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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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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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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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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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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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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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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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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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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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UK Consults On Corporate Governance Reforms 4/27/2012 The UK's Financial Reporting Council has launched a consultation on planned revisions to corporate governance and auditing rules intended to give effect to new company stewardship proposals.
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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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Hong Kong To Trade Renminbi Futures 4/24/2012 Hong Kong Exchanges and Clearing Limited has plans to introduce renminbi currency futures in the third quarter of this year, subject to regulatory
approval and market readiness.
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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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South Africa Consults On Long-Term Insurers' CGT 4/18/2012 With regard to the proposals announced in the South African 2012/13 Budget in
February this year, the National Treasury has released for public comment details
on how increased capital gains tax rates will be applied to long-term insurers.
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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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UK, India Hold Economic And Financial Dialogue 4/6/2012 The UK and India have held their annual Economic and Financial Dialogue, discussing ways to strengthen cooperation and boost trade and investment.
|
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China Expands RMB Overseas Investment Scheme 4/6/2012 After close consultations between Hong Kong’s Securities and Futures Commission, the People's Bank of China and China’s State Administration of Foreign
Exchange, the China Securities Regulatory Commission has announced an expansion
of the Renminbi Qualified Foreign Institutional Investor scheme.
|
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Schäuble Eyes EU Tax On Shares 4/4/2012 Given the ongoing staunch opposition from certain countries to the idea
of a financial transactions tax in Europe, German Finance Minister Wolfgang Schäbule
has put forward an alternative proposal, starting with a tax
imposed on the stocks and shares of companies listed on the stock exchange.
|
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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 Begins Islamic Bond Tax Consultation 3/30/2012 The Financial Services and the Treasury Bureau has launched a two-month consultation
on the proposed amendments to the Inland Revenue Ordinance and Stamp Duty Ordinance
to promote the development of an Islamic bond, or 'sukuk', market in
Hong Kong.
|
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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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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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Hong Kong Broadens Investor Base With 'Kangaroo' Bond 3/27/2012 The Hong Kong Mortgage Corporation Limited has hosted the signing ceremony
for its successful launch of an inaugural public issue in Hong Kong of an Australian
dollar “Kangaroo” bond.
|
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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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Schäuble Eyes 'Extended' Stock Market Tax 3/27/2012 German Finance Minister Wolfgang Schäuble has recently conceded that there
is little chance of a financial transactions tax at European Union level,
and has therefore advocated instead the introduction of an extended stock market
tax.
|
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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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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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US Taxpayer Makes USD25bn Profit From MBS Investments 3/21/2012 The United States Treasury has announced the completion of the orderly wind down
of its agency-guaranteed mortgage-backed securities portfolio, which it
acquired as part of its response to the financial crisis, at an overall profit
for taxpayers of USD25bn.
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Hong Kong Gazettes Order To Eliminate Capital Duty 3/20/2012 As presaged in the 2012-13 Budget on February 1 this year, the Companies Ordinance
(Amendment of Eighth Schedule) Order 2012, to abolish Hong Kong’s capital
duty levied on local companies, has now been gazetted, Secretary for Financial Services and the Treasury Prof. KC Chan has announced.
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Brazil Hikes Financial Tax Again 3/15/2012 The Brazilian government has stepped up its campaign to weaken the nation's currency,
the Real, with the extension of the 6% financial operations tax, known as IOF,
to foreign loans and bonds maturing within five years.
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EU Divided Over FTT 3/15/2012 Despite months of ongoing discussions, Europe remains divided and seemingly
no further forward on the controversial issue of a financial transactions tax.
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Hong Kong, Malaysia Set Cross-Border Investment Platform 3/15/2012 It has been announced that a pilot platform on cross-border investment and debt-securities
settlement will be launched on March 30 by the Hong Kong Monetary Authority,
Bank Negara Malaysia and Euroclear Bank.
