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Australian Superfund Managers Face Greater Scrutinty 5/25/2012 Legislation to increase scrutiny of Australia's superfund managers has passed its first legislative hurdle, news welcomed by the minister in charge, who has stressed that the reforms will close an important regulatory gap.
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Accountants Urge IRS To Simplify Foreign Pension Reporting 5/24/2012 The New York State Society of Certified Public Accountants is calling on the US Internal Revenue Service to provide a simplified method of electing deferral of US taxation on Canadian pension plans, and is requesting additional guidance on the taxation of foreign retirement and pension plans due to consumer confusion over the filing procedures required by such programs.
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Australia Releases Details Of Superfund Tax Relief Plans 5/22/2012 The Australian government has released a proposals paper designed to support the implementation of its superannuation reform package and provide further details of planned tax reliefs.
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Belgium Warned Of Further Austerity Ahead 5/18/2012 Belgium’s Federal Planning Bureau, providing economic analyses and forecasts
for the government, has recently announced that if Belgium is to limit its public
deficit to 2.15% of gross domestic product in 2013 and to re-establish
a balanced budget in 2015, in line with its targets, new measures totalling
around EUR11bn (USD14bn) will be necessary, of which EUR3bn from next year.
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South Africa Consults On Retirement Savings Incentives 5/15/2012 Following the Minister of Finance Pravin Gordhan’s announcement in his 2012
Budget in February that the South African government is looking to provide incentives
for savings and the reform of the retirement industry, the National Treasury has
now published an overview consultation paper.
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Gibraltar Proposes Law Change To Offer UK QROPS 5/15/2012 The Gibraltar government has published a Bill that would amend the territory's
legislation to allow local practitioners to offer Qualifying Recognised Overseas
Pension Schemes under a regime compliant with new rules set by the UK tax authority,
HM Revenue and Customs.
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Luxembourg May Extend Budget Measures 5/10/2012 During a recent address on the state of the nation, Luxembourg’s Prime
Minister Jean-Claude Juncker presented the government’s declaration on
the current economic, social, and financial situation in Luxembourg, indicating
crucially that the fiscal initiatives taken on April 27 to consolidate the public
finances will have to be extended beyond 2014.
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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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Greek Conservatives Pledge Sweeping Tax Cuts 4/27/2012 Unveiling details of his economic programme in Athens recently, ahead of the May
6 elections, Greece’s New Democracy conservative leader Antonis Samaras
pledged to reduce taxes and to increase spending on low pensions, while at the
same time ensuring that the ambitious deficit reduction targets agreed with international
moneylenders are met.
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Finland Adopts Stability Programmes 4/27/2012 The Finish government has recently announced that it has approved both the
Stability and Europe 2020 National Programmes, designed to track medium-term
economic development, and to enable the country to meet its European fiscal
targets.
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Australia To Grant Tax Relief To Superfund Managers 4/26/2012 A new temporary relief will enable Australian superfunds to merge without facing a tax hit, thanks to new legislation intended to support superannuation reforms.
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Luxembourg, Germany Sign Revised DTA 4/25/2012 German Finance Minister Wolfgang Schäuble and his Luxembourg counterpart
Luc Frieden have recently signed in Berlin a new agreement on the avoidance
of double taxation in the area of taxes on income.
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IRS Consults On Public Sector Retirement Age Rules 4/23/2012 It has been announced that the United States Internal Revenue Service and
the Treasury Department anticipate issuing guidance relating to the applicability
of the normal retirement age rules to governmental plans.
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US Congress Looks At Retirement Account Tax Reform 4/20/2012 The United States House of Representatives Ways and Means Committee has held a
hearing on possible modifications to tax-favoured retirement savings plans, including
employer-sponsored defined contribution plans and individual retirement accounts, which might be considered as part of comprehensive tax reform.
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Guernsey 'Singled Out' In UK QROPS Change 4/17/2012 Guernsey Finance, the promotional agency for the island's financial services
industry, has condemned the UK tax authority's decision
to remove almost all Guernsey Qualifying Recognised Overseas Pensions Schemes from its updated list,
describing the move as an 'unjust attack on the island'.
