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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. |
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| 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 |
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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 |
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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! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| 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. |
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Triple Boost For Jersey's Funds Sector,
by Carla Johnson, Investors Offshore, London 01 February 2007
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Jersey’s funds industry has already received an early New Year boost
as a result of three developments announced this month. These measures are the
recognition by the Dutch Financial Markets Authority, the eagerly awaited introduction
of the Listed Fund Guide and a change to Jersey’s Income Tax Law.
The decision by the Dutch Financial Markets Authority (AFM) to add Jersey to
the short list of jurisdictions whose regulation is considered sufficient to
allow a light touch by the Dutch regulator enables Jersey funds to be listed
on the Euronext exchange without the need for a licence in the Netherlands.
The first such fund listed was Yatra Capital Limited, an Indian property fund.
Yatra, which aims to create value for investors through the ownership, development
and operation of high-quality property on Indian commercial and retail markets,
raised GBP100 million through a placement. Jersey legal adviser to the fund
was Carey Olsen.
The second development was the introduction of the Listed Fund Guide by the
Jersey Financial Services Commission on 8th January 2007 following final consultation
with the Industry.
The Guide ensures that closed ended investment funds that are listed on European
and other leading stock exchanges including the London, New York, Dublin, Channel
Islands Stock Exchanges, the Alternative Investment Market and Euronext, can
be subject to a streamlined 72-hour approval process. The regime is available
to private equity, property and other alternative investment funds, such as
hedge funds and funds of hedge funds.
And, as a result of a third development this month, Jersey is likely to be
a more attractive domicile for certain fund and investment structures, including
UK REITs. The States of Jersey has approved an amendment to the Island’s
Income Tax Law which ensures that Jersey companies are treated as non-resident
for tax purposes if certain conditions are fulfilled. This move will be attractive
to certain UK structures which require a UK tax resident company which is not
considered to be resident for tax purposes in another jurisdiction.
Graeme McArthur, representing the Jersey Funds Association, described the developments
as important in making the jurisdiction an even more attractive option for fund
promoters seeking the appropriate location for their alternative investment
vehicles.
He added: “Jersey’s legal and fund professionals can compete even
more effectively as a result of these measures. The Income Tax amendment will
enable Jersey’s funds industry to compete directly with jurisdictions
such as the Cayman, which in the past has invariably been the chosen domicile
when a structure requires a non-UK incorporated but UK tax resident company.
“The launch of the light touch, fast track regulatory regime for listed
closed ended funds will help the Island to acquire more alternative funds business,
taking advantage of the current upswing in permanent capital vehicles for private
equity and hedge fund managers.
“Finally, there is considerable interest from private equity funds and
other alternative investment vehicles in listing on Euronext, so the timing
of the AFM’s recognition of Jersey is ideal in such a buoyant market.”
Jersey’s Funds Industry is continuing its record breaking rise with the
most recent figures for the third quarter of 2006 indicating that the Net Asset
Value of funds under administration now stands at GBP169.8 billion, with close
to half that total figure within specialist funds such as Private Equity, Property
and Hedge Funds.
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