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Hong Kong Reviews Plans For Financial Services 3/9/2012 Secretary for Financial Services and the Treasury, Professor K C Chan, has tabled
a plan at the Legislative Council Finance Committee, whereby the
government will continue to work closely with regulators and the industry to foster
the sustained development of the financial services industry in Hong Kong.
|
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European Commission Acts On Securities Settlement 3/8/2012 In an attempt to bring more safety and efficiency to the financial system in Europe,
the European Commission has proposed the establishment of a European common regulatory
framework for Central Securities Depositories, the institutions responsible
for securities settlement.
|
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Morocco Pursues Innovative Financial Centre Course 3/7/2012 During a recent seminar in Casablanca, Morocco’s Secretary General at the
Finance Ministry Khalid Safir alluded to the latest financial innovations that
have taken place in Morocco, and outlined the government’s future plans
for the country’s financial centre.
|
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Brazil Introduces New IOF Tax Changes 3/6/2012 Brazil announced its decision on March 1, to expand the scope of its financial
transactions tax, IOF, on short-term loans and bonds.
|
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Hollande, Miliband Hold Tax Talks 3/2/2012 During a recent meeting in London with the leader of the UK Labour Party Ed Miliband,
French presidential candidate François Hollande, currently championing
the introduction of a European tax on financial transactions, called for more
rigorous financial market regulation, while insisting, however, that he would
not be 'dangerous' for the City.
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French Lawmakers Pass 2012 Collective Budget 3/2/2012 The French National Assembly has definitively adopted during a new reading the
government’s 2012 supplementary finance bill, a text which had previously
been rejected by the Senate, and providing notably for a rise in the standard
rate of value-added tax and for the introduction of a financial transactions
tax in France.
|
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Switzerland Clarifies Supervision Of SNB 2/29/2012 The Swiss Federal Council has recently taken note of a report on
supervision of the Swiss National Bank.
|
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France's Hollande Eyes 75% Tax Rate 3/1/2012 French Socialist candidate for the Elysée François Hollande has recently announced plans if elected to introduce a top rate of income tax
in France of 75%, imposed on income in excess of EUR1m (USD1.3m) a year.
|
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EU Takes A Look At Structural Banking Reforms 2/27/2012 Michel Barnier, the European Commissioner for the Internal Market and Services,
has appointed the members of the High-level Expert Group which is to examine structural
aspects of the banking sector in the European Union.
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Another Solid Year For The DIFC 2/23/2012 Despite the impact of the European debt crisis, the global economic downturn and political turmoil in certain parts of the region, the Dubai International Financial Centre continues to strengthen its position as the leading international financial centre in the region.
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Eurogroup Welcomes Agreement On Greek Policy Package 2/23/2012 The Eurogroup has issued a statement welcoming the agreement reached with the
Greek government on a policy package constituting the basis for the EUR130bn (USD172bn)
bailout programme, which is conditional on Greece finding another EUR325m in budget savings.
|
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Hong Kong Concludes Short Position Reporting Rules 2/15/2012 Hong Kong’s Securities and Futures Commission has published the conclusions
to its consultation on proposed short position reporting rules, which will now
be submitted to the Legislative Council for consideration.
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EU Finalises OTC Derivatives Market Rules 2/14/2012 After a long period of negotiation, a deal on new European legislation to regulate
trade in over-the-counter derivatives, and aimed at increasing transparency
and reducing risk, has been agreed between the European Parliament and the
Council of the European Union.
|
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Switzerland Steps Up Plans To Abolish Stamp Duty 2/13/2012 The Committee for Economic Affairs and Taxation of the Swiss National
Council has recently announced that it has adopted a bill providing for a revision
of the federal law on stamp duty.
|
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Dutch Central Bank Deems FTT 'Unworkable' 2/10/2012 The Dutch central bank has recently insisted that the introduction of
a European financial transaction tax is ‘undesirable’, and
warned that it is indeed doubtful whether it will counteract risky market
behaviour.
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EU 'Core' Presses For FTT 2/9/2012 French Finance Minister François Baroin has announced that nine European
countries have recently addressed a joint letter to the Danish Presidency of the
European Union calling for work to be accelerated on European plans for a
tax on financial transactions.
|
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Germany's FDP Eyes Saver Tax Relief 2/8/2012 Germany’s ruling Free Democratic Party has recently put forward
the idea of raising the savers' tax-free allowance to compensate for a tax imposed
on financial transactions.
|
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FTT Will Hit UK Revenues Even With Opt Out 2/8/2012 David Cameron's refusal to sign a new European Union deal will not shield the UK from the impact of a financial transaction tax, Ernst and Young has said.
|
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EU Blocks Deutsche Börse-NYSE Euronext Merger 2/6/2012 The European Commission has prohibited, on the basis of the European Union Merger Regulation, the proposed merger between Deutsche Börse and NYSE
Euronext, as it would have resulted in a quasi-monopoly in the area of European
financial derivatives traded globally on exchanges.
