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HKMC Improves SME Financing Guarantee Scheme 5/25/2012 The Hong Kong Mortgage Corporation Limited has announced that with the
government’s support, it will introduce a new 80% loan guarantee product
under the SME Financing Guarantee Scheme, from May 31, 2012 and for a period
of nine months.
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Hong Kong-London RMB Forum Holds First Meeting 5/27/2012 The private sector-led Hong Kong-London Forum, which was established in January
this year to promote closer collaboration between Hong Kong and London in support
of the wider international use of the renminbi, held its first meeting on
May 22, 2012.
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EP Adopts 'Ambitious' FTT Resolution 5/27/2012 During a recent plenary session, the European Parliament adopted an ambitious
approach on a possible financial transactions tax.
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FINMA Strengthens Monitoring Tools 5/27/2012 During a recent sitting, the Swiss Federal Council adopted a report pertaining
to the development of monitoring and organizational instruments applied by the
Swiss Financial Market Supervisory Authority.
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Rutte Intent On Growth And Fiscal Discipline 5/27/2012 Following the recent informal European Council meeting in Brussels, Dutch Prime
Minister Mark Rutte emphasized that growth and sound financial policy ‘are
not mutually exclusive but in fact go hand in hand’.
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US Treasury Describes Its Anti-Money Laundering Options 5/25/2012 A fact sheet issued by the United States Treasury Department has explained how
Section 311 of the USA PATRIOT Act of 2001 provides the Treasury Secretary a range
of options that can be adapted to target specific money laundering and terrorist
financing risks.
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EU Focuses On Growth 5/25/2012 Commenting on the outcome of the recent informal European Council meeting in
Brussels, European Council President Herman Van Rompuy announced that an agreement
had been reached on plans to work towards a growth strategy and on the need
to strengthen economic union to make it commensurate with monetary union.
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Malaysia, Australia Sign FTA 5/24/2012 On May 22 in Kuala Lumpur, as a complement to the existing regional agreement between Australia
and the Association of Southeast Asian Nations, of which Malaysia was
one of the original members, Australia's Trade Minister Craig Emerson and his
Malaysian counterpart Mustapa Mohamed signed a comprehensive bilateral free trade
agreement.
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Guernsey Finance Influential In MENA Region 5/23/2012 Guernsey Finance, the promotional agency for the island’s finance industry, has
been named as one of the 50 most influential organizations working within the
Middle Eastern and North African funds industry.
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IRS Told To Improve FATCA Plans 5/21/2012 The United States Government Accountability Office has disclosed that, as
the implementation of the Foreign Account Tax Compliance Act should provide
the Internal Revenue Service with a substantial amount of new information,
Congress has asked for a review of how it plans to manage that information.
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Luxembourg Defends Savings Tax Opposition 5/21/2012 During the recent European Union Economic and Financial Affairs Council meeting in Brussels, Luxembourg’s Finance Minister Luc Frieden defended
his decision to block the European Commission’s plans to negotiate new and
stronger savings tax agreements with third countries, insisting that given recent developments, the automatic exchange
of tax information is not necessarily the only solution to combating tax evasion.
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Mauritius Joins Key Multilateral Regulatory Agreement 5/21/2012 The Financial Services Commission of Mauritius has become a signatory of the International
Organization of Securities Commissions' Multilateral Memorandum of Understanding, which sets out international standards on cooperation and information exchange for the robust regulation of securities and future markets internationally.
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Swiss Tax Deals Pass First Parliamentary Hurdle 5/21/2012 Passing the first important hurdle, the Swiss Committee for Economic Affairs and
Taxation in the Council of States, or upper house of parliament, recently voted in favour of the withholding
tax agreements with Germany, the UK, and Austria.
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Hong Kong Revises Bank Market Entry Criteria 5/17/2012 Amendments to the Banking Ordinance, which seek to update market entry criteria
for Hong Kong's banking sector, will be submitted to the Legislative Council on
May 23 and, subject to its negative vetting, will take effect on July 12, 2012.
