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On June 3, 2016, Pakistan's Finance Minister Mohammad Ishaq Dar delivered the country's 2016/17 Budget, which proposes a slew of direct and indirect tax measures. Read Full Story
Brazilian Finance Minister Guido Mantega announced on June 4, 2014, that the government has decided to exempt some foreign loans from the Tax on Financial Transactions. Read Full Story
The European Commission has recently given its green light for enhanced cooperation on plans for a European Union financial transactions tax, by adopting a corresponding proposal for a Council Decision. Read Full Story
The Hong Kong government has published a statement confirming that it considers that the Linked Exchange Rate System should not be changed as, since its implementation in 1983, it has been the cornerstone of Hong Kong's monetary, financial and economic stability. Read Full Story
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. Read Full Story
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. Read Full Story
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. Read Full Story
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. Read Full Story
The Hong Kong Monetary Authority and the United Kingdom Treasury have announced the launch of a joint private-sector forum to enhance cooperation between Hong Kong and London on the development of offshore renminbi business. Read Full Story
Italy, under the new leadership of Prime Minister Mario Monti, has voiced support for the introduction of taxes on European financial transactions. Read Full Story
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