|
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ESMA Outlines New ETF Regulatory Framework 2/3/2012 The European Securities and Markets Authority has published a consultation
paper setting out future guidelines on the use by UCITS of exchange-traded funds and other UCITS-related issues.
|
 |
Cameron Mocks 'Mad' French FTT Plans 2/3/2012 Signalling perhaps the demise of the Entente Cordiale, British Prime Minister
David Cameron has openly and pointedly mocked French President Nicolas Sarkozy’s
plans for the introduction of a tax on financial transactions in France.
|
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China Pushes Shanghai As International Financial Centre 2/2/2012 China’s National Development and Reform Commission and the Shanghai Municipal
Government have disclosed that it is intended that Shanghai will be a centre
for onshore renminbi trading, clearing and pricing by 2015, before it becomes
an international financial centre by 2020.
|
 |
Swiss Financial Market Regulation Praised 2/1/2012 According to the Swiss Federal Department of Finance, the Financial Stability
Board has taken a positive view of the 'too big to fail' legislation
in its peer review report on Switzerland.
|
 |
Sarkozy Unveils Long-Awaited Fiscal Strategy 1/31/2012 With the presidential elections fast approaching, French President Nicolas Sarkozy
has recently unveiled details of a last salvo of reform measures, designed to
boost employment and reduce the deficit, including plans
to increase by 1.6% in October the standard rate of value-added tax in France, and proposals for a financial transactions tax.
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Pakistan Eases CGT On Shares 1/30/2012 Pakistan’s Federal Finance Minister Dr Abdul Hafeez Shaikh has announced that the government is to ease the rules on capital gains tax in the hope of boosting investment and reviving trading volumes in the local stock market.
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Sarkozy Readies Fiscal Strategy 1/26/2012 Hoping to avoid an electoral defeat in the forthcoming presidential elections, French President Nicolas Sarkozy intends to unveil concrete details
of proposed fiscal measures designed to stimulate the country’s economy
on January 29.
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EU Modifies Derivatives Proposals 1/27/2012 In an effort to achieve a rapid agreement with the European Parliament, the
European Council has adjusted its position on a draft regulation aimed at
increasing transparency on all derivatives and reducing risk in the over-the-counter derivatives market.
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Danish Presidency's Fiscal Priorities Don't Include FTT 1/27/2012 Denmark’s Economic and Interior Affairs Minister Margrethe Vestager
recently explained to the European Economic and Monetary Affairs Committee that
the key priorities for the Danish Presidency of the European Union Council of
Ministers are increasing surveillance of budgetary policies, and the economic
and fiscal surveillance of eurozone member states facing serious financial instability.
|
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Guernsey Remains Leader In Non-UK Listings 1/27/2012 Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market
authority.
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French FM Sketches Contours Of FTT 1/25/2012 French Finance Minister François Baroin has recently confirmed government
plans to impose a financial transactions tax on shares, securities and derivatives.
|
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Ireland Continues To Defend Corporate Tax Rate 1/25/2012 Ireland is 'not in the business' of changing its corporate tax rate, Deputy Prime Minister Eamon Gilmore has said, stressing that it remains vital to jobs and investment.
|
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Ireland Overcoming Fiscal Woes 1/24/2012 Ireland has received positive feedback in terms of its progress towards fiscal
targets from the International Monetary Fund, the European Central Bank and
the European Commission as part of a review into progress made under a financial
assistance package provided to the nation to aid its resurgence from
the global financial and domestic banking crisis.
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SEC Announces 2012 Securities Transaction Fees 1/24/2012 The United States Securities and Exchange Commission has issued the revised
fee rates applicable to most securities transactions, in accordance with the amendments
to the Exchange Act of 1934 made by the Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010.
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Hong Kong To Relax Listing Rules For Chinese Firms 1/19/2012 At the Asian Financial Forum, held in Hong Kong, the vice-chairman of the China
Securities Regulatory Commission, Yao Gang, has indicated that overseas
listing rules will be relaxed this year.
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Transaction Costs To Soar Under EU FTT 1/18/2012 Transaction costs in the foreign exchange markets would soar under a European financial transactions tax (FTT) and could potentially result in three quarters of taxable transactions relocating to other jurisdictions to avoid the tax, a new report has warned.