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Austria, Luxembourg Block EU Savings Tax Proposals 5/18/2012 Much to the deep annoyance and extreme frustration of European Union Tax Commissioner
Algirdas Semeta, Austria and Luxembourg have blocked the European Commission’s
plans to negotiate new and stronger savings tax agreements with Switzerland, Monaco,
Liechtenstein, Andorra and San Marino, aimed at strengthening cooperation in tax
matters.
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Dubai Enhances Bank Regulatory Ties With China 5/18/2012 The regulator of the Dubai International Financial Centre, the Dubai Financial Services Authority has announced that it has entered into a supplementary agreement
to further boost cooperation with the China Banking Regulatory Commission.
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Swiss Asset Managers Slam 'Incoherent' Financial Centre Strategy 5/17/2012 During its general assembly in Zurich, the Swiss Association of Asset
Managers criticized the government’s ‘white money strategy’,
a new financial market policy geared towards the management of taxed assets, calling instead
for a coherent strategy for the Swiss financial centre.
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Eurogroup Committed To Fiscal Consolidation 5/16/2012 Following the latest Eurogroup meeting in Brussels, Luxembourg’s Prime Minister
and Eurogroup President Jean-Claude Juncker confirmed that the Eurogroup’s
consolidation strategy, in accordance with provisions contained in the Stability
and Growth Pact, ‘remains appropriate’ and will therefore continue
to form the cornerstone of its strategy to correct fiscal and economic imbalances
to overcome the crisis and to return to sustainable growth.
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IRS Non-Resident Reporting Rule Questioned Again 5/16/2012 The Treasury Department’s failure to provide sufficient answers about Internal
Revenue Service regulations requiring United States banks to disclose interest
paid to non-resident aliens has prompted the House of Representatives’ Ways
and Means Oversight Subcommittee Chairman Charles Boustany to
request additional information.
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Hong Kong Concerned At Operation Of US Volcker Rule 5/14/2012 Following is a question in the Legislative Council, the Secretary for Financial
Services and the Treasury, Professor K C Chan, confirmed that Hong Kong shares
the concerns raised by other financial markets, such as Canada, France, Germany,
Japan and the United Kingdom, over the extra-territorial reach and the implementation
of the United States’ Volcker Rule restrictions.
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San Marino Urged To Consider New Economic Model 5/11/2012 Despite a 15% decline in tax revenues in San Marino over the past two years,
authorities have been able to maintain a comparatively low deficit. However, the most significant
challenges relate to the stability of the nation's banking sector, which has suffered capital flight as tax transparency initiatives gain ground, a new International
Monetary Fund report says.
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Spain 'Confident' 2012 Budget Plans Will Spark Growth 5/10/2012 Spain’s Secretary of State responsible for Budget and Expenditure Marta
Fernandez Curraz has recently defended the country’s budgets for 2012, insisting
that they are based on discipline and fiscal consolidation, to enable the government
to confidently overcome the crisis.
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Turks And Caicos Takes Strides Towards Self-Rule 5/10/2012 The provisional Governor of the Turks and Caicos Islands, Ric Todd, has released a report detailing progress made towards fundamental reforms to the island's frameworks to prevent corruption, and correct fiscal imbalances, deemed necessary before the islands are returned to self-rule by the UK government.
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Hungary To Abolish Bank Tax 5/11/2012 The Hungarian government has announced plans to halve the country’s bank
tax in 2013, before subsequently abolishing the levy in 2014.
|
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Italy, Switzerland Agree To Tax Talks 5/11/2012 Following the recent positive developments with regard to the tax treaties between
Switzerland and various European Union member states, a meeting held on May 9
between Swiss and Italian officials has agreed to the establishment of a working
group to resolve the outstanding tax problems between their two countries.
