This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax 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.
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.
Austria, Luxembourg Agree To EU Tax Recovery Directive,
by Ulrika Lomas, Tax-News.com, Brussels
Friday, January 22, 2010
During a recent meeting of the European Council of Finance Ministers, Luxembourg
and Austria – two countries with a long tradition of banking secrecy –
agreed to a draft directive aimed at strengthening mutual assistance between
member states in the recovery of taxes.
The draft directive is aimed at better fulfilling the member states' needs
with regard to the recovery of taxes, providing an overhaul of Directive 76/308/EEC
(codified by Directive 2008/55/EC), on the basis of which the member states
have engaged in mutual assistance since 1976 aimed at clamping down on tax evasion.
The draft directive is intended to provide for an improved assistance system,
with rules that are easier to apply, as regards information held by banks and
other financial institutions, and provide for more flexible conditions for requesting
assistance, requiring the spontaneous exchange of information.
According to Austria’s Vice Chancellor and Finance Minister, Josef Pröll,
the agreement is a clear sign that both Austria and Luxembourg are prepared
to find solutions to key issues.
Previously, Pröll had argued that the tax recovery directive should
be examined alongside the reform of the EU Savings Tax Directive and the Mutual
Assistance Directive. Defending his decision, however, Pröll revealed that
he did not want to unnecessarily delay progress.
Under the new draft directive, all EU member states must provide information in accordance with Article 26 of the Organization for Economic Cooperation and
Development’s (OECD's) model agreement on tax information exchange, Pröll
explained. Austria agreed to conform to the OECD standard last year, he remarked.
Pröll gave his assurances that Austria is also prepared to agree to other
standards. The Spanish EU presidency is endeavoring to reach an agreement on
the tax package in the first half of 2010.
Austria and Luxembourg have announced, however, that they are only willing
to accept the amended EU Savings Tax Directive provided that Switzerland, Andorra,
Liechtenstein, Monaco and San Marino apply the same or similar rules on transparency.
Indeed, both EU member states intend to maintain their banking secrecy until
Switzerland agrees to participate in an automatic exchange of information.
The draft directive will be adopted at a forthcoming Council meeting, once
the European Parliament's opinion is available.
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.
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
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:
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.
TAX-NEWS.COM
Free Tax-News Feed