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.
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.
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.
New Laws To Enhance Labuan's Credentials As Financial Services Centre,
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, February 24, 2010
New laws which, it is hoped, will substantially improve Labuan’s competitive
edge in international financial markets came into effect this month.
A total of four new acts, together with radical amendments to a further four
existing laws, will completely change the way in which Labuan carries on its
financial services business. With the enactment of the new laws, the Labuan
Offshore Financial Services Authority will be re-named the Labuan Financial
Services Authority (Labuan FSA).
Dato Azizan Abdul Rahman, the Director-General of Labuan FSA said: “These
far-reaching changes cover all financial activities in Labuan International
Business and Financial Centre – from banking, insurance, leasing
and company incorporation right through to the creation of Islamic financial
products and services. Apart from that, the changes have taken into consideration
all aspects so that we are ahead of accepted international standards and practices.”
In particular, an additional clause to the Labuan Offshore Business Activity
Tax Act will enable the island to adopt the internationally-agreed Organization
for Economic Cooperation and Development standard for the exchange of information
for tax purposes in double taxation agreements (DTAs).
It provides power to the Director General of Inland Revenue to call for information
from any person as he may require for the purpose of compliance with any DTAs
entered into by the government of Malaysia. It allows the disclosure of any
information on a DTA to any authorised agent of the government with whom Malaysia’s
government has made such an agreement, and upon a request from a tax authority
of any government of any country outside Malaysia.
Furthermore, any person may request for an advance ruling from the Director
General of Inland Revenue on the application of any provision of the Tax Act
to a particular type of arrangement. Subject to certain qualifications, a ruling
issued under this proposed section is binding on the person who requested for
such ruling and on the Director General of Inland Revenue.
The new laws allow for the creation of Labuan foundations, limited liability
partnerships, protected cell companies (insurance and mutual funds), shipping
operations, Labuan special trusts and financial planning activities. These complement
the existing available range of products and services and aim to provide investors
with a wider choice of financial products to maximise investment opportunities.
.
PROTECT AND GROW
WEALTH OFFSHORE
Protect
Yourself and Your Assets against Devaluation of the Dollar, Currency
Controls, tax hikes and nationalization!
Discover legal ways to protect what is rightfully yours.
Truth revealed about Secure Multi-currency Banking, Family Foundations,
offshore gold/silver storage, Second Passports and more. Get your
"plan B" in place. Don't suffer from the crisis - profit from
it!
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
13/07 
Free Tax-News Feed