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IoM 50C Pension Scheme Falls Foul Of New QROPS Rules 4/16/2012 The Isle of Man government has responded to the recent update to UK rules regarding
Qualifying Recognised Overseas Pension Scheme, which now excludes transfers to
structures under Section 50C of the Income Tax Act 1970, known as 50C pension
schemes.
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Czech Cabinet Unites On Austerity Package 4/13/2012 Following months of internal conflict, the Czech cabinet has finally adopted the
comprehensive savings programme agreed by the coalition parties, containing a
raft of savings measures and planned tax rises aimed at consolidating the country’s
finances.
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Offshore QROPS Domiciles Stunned At HMRC's Last-Minute Change 4/12/2012 The UK tax authority, HM Revenue and Customs
has indicated that tax
relief available on pension transfers, under so-called Qualifying Recognised
Overseas Pension Scheme structures, will no longer be available unless the Scheme
is offered within the territory in which the expatriate is newly resident, putting
a multi-million offshore industry at jeopardy.
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Manx Legislators Lag Behind QROPS Change 4/10/2012 Isle of Man pensions provider, Boal & Co has confirmed that it has been forced
to cease offering its Trinity QROPS offering until Isle of Man legislation is
brought up to speed with changes to UK pension rules.
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UK Opposition Attacks New Tax Year Changes 4/10/2012 The Labour party's Ed Balls has slammed the latest round of tax and benefit changes to hit UK taxpayers, arguing that families with children are set to lose over GBP500 a year.
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UK Taxpayers Missing Out On Tax-Free Saving Opportunities 4/10/2012 New research from Standard Life says that a general lack of awareness about the UK tax system
is preventing UK taxpayers from capitalising on tax relief available annually on contributions
to Individual Savings Accounts (ISAs) and personal pensions.
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German Lawmakers Adopt Updated DTA With Turkey 4/5/2012 The German Bundestag, or lower house of parliament, has recently adopted the federal
government’s bill pertaining to the bilateral double taxation agreement with Turkey, signed in Berlin by German Finance Minister Wolfgang Schäuble
and his Turkish counterpart Mehmet Simsek on September 19, 2011.
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Ontario's Finance Minister Unveils 2012 Budget 4/3/2012 Ontario will not lower its corporate tax rate until the budget is balanced, the province's Finance Minister has said.
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Spain Unveils Tough Austerity Budget 4/3/2012 The Spanish government of Mariano Rajoy has recently unveiled details of Spain’s
2012 austerity budget, the toughest in recent history, providing for savings totalling
around EUR27.3bn (USD36bn), and including the EUR15bn in tax rises and expenditure
cuts announced back in December.
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Austrian Lower House Backs Savings Package 3/30/2012 The Austrian national council has recently adopted the government’s savings
package, providing for savings between 2012 and 2016 of around EUR17.3bn (USD22.7bn) and for
additional tax revenues of approximately EUR9.2bn, achieved predominantly by closing
existing tax loopholes.
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Australia Launches New Superannuation Advice Website 3/23/2012 The Australian government has launched a new website designed to offer advice on and help with access to improvements in the superannuation system.
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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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Australia Delays Financial Advice Reforms 3/26/2012 The Australian government has announced that its Future of Financial Advice reforms will not become mandatory until July, 2013, stressing that this will benefit the wealth management industry.
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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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UK Budget Delivers Tax Cuts 3/23/2012 George Osborne has delivered a Budget that ‘unashamedly backs business’, slashing the top rate of personal income tax and accelerating corporate tax cuts.
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UK Pension Industry Calls For Tax Stability 3/16/2012 There should be no further changes to the UK pension tax system, the head of the National Association of Pension Funds has warned the Chancellor of the Exchequer.
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Panel Makes UK Pension Tax Recommendations 3/15/2012 The UK's Office of Tax Simplification has released the initial findings of its review of pensioner taxation, identifying areas of the tax system causing older taxpayers the most difficulties.
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Tax Simplification Body Reviews UK Share Schemes 3/14/2012 The Office of Tax Simplification has put forward its recommendations on UK tax advantaged share schemes, designed to encourage take up, and reduce the burdens on those offering the schemes.
