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.
EU Set To Unveil Savings Tax Directive Changes,
by Ulrika Lomas, LawAndTax-News.com, Brussels
Thursday, October 30, 2008
The European Commission will on November 12 present a proposal to amend the Savings Tax Directive in an attempt to ensure "more effective taxation of savings income and eliminate undesirable loopholes which facilitate tax evasion and tax fraud."
The Commission announced last Friday that amendments to the directive, which
have been under discussion for some time, are now all the more urgent "in
light of recent events in the area of tax evasion."
According to a Commission report to the European Council last month, the directive
in its current form "has proven effective within the limits set by its
scope." However, this evaluation cited the need for certain amendments to the legislation
in order to close possible loopholes and to limit the administrative burden
on paying agents.
In a speech given to the European Platform for 3rd Country Finance Centres on
October 14, Tax Commissioner Laszlo Kovacs said that the EC is “committed
to promoting the co-operation against tax fraud and tax evasion."
"The sustainable development of all economies relies on the capacity of
national tax administrations to effectively exchange information. Increasing
the transparency of tax systems makes them less vulnerable for use in tax evasion
schemes. This does not mean protecting high tax rates in certain countries,
but exactly the opposite, as an increased tax compliance makes easier the lowering
of the tax burden for all the honest taxpayers," he said.
“In return for its partners' acceptance of these principles, the
EU is prepared to offer certain incentives. A concrete example of what we can
provide is the Governance incentive tranche under the 10th European Development
Fund (EDF). Countries eligible for development aid, and who take detailed commitments
to the principles of good governance in the tax area, may receive an additional
allocation depending on the quality of their commitment. A number of Caribbean
and Pacific countries have taken such commitments, some others have simply refused
to do so," he added.
The savings tax directive applies in 42 jurisdictions: 27 Member states, 5
non EU countries (Switzerland, Liechtenstein, Monaco, Andorra and San Marino)
and 10 dependent and associated non-EU territories (Anguilla, Aruba, the British
Virgin Islands, the Cayman Islands, Guernsey, the Isle of Man, Jersey, Montserrat,
the Netherlands Antilles as well as the Turks and Caicos Islands).
Following the request of the Ecofin Council, the European Commission has started
discussions with selected Asian financial centres, namely Hong Kong, Singapore
and Macao. Formal negotiations will also start shortly with Norway, at its request,
whilst other jurisdictions like Bermuda and Iceland have shown interest in participating
in the savings taxation arrangements.
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