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Hong Kong Issues Advice On RMB Investment Products 1/17/2012 Hong Kong’s Securities and Futures Commission has published a list
of frequently asked questions on its website to help investors understand the
key features and risks specific to a new class of investment products which directly
invest in mainland China’s bond and equity markets.
|
 |
Italy Backs EU Financial Transactions Tax 1/16/2012 Italy, under the new leadership of Prime Minister Mario Monti, has voiced support for the introduction of taxes on European financial transactions.
|
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UK Financial Sector Growth Increases 1/11/2012 Growth continues apace in the UK financial services industry but continued wider economic issues are a cause for concern, according to a new survey.
|
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Sarkozy Seeks To Steer Merkel On 'Tobin' Tax 1/11/2012 Ahead of a crucial European Council meeting on January 30, and determined to gain
much needed ground in the run up to the presidential elections in France in April,
French President Nicolas Sarkozy advocated accelerating implementation of
a tax imposed on financial transactions, during his meeting with German
Chancellor Angela Merkel in Berlin on Monday.
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UK Will Block 'Tobin' Tax 1/10/2012 The UK's Prime Minister has again signalled his intention to block plans for a European Union-wide 'Tobin' tax, arguing that current plans are not 'sensible'.
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Hong Kong, Shanghai Enhance Financial Co-operation 1/9/2012 Following the signing in 2010 of the Memorandum of Understanding Concerning Advancing
Hong Kong-Shanghai Financial Co-operation, officials held their second working
meeting on January 6, 2012, in Shanghai, to enhance financial co-operation between
the two places.
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France Takes Lead On Transactions Tax 1/9/2012 France will continue to push for the introduction of a financial transactions tax in Europe this year, even without German backing for an acceleration of the implementation timetable for the proposed new levy.
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HKMA Welcomes First RMB Bond Issue By Chinese Bank 12/26/2011 The Hong Kong Monetary Authority has welcomed the announcement by the China
Development Bank of its forthcoming issuance of renminbi bonds in
Hong Kong through the bond tendering platform of HKMA’s Central Moneymarkets
Unit.
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France, Germany Work On Joint Tax Initiative 12/16/2011 French Finance Minister François Baroin has revealed that a Franco-German
‘contribution’ to the idea of a tax imposed on financial transactions
in Europe is due to be presented on January 23, with a view to being ‘operational’
in 2013.
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Ireland Concerned At UK FTT Opt Out 12/15/2011 The fall-out from the UK's decision to walk away from European Union crisis talks continues, with the Irish Finance Minister Michael Noonan warning of his concerns over a financial transactions tax that excludes the City of London.
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Hong Kong Rated Leading Financial Centre 12/15/2011 The World Economic Forum has disclosed that Hong Kong has overtaken the United
States and the United Kingdom to top its 2011 fourth annual Financial Development
Report.
|
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Hong Kong's Inward FDI Soars 12/13/2011 Recently released figures show that, at the end of last year, the stock of Hong
Kong's inward foreign direct investment increased by 16.7% from a year earlier,
to almost HKD8.5 trillion (USD1.09 trillion) at market value.
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South Africa Looks For Adviser On Islamic Bond Issues 12/9/2011 Within the government’s programme to encourage foreign direct investment
in South Africa, the National Treasury is inviting banking institutions to submit
proposals for the provision of advisory services for the structuring and issuance
of a South African government Islamic bond in the domestic and international markets.
|
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Switzerland To Abolish Issuance Stamp Duty 12/7/2011 Following careful examination of its fiscal priorities, Switzerland’s
Federal Council has decided to abolish the stamp duty on the issuance of corporate capital and improve the tax system for married couples.
|
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Hong Kong Plugs Its Services For Emerging Economies 11/30/2011 Financial Secretary, John C Tsang, speaking at the recently-held 2nd
Annual Emerging Markets Conference, said that Hong Kong, so as to achieve a more
diversified business portfolio, will continue to strengthen trade and investment
co-operation with emerging economies.
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India Has No Plans To Reduce STT 11/29/2011 The Indian government has no plans to lower the securities transaction tax, according to the Minister of State for Finance S.S. Palanimanickam.