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Belgium Unites On Fiscal Consolidation Measures 3/13/2012 The Belgian government has finally united on further fiscal consolidation measures
totalling almost EUR2.5bn (USD3.3bn), in addition to the EUR11.3bn already provided
for in the country’s original 2012 budget agreed by coalition parties back
in December.
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Eurogroup Backs Second Greek Bailout Deal 3/14/2012 Following months of gruelling negotiations, euro zone finance ministers finally
gave their seal of approval to a second EUR130bn (USD170bn) bailout package
for Greece, during the latest European Council meeting in Brussels.
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Britons Will Overpay GBP12.6bn In Tax This Year 3/12/2012 UK taxpayers will overpay an average of GBP421 in tax this year, with 85% failing to act on reducing their tax bill, according to new figures.
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Canadian Minister Highlights New Pension Vehicle 2/29/2012 Canada's new pension vehicle will help small and medium-sized businesses compete in the jobs market, the Minister in charge has said.
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UK QROPS Proposals 'Grossly Unfair On Guernsey' 2/29/2012 Changes to tax regulations that aim to clamp down on the mis-selling of qualifying recognized overseas pension schemes will disproportionately affect Guernsey, which has a completely clean QROPS record with the UK tax authority, HM Revenue and Customs, according to a leading Guernsey QROPS provider.
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Belgium Seeks EUR2bn To Limit Budget Deficit 2/28/2012 Belgium’s select ministerial committee has recently confirmed that the additional
fiscal effort needed to limit the country’s deficit to 2.8% of gross domestic
product in 2012 will be in the region of EUR2bn (USD2.67bn).
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Hong Kong, Jersey Sign DTA 2/28/2012 On February 24, Hong Kong’s Secretary for Financial Services and the Treasury,
Professor K C Chan (pictured), and Jersey’s Chief Minister Ian Gorst, signed a double
taxation agreement between Hong Kong and Jersey.
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Australian Pension Tax Concessions Examined 2/24/2012 The Australian government has held the inaugural meeting of the Superannuation Roundtable, which has agreed that a priority going forward is to get better information around the current distribution of tax concessions.
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UK Insurers Braced For FATCA Impact 2/23/2012 Proposed US regulations will impact on UK insurers in spite of hopes that they might have been excluded from the Foreign Account Tax Compliance Act regime.
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Eurozone Backs Second Greek Bailout Deal 2/22/2012 Following over twelve hours of intense negotiations, eurozone finance ministers
gathered in Brussels finally agreed to a second EUR130bn (USD170bn) rescue package
for Greece, to enable the country to avoid bankruptcy and to secure its future
in the eurozone.
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Greece Agrees EUR3.3bn Savings Plan 2/21/2012 Just ahead of a planned meeting of eurozone finance ministers in Brussels, the
Greek cabinet has unanimously approved a final series of austerity measures totalling
EUR325m (USD429m) to secure the EUR130bn bailout agreement from international
lenders including the European Union and the International Monetary Fund,
vital to avoiding bankruptcy.
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PwC Comments On UK Pension Tax Reform Rumours 2/20/2012 PwC has analysed the options allegedly mooted by the UK government in its rumoured look at reducing tax relief on pensions saving.
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Finland Urged To Reduce Labour Taxes 2/15/2012 The Organisation for Economic Cooperation and Development has urged Finland to
accelerate the pace of tax reforms to support fiscal consolidation to tackle the fiscal challenges of an ageing population, particularly by lowering labour taxes to boost employment levels.
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Austria Unites On Savings Package 2/13/2012 Austria’s Finance Minister Maria Fekter has recently announced that the
coalition government has finally united on plans for 'the largest reform
package' of the Second Republic, designed to consolidate the country’s
public finances by a total of EUR26.457bn (USD34.915bn) by 2016, but without recourse to an annual tax on wealth, to the reintroduction of an inheritance and gift tax or to an increase in the top rate of tax.
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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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Guernsey Prepared For Change To UK QROPS Rules 2/7/2012 Guernsey Finance - the promotional agency for the island's financial services
industry has confirmed that the Guernsey government will act to protect local
providers of QROPS pension arrangements if the UK tax authority, as expected,
pushes ahead with changes to its QROPS regime, expected to be introduced from April 6, 2012.
