescue package for Greece, to enable the country to avoid bankruptcy and to secure its future in the eurozone. Read Full Story
Austria’s Finance Minister Maria Fekter has recently announced that talks on a planned bilateral tax agreement with Switzerland are due to begin in April. Read Full Story
Switzerland’s Federal Council has announced that it does not intend to introduce tax incentives to promote the traditional family model of parents staying at home to look after their children. Read Full Story
The Finance Secretary Cesar Purisima has disclosed that the Department of Finance is looking at how tax revenues can be increased, within the government’s review of its mining sector policies in the Philippines. Read Full Story
French Finance Minister François Baroin has welcomed the adoption of the new Financial Action Task Force anti-money laundering standards following a lengthy process undertaken in close consultation with the private sector and civil society. Read Full Story
Vale SA, the world's second largest mining company, has said the company is confident of victory in the ongoing back taxes case with the Brazilian tax authority. Read Full Story
850,000 UK taxpayers will feel the force of HM Revenue and Customs's new penalty regime in the coming weeks, as the first penalties are issued. Read Full Story
British Columbia will cease to operate a Harmonised Sales Tax system on April 1, 2013 after transitional proposals were released and relief measures outlined. Read Full Story
United States accounting standards governing financial reporting for business combinations, 'operating segments', and deposit and investment disclosures will be the next subjects of post-implementation reviews conducted by the Financial Accounting Foundation, the agency has announced. Read Full Story
The Shanghai government-owned Shanghai International Group has led a group of official and private investors to establish a substantial renminbi-denominated fund that targets the financing of Chinese corporate investment overseas. Read Full Story
Dubai-based Etihad Airways has plans to increase the fuel surcharge on flights to Europe in an attempt to minimise the damage caused by the EU's new carbon tax. Read Full Story
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