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IMF Identifies Risks In Swiss Banking Sector 5/11/2012 The International Monetary Fund has said in its latest Article IV consultation with Switzerland that, while the fiscal position is healthy, there remain a number of risks to the country's financial services sector, amid the possibility of a real estate bubble.
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Financial Crisis Hits Jersey Finance Industry Profits 5/10/2012 The Jersey government's latest statistical report shows a significant decline in the profitability and size of the nation's financial services industry since the start of the financial crisis, putting pressure on Jersey tax receipts. Recent figures for 2011, however, show modest signs of improvements.
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EU Fails To Unite On Basel III 5/10/2012 Despite a marathon round of intense negotiations in Brussels, led by the Danish
Presidency of the European Union, EU Economic and Financial
Affairs Council ministers failed to agree a common approach on the
issue of more stringent capital standards.
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Jersey Enhances Regulatory Cooperation With Germany 5/9/2012 The Jersey Financial Services Commission has announced the signing of a cooperation
agreement to boost its relationship with the German banking, insurance and investment firms'
regulator, the Bundesanstalt fur Finanzdienstleistungsaufsicht.
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DIFC To Accept Credit Rating Agencies 5/10/2012 The Dubai Financial Services Authority has launched a consultation on new rules which would allow credit rating agencies to establish operations from the Dubai International Financial Centre tax-free zone.
|
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Rajoy Eyes Taxpayer Funds To Shore Up Ailing Banks 5/10/2012 Marking a dramatic about-turn, Spain’s Prime Minister Mariano Rajoy has
confirmed that he is no longer ruling out the idea of using taxpayers’
money to support ailing banks in Spain to avert a crisis and to restore confidence.
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Offshore Merger And Acquisition Activity Rises 5/9/2012 A new report from Appleby shows that transaction values for mergers and acquisitions (M&A) in major offshore financial centers rose by 25% in the first quarter of 2012.
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Germany Unites On Financial Supervision Reforms 5/7/2012 During a recent sitting, Germany’s federal cabinet adopted a bill aimed
at strengthening financial supervision in Germany.
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Left Demands Improvements To Swiss-German Tax Deal 5/7/2012 Despite cracks appearing in cross-party relations, Germany’s red-green federal
states, governed by both the Social Democrats and by the Green Party, are said to remain united in their firm opposition to the Swiss-German
tax deal, and in their demands for improvements to be made to the text.
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Swiss Left Seeks To Delay Debate On Tax Deals 5/4/2012 Switzerland’s Social Democrats have threatened to block in parliament
the landmark withholding tax agreements concluded recently with Germany, the
UK and Austria, if the treaties are not in accordance with the party line.
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HKMA Reviews Its Progress In 2011 5/3/2012 In addition to its actions to strengthen further the risk management of banks
through its supervisory actions and countercyclical measures on property mortgages,
the Hong Kong Monetary Authority pointed, in its 2011 Annual Report, to
its support to the further expansion of renminbi market activities in Hong Kong.
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HMRC Will Not Appeal Stamp Duty Ruling 5/3/2012 The UK tax authority, HM Revenue and Customs, will no longer seek to impose Stamp Duty Reserve Tax on the issue of shares to depositary receipt issuers and clearance services outside the European Union following a recent legal ruling.
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Barbados Targets US Investors 5/2/2012 Barbados's Prime Minister Freundel Stuart has highlighted the advantages of doing
business in the territory for United States investors as the US Chamber of Commerce
prepares to launch an office in the country this year.
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India Obtains TIE Relaxations From Switzerland 5/2/2012 According to a statement from the India’s Ministry of Finance, the Indian
and Swiss governments have signed a protocol to their
bilateral double taxation agreement, which will allow for a 'liberal
interpretation' of the identity requirements before the exchange of information.
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IoM Contributes To UK Tax Transparency Program 5/1/2012 The Isle of Man government has recently participated in an initiative funded
by the UK's Foreign and Commonwealth Office to provide training to the British Overseas
Territories of Montserrat and Anguilla to help them meet their
international obligations on tax information exchange.
