USERNAME: PASSWORD:
Tax-news.com favicon www.tax-news.com TAX-NEWS.COM
CONTACT | RECRUITMENT | ABOUT | LEGAL | LINKS     
   NETWORK SITES:
   LOWTAX   
   TAX-NEWS   
  PBTG  
  

Jurisdiction News Pages

Anguilla
Andorra
Aruba

Australia

Bahamas
Barbados
Belize
Bermuda
British Virgin Islands
Canada

Cayman Islands

Cook Islands
Costa Rica
Cyprus
Dubai
Gibraltar
Grenada
Guernsey
Hong Kong
Ireland
Isle of Man
Jersey
Labuan
Liechtenstein
Luxembourg
Madeira
Malta
Mauritius
Monaco
Netherlands Antilles
Panama
Seychelles

South Africa

St. Kitts & Nevis
St Vincent & The Grenadines
Switzerland
Turks & Caicos Islands

UK

USA

Vanuatu

Newsletter

To receive monthly updates on new features in lowtax.net and tax-news.com just enter your e-mail address below:



Daily Tax Quote

New On The Network Today

This feed is published daily with selected new or updated content from across our network. For a list of network sites, many of which feature daily news, see below.

 
29/07 New Lowtax Editor Column, by Kitty Miv
28/07 New PBTG Editor Column, Caroline, PBTG editor
27/07 UK Launches Raft Of Tax Consultations, Tax-News.com
26/07 Fat Tax On The Menu , Jeremy Hetherington-Gore blog entry
23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com
20/07 Singapore Base For Tuvalu OIFC, Tax-News.com
19/07 Expats Turn Backs On US Taxes, Tax-News.com
16/07 Congress Approves US Financial Reform Bill, Tax-News.com
15/07 New Lowtax Editor Column, by Kitty Miv
15/07 St Vincent & The Grenadines, Investors Offshore special feature
13/07 Tax-News.com Jersey Review 2010-2011
12/07 Goodbye To All That, Jeremy Hetherington-Gore blog entry
09/07 Antigua Pursuing Trade Sanctions Against US, Tax-News.com
08/07 New Lowtax Editor Column, by Kitty Miv
06/07 Hong Kong Full PBTG Guide, added to Personal Business Tax Guide
05/07 Australian Mining Tax Agreement Reached, Tax-News.com
02/07 Online Trading For Expats, Investors Offshore special feature
29/06 EC To Extend Common System Of VAT, Tax-News.com
28/06 Lowtax Dubai, annual update
25/06 Jersey Considers Tax Future, Tax-News.com
22/06 VAT Hiked In UK Emergency Budget, Tax-News.com
21/06 Steady Progress In TPP Negotiations, Tax-News.com
18/06 Singapore - Another Hong Kong?, Investors Offshore special feature
15/06 Swiss Parliament Approves UBS Agreement, Tax-News.com
14/06 Ethical Moonshine, Penelope Wise blog entry
11/06 Germany Purchases Stolen Tax Data Disc, Tax-News.com
08/06 Dubai Full PBTG Guide, added to Personal Business Tax Guide
07/06 G-20 Shelves Global Bank Tax, Tax-News.com
04/06 Lowtax Panama, annual update
01/06 Lowtax Luxembourg, annual update
31/05 OECD And EU Strengthen Tax Cooperation, Tax-News.com
28/05 Lowtax Guernsey, annual update
25/05 Lowtax Jersey, annual update
24/05 Lithuania Summary PBTG Guide, added to Personal Business Tax Guide
21/05 Lowtax Liechtenstein, annual update
18/05 Latvia Summary PBTG Guide, added to Personal Business Tax Guide
17/05 Offshore And The Euro, Jeremy Hetherington-Gore blog entry
14/05 IO Focus: Barbados, Investors Offshore special feature
03/03 Personal Business Tax Guide, PBTG, has launched!
Providing essential tax news and information for globally mobile artists, contractors, entrepreneurs, professionals, small businesses, sportspersons and entertainers.
 

 
Lowtax Network Sites
Lowtax Network Portal: 'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail.
Tax News: Global tax news, continuously updated through the day.
Investors Offshore: The independent offshore and alternative investment guide for expatriates and the globally aware investor. Sponsored by HSBC Bank International.
Law & Tax News: Daily news and background data on tax and legal developments for international business.
Offshore-e-com: A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library: One of the web's largest and most authoritative business and investment information sources.
US Tax Network: The resource for free online US taxation information, covering: corporate tax, individual tax, international tax, expatriates, sales and e-commerce tax, investment tax.
NEW! Personal Business Tax Guide: Providing essential tax news and information on business for contractors, entrepreneurs, professionals, small businesses, artists, sportspersons and entertainers.
 