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Australia Announce New Superannuation Roundtable 2/7/2012 Australia’s government has announced a new Superannuation Roundtable to consider ideas raised at the recent Tax Forum to provide Australians with more options in retirement and to improve certain superannuation concessions.
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Minister Promotes New Canadian Pension Vehicle 2/2/2012 The introduction of Pooled Registered Pension Plans will bridge gaps in Canada’s retirement income system, the Minister in charge has said.
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Time For Tax Transparency, Says UK Lawmaker 1/27/2012 UK taxpayers could receive yearly statements detailing how their money is spent, under new legislation put forward by a member of parliament.
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Luxembourg, Belgium Champion Fiscal Discipline 1/25/2012 During a recent working visit to Luxembourg, Belgian Prime Minister Elio Di
Rupo held talks with his Luxembourg counterpart Jean-Claude Juncker, with the
talks focussing on fiscal issues currently under discussion in the European
Union.
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Guernsey Pursues Financial Services Commission Overhaul 1/23/2012 The Guernsey Financial Services Commission has formed a team to be supported by Ernst and Young to undertake an overhaul of
the functioning of the Commission in its regulation of financial services entities
to provide cost efficiencies against the background of the increasing regulatory workload.
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UK Pension Schemes Divided On Accounting Rules 1/19/2012 UK pension schemes are divided over whether their pension liabilities should form part of their annual accounts and be subject to audit, according to a new KPMG survey.
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Guernsey Reforms Inheritance Law 1/17/2012 The Guernsey government has noted the newly adopted Inheritance (Guernsey)
Law, 2011, which is due to come into force on April 2, 2012.
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Irish Revenue Chief Apologies For Pension Tax Farce 1/13/2012 The chair of the Irish Revenue Commissioners has been forced to apologise for the distress caused by the disclosure that thousands of Irish pensioners are to face unexpected tax charges.
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Austrian Chancellor Stands Firm On Wealth Tax 1/11/2012 Following the first ministerial council meeting of 2012, Austria’s Chancellor
and leader of the Social Democrats Werner Faymann underlined the
importance of a stable eurozone and of generating new revenues in Austria as
part of the government’s planned national consolidation package.
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Call For Clarity Over Irish Pension Tax Debacle 1/10/2012 The fallout from the Irish Revenue's disclosure that thousands of pensioners will receive an unexpected tax hit continues, with the agency forced to re-open customer enquiry lines and facing calls for a public information campaign.
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Austria Eyes 'Structural' Tax Changes 1/9/2012 Austria’s Finance Minister Maria Fekter recently underlined the need
for reforms and for structural changes in Austria to reduce the country’s
debt, including changes to the current tax system, to steer the country onto
a long-term savings course.
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Irish Pensioners Facing Tax Hit 1/9/2012 115,000 Irish pensioners are to be hit by unexpected tax charges after new information came to light regarding inaccuracies in figures held across different government departments.
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Canada Clarifies Separation Of Banking And Insurance Activities 12/29/2011 Canadian Finance Minister, Jim Flaherty, announced recently that the Harper Government
will introduce legislation to prevent banks from offering financial products that
function like life annuities.
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EU Praises Portuguese Fiscal Policy 12/26/2011 The European Commission has delivered a report on progress made by the Portuguese
government in its efforts to bring the nation's fiscal house into order.
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Cayman Named Top Hedge Fund Domicile 12/21/2011 The Cayman Islands was named as the most favoured domicile for hedge funds in the recent Hedge Funds Review’s Service Provider Rankings.
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IRS Pushes Tax Credits For Retirement Accounts 12/20/2011 The United States Internal Revenue Service is encouraging low- and moderate-income
workers to take steps to save for retirement and earn a special tax credit in
2011 and the years ahead.
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Canada Consults On New Pension Law 12/16/2011 The Canadian government has released for consultation a package of draft legislative proposals to bring in a new pension vehicle.
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Austrian Institute Opposes New Taxes 12/14/2011 Hot on the heels of an announcement by Austria’s Chancellor Werner Faymann
on plans for a EUR1.5bn (USD2bn) savings package next year, president of the
Austrian Federal Economic Chamber Christoph Leitl warned against
plans for new taxes, underlining the need instead for cuts in expenditure and
for vital reform measures.