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Dutch PM Confirms Bank Tax Rise 5/2/2012 The caretaker Prime Minister of the Netherlands Mark Rutte has confirmed that the country's proposed bank tax will be increased as part of the government's latest budget agreement, designed to reduce the deficit to 3% of gross domestic product next year.
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UK, EU Talk 'Shadow Banking' Regulation 5/1/2012 At a conference on ‘shadow banking’ in Brussels, both Michel Barnier,
European Commissioner for Internal Market and Services, and Paul Tucker, the Bank
of England’s Deputy Governor for Financial Stability, have outlined their
views on policies for its better regulation.
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Di Pietro Calls For Tax Treaty With Switzerland 5/1/2012 Antonio di Pietro, the former anti-corruption magistrate and present
leader of the Italia dei Valori opposition party, has written in his blog that
the Italian government should now be looking to garner the EUR40bn (USD53bn) in
tax revenue that could be available by concluding a tax treaty with Switzerland.
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Ireland, US In Talks Over FATCA 5/1/2012 Ireland and the United States are in talks to establish a common approach to the Foreign Account Tax Compliance Act, drawing on domestic and international tax legislation and treaties.
|
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Uruguay To Exchange Tax Information With Argentina 5/1/2012 Uruguay has agreed to share tax information with Argentina, under a landmark double
tax agreement recently signed between the two nations.
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German Cabinet Adopts Swiss Tax Deal 4/30/2012 The German cabinet has recently adopted the bill implementing the bilateral
tax agreement with Switzerland.
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Switzerland To Conclude TIEAs 4/27/2012 The Swiss Federal Council has recently taken the decision to agree to the international
standard on administrative assistance not only in double taxation agreements,
but also in so-called tax information exchange agreements.
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Barbados's Tax Transparency Framework Endorsed 4/27/2012 The Barbados government has welcomed recognition from the Organization for
Economic Cooperation and Development that its legislative and regulatory framework
for the exchange of tax information meets international standards.
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EP Committee Seeks Wider FTT Net 4/30/2012 The Economic and Monetary Affairs Committee of the European Parliament has
said in a recently adopted resolution that the European Commission’s proposed
financial transaction tax should be better designed in order to capture more traders
and to make evading it unprofitable.
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Geithner Finds Progress In US-China Trade Relations 4/30/2012 In remarks made to the Commonwealth Club of California in San Francisco, Timothy
Geithner, the US Treasury Secretary, reviewed the development of the trading and
economic relationship between the United States and China, and pronounced that
significant progress has been made.
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New Taxes In Hungary's Euro Plan 4/26/2012 The Hungarian government has recently adopted the second part of its ‘Szell
Kalman’ plan, forming part of the country’s euro convergence programme and containing new tax measures to help shore up its revenue base.
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France Publishes Revised 2012 'Black List' 4/26/2012 French Finance Minister François Baroin and Budget Minister Valérie
Pécresse have recently updated the country’s ‘black
list’ of countries deemed to be ‘uncooperative’ in tax matters.
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Bermuda Concludes Marketing Push In China 4/26/2012 Business Bermuda, the promotional agency for the territory's financial services
industry, has concluded a week-long business development and relationship-building
trip in Shanghai and Beijing mirroring the decisions of other small,
low-tax, financial centres targeting the region as a new source of financial services growth.
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Jersey Builds Business Relationship With UAE 4/24/2012 Jersey Treasury Minister Philip Ozouf has arrived in the United Arab Emirates
as part of a three-day official visit to promote Jersey's offerings as an international
financial centre.
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Volcker Rule Conformance Period Clarified 4/25/2012 The United States Federal Reserve Board has clarified that an entity covered
by the Volcker Rule section of the Dodd-Frank Wall Street Reform and Consumer Protection
Act has the full two-year period provided by the statute fully to conform its
activities and investments.