Ryanair Cuts Stansted Routes Due To APD,
by Jason Gorringe, Tax-News.com, London

29 July 2009

On July 21, Ryanair announced that it would cut its capacity at Stansted Airport by 40% starting October 2009, reducing the number of aircraft operating from the airport from 40 currently to 24. Ryanair anticipates that it will see a 30% reduction in the number of weekly flights from Stansted, and a loss of 2.5m Stansted passengers during the period from October 2009 to March 2010.

In a statement, Ryanair underlined its reasons for the decision. It stated that BAA Stansted is one of its most expensive bases, and that BAA has refused to cut fees levied at the airport during the winter period. The move also pre-empts a potential drop in passengers and revenue from the increase in the government’s Air Passenger Duty (APD), which is to be increased to GBP11 (currently GBP10) in November, with further substantial increases to be introduced in 2010.

Ryanair’s statement notes that in recent months the Belgian, Dutch, Greek, and Spanish governments have retracted their tourist taxes and/or reduced airport charges to zero in order to stimulate tourism. Ryanair has announced that come November, the 16 aircraft removed from Stansted will be relocated to other European bases where the governments are in the process of, or have fully retracted, taxes on tourism.

APD was first introduced in the UK in 1994 but was subject to punitive revisions within the government’s November 2008 pre-Budget report. The new APD system comprises four bands depending on the distance travelled, and has been criticized for being unjust, in particular by imposing higher rates on Caribbean flights compared to those to America and other equidistant destinations. Currently flights within Europe are subject to a GBP10 duty, and those outside Europe up to GBP40 duty. These duties are due to rise to between GBP22 and GBP90 respectively from November 2010.

Caribbean countries and Ryanair’s rivals have backed the airline in its efforts to lobby against the tax. Virgin Atlantic’s Richard Branson spoke out online, stating that the APD is “one of the most unjust taxes out there”. He argued that there is not "a shred of evidence" to suggest that the environmental tax, which generates GBP2bn in revenues, will go towards environmental or sustainable projects. EasyJet, in a separate statement, argued that the tax is not an environmental tax as it is charged at a fixed rate, and recommends that the government should instead encourage the use of more environmentally friendly planes by imposing higher taxes on planes that pollute more. Carbon trading systems, as used in other industries, have also been advocated by British Airways, among others.

Urging the industry and its stakeholders to unite against the proposed increases on long-haul flights, the Association of British Travel Agents stated: “We have a number of common views and all feel very strongly about APD which will see a family of four paying GBP340 tax on a flight to Australia by next year. The tax must be reduced and if not, it will lead to job losses in the UK and have a severe impact on the economies of many developing nations.”

Ryanair’s cutbacks alone are likely to cost 2,500 UK jobs.

.


 


OCRA Aviation forms the Aircraft Services wing of OCRA Worldwide’s dedicated yacht and aircraft management division: Sea and Sky Solutions.

We provide a dedicated Isle of Man-based management and administration service to aircraft manufacturers, aircraft owners, aircraft operators and aircraft leasing companies looking to register their craft in the Isle of Man.

The OCRA Aviation team comprises company, trust, taxation and aviation specialists – offering clients solution-driven services that can be tailored to their specific requirements.

OCRA Aviation is based at the Group’s head office in the Isle of Man, where it is licensed by the Isle of Man Financial Supervision Commission (the “FSC”) as a Corporate and Trust Service Provider. The FSC is an independent statutory body responsible for the licensing and supervision of the private financial and commercial sector in the Isle of Man.

For further details of our services, or to view our online brochure and application forms, please visit our new website www.ocra-aviation.com.

Alternatively, please contact one of our team on + 44 (0)1624 818888 or e-mail us at
jets@ocra-aviation.com

THE LOWTAX LIBRARY

One of the web's largest and most authoritative business and investment information sources. Alongside topical, daily news on worldwide tax developments, you can receive weekly newswires or access up-to-date intelligence reports on a range of legal, tax and investment subjects.

FREE TRIAL NEWS SUBSCRIPTION

Our 16 constantly updated intelligence reports cover every important aspect of 'offshore' and international tax-planning in depth, including banking secrecy, the EU's savings tax directive, offshore funds, e-commerce, offshore gaming and transfer pricing. Reports are available for immediate downloading or as subscription services with news pages.

Advertising & Marketing

With over 50,000 qualified readers every month our web-sites offer a number of cost effective, targeted advertising, sponsorship and marketing opportunities:

Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings

Click here to learn more or contact Peter Wiggins on +44 (0)1424 813852 or email him at peter@lowtax.net

News & Content Solutions

Could your corporate web-site or newsletter benefit from incorporating regularly updated news and content tailored to serve your clients' interests? We can provide a variety of maintenance-free news and content solutions that can be seamlessly integrated and dynamically delivered:

Customised, personalised 'own-brand' news services
Newsletter content and management
News Headlines Tickers

Click here to learn more or contact Peter Wiggins on +44 (0)1424 813852 or email him at peter@lowtax.net

Free Tax-News Feed

Click here for a brief introduction to RSS and instructions on how to get the tax-news feed.

IMPORTANT NOTICE: THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact us for further information.