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UK Consults On Changes To QROPS Taxation 12/13/2011 The UK has published for consultation draft legislation which will overhaul the system for the transfer of pension savings to qualifying recognised overseas pension schemes.
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Greek Lawmakers Vote Yes To 2012 Budget 12/8/2011 Amid renewed protests and clashes with police, the Greek parliament approved by
a large majority the controversial budget for 2012, providing for further tax
rises and drastic cuts in spending.
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Noonan Delivers Tax Changes In Irish Budget 12/8/2011 Irish Finance Minister Michael Noonan has delivered a comprehensive austerity budget comprised largely of tax measures designed to raise almost EUR2bn (USD2.7bn) in additional revenue.
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Japan, Jersey Sign TIEA 12/7/2011 The tax information exchange agreement between Japan and Jersey was signed
on December 2, 2011, in London by Keiichi Hayashi, the Ambassador of Japan to
the United Kingdom, and Ian Gorst (pictured), Jersey’s Chief Minister.
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Portugal Gives Green Light To 2012 Austerity Budget 12/1/2011 Amid protests, and despite fears of plunging the debt-ridden country yet further
into the mire of recession, Portugal’s parliament has adopted the
centre-right coalition government’s severe austerity budget, providing for
a number of tax rises as well as for sharp cuts in public sector wages.
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Austerity Continues For UK 12/1/2011 It may prove hard to avoid recession in the UK, the Chancellor of the Exchequer George Osborne has said, unveiling a package designed to ensure the government meets its fiscal targets in spite of seemingly gloomy economic prospects.
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Belgium Unites On 2012 Budget 11/30/2011 At the eleventh hour and following intensive talks, negotiators in Belgium, led by Elio Di Rupo, tasked by the King with forming a viable coalition government, have finally united on plans for the country’s 2012 budget, providing for savings of EUR11.3bn (USD15.1bn) and for a public deficit of 2.8% of gross domestic product.
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Hong Kong Looks At Narrow Tax Base 11/29/2011 In his written response to a question in the Legislative Council, the Secretary
for Financial Services and the Treasury, Professor K C Chan, confirmed that the
government is building reserves to cater for the longer term needs that could
arise from Hong Kong’s ageing population, taking into account the SAR's narrow tax base.
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UK Tax 'Drives Away Wealth Creators' 11/28/2011 The UK faces a lost generation of wealth creators, with the 50% top rate of income tax set to push them away and cost the economy billions, a new report has said.
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Greek PM Seeks Cross-Party Bailout Pledge 11/23/2011 Greek Prime Minister Lucas Papademos has called for all party leaders of the country’s
interim national unity government to provide written assurances to the European
Union of their commitment to the painful, rigorous terms of Greece’s
new EUR130bn (USD176bn) international bailout deal.
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IoM Public Sector Pension Overhaul Praised 11/22/2011 The new Chairman of the Isle of Man's Civil Service Commission, Alfred Cannan,
has thrown his weight behind proposals from the Manx government to reform public
sector pensions.
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Greek Dissentions Threaten Bailout Deal 11/18/2011 Overcoming a significant first hurdle, the interim crisis government of Lucas
Papademos recently won by a large majority a crucial vote of confidence in the
Greek parliament, although tensions already apparent within the coalition of national
unity could still jeopardize implementation of the vital fiscal reform measures
needed to rescue the country from the threat of bankruptcy.
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Canada Approves Use Of BSX Securities In Retirement Savings Plans 11/17/2011 The Bermuda Stock Exchange has announced that the Minister of Finance for Canada has approved the addition of the exchange to the list of designated exchanges under Canada's Income Tax Act.
|
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French Senate Approves Amended Social Security Bill 11/16/2011 The French Senate has recently adopted on a first reading the country’s
2012 social security finance bill, providing notably for the abolition of the
tax exemption accorded for overtime hours.
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Austria Unites On 2012 Budget 11/16/2011 The budget committee of the Austrian National Council has recently given the green
light to the country’s 2012 federal budget bill, providing for tax revenues
of around EUR64.41bn (USD87.3bn) and for spending of approximately EUR73.58bn,
corresponding to a federal deficit of 2.6% of gross domestic product.