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Swiss Parliament Adopts Tax Deal With Austria 4/25/2012 Switzerland’s Federal Council has recently adopted the text of the
withholding tax agreement with Austria.
|
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French Banks Defend Tax Policies 4/23/2012 The heads of two top banks in France have recently defended the banks’ policies and actions to senators, as part of a Senate committee’s ongoing enquiry into capital flight.
|
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London Invokes Clause To Improve Swiss Tax Deal 4/24/2012 In a diplomatic note, the UK has called for changes to be made to the bilateral
withholding tax agreement concluded with Switzerland last October, aimed at
resolving the issue of the undeclared wealth of British residents held in Swiss
banks.
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Swiss Lawmakers To Examine German, UK Tax Deals 4/23/2012 The Swiss Federal Council has recently submitted to parliament the bilateral
withholding tax agreements with Germany and the UK, together with the Federal
Act on International Withholding Tax, designed to implement the new agreements.
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SVG's Tax Transparency Endorsed 4/20/2012 Saint Vincent and the Grenadines has welcomed the adoption of a report
by the Organization for Economic Cooperation and Development that
confirms the territory has adequate frameworks in place to meet international standards on tax transparency
and information exchange.
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German Bank Tax Yields Meagre Rewards 4/20/2012 Germany’s controversial bank tax is expected to yield meagre revenues
this year of just EUR500m (USD655m), well below the government’s original
target figure, and below the EUR590m derived from the levy last year, according
to recent reports.
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Liechtenstein, Sweden TIEA Enters Into Force 4/19/2012 The bilateral tax information exchange agreement between Liechtenstein
and Sweden has now entered into force, following ratification of the treaty by
the relevant contracting parties.
|
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BIS Issues Final Principles For FMIs 4/20/2012 The Bank for International Settlement’s Committee on Payment and Settlement
Systems and the technical committee of the International Organization of
Securities Commissions have published the final version of their ‘Principles
for Financial Market Infrastructures’ report.
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Liechtenstein, Austria Eye Withholding Tax Deal 4/18/2012 Austria reportedly plans to re-launch talks with Liechtenstein at the end of
April, aimed at negotiating a bilateral tax deal between the two countries to
resolve the issue of untaxed assets held by Austrian residents in the Principality’s
banks.
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Canada, Chile Expand FTA 4/18/2012 Canada and Chile have signed a modernized and expanded free trade agreement, designed to deepen commercial ties between the two countries.
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IRS Issues Final Non-Resident Reporting Rule 4/18/2012 The Treasury Department has issued the final regulations on the reporting to the
Internal Revenue Service of interest paid to non-residents by United States
banks from January 1, 2013.
|
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Cyprus Committed To Deficit Reduction Targets 4/18/2012 Cyprus's Finance Minister Vassos Shiarly has expressed confidence that the nation will be able to meet the deficit reduction targets agreed with Europe and its Russian creditors.
|
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Swiss Bankers Welcome Tax Deal With Austria 4/18/2012 The Swiss Bankers Association has recently taken note of the signing
of the bilateral tax agreement between Switzerland and Austria, and has welcomed
the fact that the Confederation’s strategy for tax conformity, defined
over two years ago, has now been substantiated with a third European country
following the agreements signed with the UK and with Germany.
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Italy Delays Transaction Reporting For Banks 4/18/2012 The Italian Revenue Agency has delayed the obligation on banks and other financial
institutions to identify transactions subject to value-added tax and of an amount
over EUR3,600, that will have to be electronically reported
to the tax authorities as part of the government’s efforts to increase tax
compliance.
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Tunisia Consults On Complementary Finance Bill 4/17/2012 The Tunisian committee responsible for planning, finance and development within
the National Assembly have recently examined the country’s 2012 complementary
finance bill, including the key fiscal measures contained in the draft law.
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FATF Mandate Extended To 2020 4/17/2012 Ministers from nations party to the Financial Action
Task Force's 40+9 recommendations are to extend the organization's mandate to 2020, to allow the agency to continue its role of protecting
the integrity of the international financial system through the development and enforcement of its anti-money laundering
and terrorism financing standards.
