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.
SPBA Examines Future Of Private Banking In Switzerland,
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, January 21, 2010
President of the Swiss Private Bankers Association (SPBA), Konrad Hummler, has
recently unveiled details of the association’s strategy for the Swiss financial
center, as defined in its general meeting held last year.
The strategy is centered around four axes, two of which the
SPBA considers to embody essential principles, and two of which it deems “negotiable”:
The first axis, and the foremost principle underpinning the strategy, is
financial privacy, which, the SPBA emphasizes, is a fundamental right of any
individual, irrespective of their country of origin. This right does not,
however, entitle an individual to neglect domestic tax obligations.
The second axis enshrines the principle that, whatever happens in future
to the Swiss financial center, neither the upstanding banking employees nor
their clients may be criminalized, either at home or abroad.
The third axis marks flexibility in the area of taxation, provided that
both the first and the second axes are deemed absolute.
The final axis stipulates that concessions in the area of taxation may
only be granted provided that foreign countries agree to offer Switzerland
a service in return.
The SPBA President highlighted the fact that the idea of levying a withholding
tax on foreign account holders not only demonstrated Switzerland’s commitment
to honoring, as far as possible, an individual’s privacy, but also to
acknowledging the legitimate fiscal requirements of other civilized and democratic
countries.
Hummler also underlined the fact that a withholding tax is merely a logical
extension of a tax levied on interest, which has already been agreed with the
European Union (EU).
Defending the idea of levying a withholding tax, Hummler explained that rather
than being proposed “too late”, it comes just at the right time,
ahead of the proposed revision of the Savings Tax Directive in 2013. The SPBA
vehemently rejects the idea of an automatic exchange of information, he stressed.
According to Hummler, a lack of market access abroad is posing significant
difficulties for the Swiss financial sector, particularly within the EU. Services
are, as a rule, only able to be carried out via subsidiaries, Hummler continued,
which consequently has a negative effect on jobs in Switzerland, on net product,
and on tax revenue.
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.