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Investment Managers Warn Of 'Misplaced' Financial Regulations 11/29/2011 In a speech to The Lawyer’s recent Funds Summit, Richard Saunders, Chief
Executive of the UK Investment Management Association, focused on the high
volume of financial regulations now being introduced, particularly at European level, many of which are the result
of a 'misplaced analysis' of the financial crisis.
|
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French Committee Backs Financial Transactions Tax 11/25/2011 The French Senate Foreign Affairs Committee has unanimously adopted an international
solidarity tax on financial transactions within the framework of the 2012 finance
bill.
|
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French Senate Approves Automated Transactions Tax 11/23/2011 The French Senate, with its left-wing majority, has approved plans to establish
a tax on automated transactions in France, to curb the rapid rise in high frequency
trading.
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EU Makes Antitrust Commitments From S&P Binding 11/22/2011 The European Commission has made legally binding the commitments offered
by Standard and Poor's to counteract antitrust concerns that the latter
was overcharging for the use of International Securities Identification Numbers by information service providers and banks in Europe.
|
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UK, Germany Clash Over FTT 11/21/2011 The UK's coalition politicians are uniting in their opposition to plans for a financial services tax, with the Prime Minister expected to clash with the German Chancellor over the issue.
|
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FAF Sets Out Convergence Agenda 11/17/2011 The Financial Accounting Foundation, which oversees the United States accounting
standards setter the Financial Accounting Standards Board, has generally backed
the Securities and Exchange Commission's proposed approach to converging United
States Generally-Accepted Accounting Principles standards with International Financial
Reporting Standards.
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EU Looks To Strengthen Credit Rating Framework 11/18/2011 Despite the adoption of European Union legislation on credit rating agencies in 2009 and 2010, the European Commission believes that recent developments
in the context of the euro debt crisis have shown the existing regulatory framework
is not sufficient, and it has put forward proposals to deal with perceived outstanding
weaknesses.
|
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UK Chancellor Attacks 'Suicidal' Tobin Tax Plans 11/16/2011 With its finances in a perilous state, Europe should not be creating new burdens such as that represented by a financial transactions tax, the UK Chancellor of the Exchequer George Osborne has said.
|
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France Mulls Tax To Curb High Frequency Trading 11/15/2011 The French Senate finance committee has recently adopted an amendment put forward
by general rapporteur Nicole Bricq, proposing that a tax be imposed on automated
transactions, specifically intended to curb the rapid rise in high frequency trading.
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'Tobin' Tax Must Be EU-Wide, Says Ireland 11/11/2011 Dublin's financial services sector would be hard hit were proposals for a financial transaction tax not rolled out across the European Union (EU) as a whole, Ireland's Finance Minister, Michael Noonan, has warned.
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EU To Strengthen Financial Conglomerate Supervision 11/11/2011 The European Council, at its meeting on November 8, adopted a new directive amending
the existing financial conglomerate directive, which is intended to ensure appropriate
supplementary supervision of financial entities in a financial conglomerate, and
to adapt the supervision of financial conglomerates to the new supervisory structure
in the European Union.
|
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FTSE Consults On Minimum Free Float Requirements 11/8/2011 The FTSE Group has announced that it is undertaking a market consultation
on the minimum free float requirements for United Kingdom incorporated companies
in the FTSE UK Index Series.
|
 |
G20 Leaders Endorse FSB's Regulatory Measures 11/8/2011 The recent G20 Leaders Summit in Cannes endorsed the implementation of various
financial system reform measures developed by the Financial Stability Board,
particularly strengthening the oversight of global systemically important financial
institutions.
|
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IRS Clarifies Foreign Government Tax Exemptions 11/7/2011 The Internal Revenue Service has released a notice of proposed rulemaking
that is intended to provide guidance as to when the income of foreign governments
and international organizations from investments in the United States will be
deemed to be exempt from taxation under section 892 of the Internal Revenue Code.
|
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US Lawmakers Propose Financial Transaction Tax 11/4/2011 Senator Tom Harkin (D - Iowa) and Representative Peter DeFazio (D - Oregon) have
introduced bills in both sides of the United States Congress to place a financial
transaction tax on trading activities undertaken by banking and financial
firms, with effect from January 1, 2013.
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FSB Tackles Shadow Banking Regulations 11/2/2011 The Financial Stability Board has published a report providing its recommendations
on strengthening oversight and regulation of the shadow banking system, as was
requested by the G20 Leaders at their November 2010 Summit in Seoul.
|
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London Mayor Fears EU Transactions Tax 11/2/2011 Europe should drop its proposals for a financial transactions tax at the earliest opportunity, London's Mayor has said, slamming the plans as a 'new mill stone' which will do major economic damage.
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