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Hong Kong, Spain DTA Enters Into Force 4/16/2012 The agreement for the avoidance of double taxation, signed between Hong
Kong and Spain on April 1 last year, came into force on April 13, after the completion
of ratification procedures on both sides.
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Details Provided Of Taiwan's Proposed CGT 4/17/2012 Taiwan's Finance Minister Christina Liu has announced the structure
of the new capital gains tax that the government will impose on profits made from trading in shares, bonds and derivative products, such as futures and options.
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Switzerland Stands Firm On Revised German Tax Deal 4/17/2012 Staunchly defending the importance of the bilateral tax agreement with Germany,
as a means to resolve the longstanding issue of undeclared assets held by German
residents in the Confederation’s banks, Swiss Finance Minister Eveline Widmer-Schlumpf
has ruled out any further compromises.
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Liechtenstein, Switzerland Initiate DTA Discussions 4/16/2012 Switzerland and Liechtenstein have recently announced plans to negotiate a
bilateral double taxation agreement between the two countries.
|
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Future Bright For Panama: IMF 4/13/2012 The International Monetary Fund has published its Article IV report in respect
of Panama, noting that the country has exited the global downturn robustly, with
a well-capitalised banking system, but efforts should continue to build upon the
tax revenue base to reverse poor revenue performance witnessed last year.
|
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New Zealand Doing Well, IMF Says 4/9/2012 The International Monetary Fund has praised New Zealand's deficit reduction plan and called the government's macroeconomic stance appropriate in its latest review.
|
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Malta To Improve Workings Of Deposit Compensation Scheme 4/9/2012 The Maltese Financial Services Authority has proposed measures to bolster the functioning
of the nation's Depositor Compensation Scheme - a safeguard to mitigate depositor
losses should a resident financial institution default.
|
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OECD Issues New Peer Reviews 4/5/2012 The Organization for Economic Cooperation and Development, publishing eleven new peer reviews, has said that the vast majority of territories which have been subject to critical assessments have implemented satisfactory legislative regimes that can facilitate the exchange of information on request.
|
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US Approves Final Rule On Shadow Banking 4/6/2012 The United States Financial Stability Oversight Council has issued its
final rule and interpretive guidance on the Federal Reserve Bank’s authority
to require supervision and regulation of nonbank financial companies.
|
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Schäuble Tries To Quieten Swiss Tax Imbroglio 4/5/2012 German Finance Minister Wolfgang Schäuble has underlined the need
for the bilateral Swiss-German withholding tax agreement to enter into force as
planned from January 1, 2013, despite Switzerland’s inflammatory decision this week to issue arrest warrants for three German tax investigators for industrial espionage.
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Barbados Publishes Credit Risk Management Rules 4/4/2012 The Central Bank of Barbados has noted the publication of a new set of Credit
Risk Management Guidelines to assist financial institutions in meeting their credit risk management
obligations.
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Guernsey, Switzerland Discuss Financial Synergies 4/3/2012 Guernsey recently hosted a Swiss government delegation during a two-day visit to the island, which reinforced
the importance of links between Guernsey and Switzerland, particularly in financial
services.
|
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UK House Of Lords Slams FTT Proposals 4/3/2012 European plans for a Financial Transaction Tax place the City of London under severe threat, a group of UK lawmakers has warned.
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Hong Kong Launches New AML/CFT Regime 4/2/2012 Legislation which was approved by the Legislative Council in June 2011 and which
will enhance the Hong Kong financial sector’s anti-money laundering and counter-financing of terrorism regime went into effect on April 1.
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Liechtenstein's Nordic TIEAs Enter Into Force 3/30/2012 The Liechtenstein government has recently announced that the bilateral tax information
exchange agreements (TIEAs) concluded with Norway, Finland, Iceland, Greenland
and the Faroe Islands are due to enter into force shortly, following ratification
of the treaties by the relevant contracting parties.
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Switzerland Sticking With Exchange Rate Fix 3/30/2012 Switzerland’s Economy Minister Johann Schneider-Ammann has insisted recently
that the minimum exchange rate set by the Swiss National Bank of CHF1.20
per euro must be maintained.
|
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State Street Granted Jersey Banking License 3/30/2012 The Jersey Financial Services Commission has granted State Street Corporation,
one of the world's leading provides of financial services to institutional investors,
a license to expand its offerings to include Jersey-based banking.
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Juncker Seeks Alternatives To FTT 3/29/2012 During a recent conference in Brussels, Luxembourg’s Prime Minister and
Eurogroup President Jean-Claude Juncker expressed his reservations regarding
the idea of a tax on financial transactions, advocating instead that an alternative
be examined.
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Switzerland Snubs Tax Deal With Austria 3/28/2012 The Swiss government has no firm plans to conclude a bilateral tax agreement with Austria to resolve the longstanding issue of undeclared bank accounts held by Austrian nationals in the Confederation’s banks despite claims to the contrary by the Austrian government.
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IMF Warns Of Swiss Financial Sector Risks 3/28/2012 While the Swiss economy is seen as 'fundamentally strong', the International Monetary Fund has urged Swiss
authorities to focus efforts towards strengthening safeguards for the financial
services industry, and preventing a possible real estate bubble.
|
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Hong Kong's SFC Waives Annual Fees 3/27/2012 Hong Kong’s Securities and Futures Commission has announced that the
payment of annual licensing fees will be waived for a two-year period, effective
from April 1, 2012.
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Schäuble Concedes FTT Doomed To Failure 3/28/2012 In a shock announcement just ahead of a crucial euro zone finance ministers’ meeting in Copenhagen, German Finance Minister Wolfgang Schäuble has finally conceded that Franco-German plans for the introduction of a European tax imposed on financial transactions are doomed to failure.
|
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SEC Enhances Cooperation With EU, Cayman Islands 3/27/2012 The United States Securities and Exchange Commission has announced that
it has established two memoranda of understanding with the Cayman Islands
Monetary Authority and the European Securities and Markets Authority, as
part of its long-term strategy to improve the oversight of regulated entities
that operate across national borders.
|
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Netherlands Seeks 'Alternatives' To FTT 3/26/2012 The Dutch finance ministry has recently confirmed government plans to ask the
European Commission to examine the idea of ‘alternatives’ to the introduction
of a financial transactions tax in Europe.
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Guernsey Wealth Management Promoted In India 3/23/2012 Guernsey's offerings as a wealth management domicile were promoted at the India Wealth Forum, held recently in Delhi and attended by Guernsey wealth management
firm Nerine Group of Fiduciaries.
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Semeta Eyes 'Political Compromise' On EU FTT 3/22/2012 During a recent meeting of members of the finance and fiscal committees in
the Danish parliament in Copenhagen, European Union Commissioner for Taxation
Algirdas Semeta once again underlined the need for a European financial transactions
tax (FTT) to partially fund the European budget thereby reducing national contributions, while acknowledging the need for a 'political compromise'.
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Switzerland, UK Supplement Withholding Tax Agreement 3/23/2012 Switzerland and the United Kingdom have
recently signed in Brussels a Protocol of Amendment that supplements the withholding
tax agreement of October 6, 2011.
|
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Gibraltar Government To Back Finance Industry 3/23/2012 To mark one hundred days in office, the Gibraltar government has made a number
of pledges that it will fulfil during its term, many of which are pertinent
to taxpayers and the financial services sector.
|
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Switzerland, EU Discuss Tax 3/22/2012 Swiss President Eveline Widmer-Schlumpf and Federal Councillor Burkhalter have
recently met with top European Union representatives within the scope of a working
visit in Brussels, with the discussions focussing on current developments in
bilateral relations and in particular on strengthening cooperation in the area
of taxation.
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