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UK Urged To Ease Reporting Burden 11/15/2011 Cutting out unnecessary 'clutter' in annual reports would help many UK businesses struggling under burdensome regulation, without devaluing the reports themselves, according to a new survey.
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Juncker Urges Greece To Commit To Austerity Deal 11/9/2011 Luxembourg’s Prime Minister and head of eurozone finance ministers Jean-Claude
Juncker has called for Greece’s new government to pledge its commitment
in writing to the bailout deal agreed with eurozone leaders at the end of October,
to secure release of the next tranche of international aid by mid-December.
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Gibraltar Clarifies Tax Position Of UK Pensions 11/8/2011 The Gibraltar government has dismissed the possibility that the authorities could
enter into an agreement with the UK government to allow Gibraltar residents in
receipt of a UK pension to receive tax exemptions now available on Gibraltar pensions.
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Irish Tax Revenues Up, But Some Targets Not Met 11/7/2011 The Irish government had taken almost EUR2bn (USD2.74bn) more in taxes at the end of October than in the same period last year, with the new pension levy performing particularly well. However, many of the government's targets have not been achieved.
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Philippines Issues Retirement Account Tax Regulations 11/4/2011 The new revenue regulations to implement the tax provisions of the Personal Equity
and Retirement Account Act have been issued by the Philippines Bureau of
Internal Revenue.
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Greece Plans Referendum On Austerity Measures 11/1/2011 In a shock move, stirring up greater uncertainty and volatility in the markets,
Greek Prime Minister George Papandreou announced plans to hold a referendum on
the new bailout package for Greece, arguing that he required wider political support
for the government’s proposed – and highly unpopular – fiscal
and economic reform measures.
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Tax Rules Hit Canadian Retirement Prospects 11/1/2011 Canadian workers are unable to save enough for their retirement because federal tax rules are preventing many from doing so, the C.D. Howe Institute has said, arguing that major reform is required.
|
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UK Firms Look To Asset Backed Pension Schemes 10/31/2011 Asset-backed financing for pension schemes in the UK continues to grow, now accounting for 20% of total deficit contributions made, according to a new survey from KPMG.
|
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Hong Kong-Netherlands DTA In Force 10/26/2011 The comprehensive double taxation agreement between Hong Kong and the Netherlands,
which was originally signed on March 22, 2010, entered into force on October 24,
2011.
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7 Million Britons Incorrectly Taxed 10/24/2011 In the latest episode of a ongoing saga over its pay-as-you-earn system, HM Revenue and Customs has revealed that over seven million UK taxpayers were taxed incorrectly over a five year period, meaning it will now have to offer rebates to the tune of GBP2.5bn (USD3.9bn).
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Japan-Cayman Islands TIEA Enters Into Force 10/20/2011 The comprehensive tax information exchange agreement between Japan and
the Cayman Islands, which was originally signed on February 7 this year, will
come into force on November 13, 2011.
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Greece Gets Tough On Tax Evasion 10/18/2011 Greek Finance Minister Evangelos Venizelos has announced plans to publish the
names of around 15,000 individuals, alleged to have evaded taxes in Greece.
|
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IMF Demands Robust Fiscal Policy Response From Cyprus 10/17/2011 The significant deterioration in Cyprus's public finances requires a 'strong and
immediate policy response' to restore confidence in the territory's international finance centre,
according to a report from the International Monetary Fund.
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UK Tax Relief Changes To Hit Pension Contributions 10/17/2011 Self Invested Pension Plans and Small Self Administered Schemes will see their fund flow reduced as a result of reductions in tax relief, new research has revealed.
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Irish Tax Revenues Still On The Up 10/6/2011 Ireland's latest economic figures make for largely positive reading, with tax revenues at end-September up 8.7% on last year, an achievement attributed to the new universal social charge and the introduction of the controversial pension funds levy.
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Switzerland Reaches Out To Over-Taxed HNWIs 10/6/2011 Swiss cities including Bern, Lausanne, Lugarno and Lucerne have launched a new marketing campaign promoting the low taxes and the business benefits of moving to Switzerland, targeting UK companies and wealthy individuals suffering from a serious case of the fiscal blues.
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Guernsey Tops Europe In Specialist Finance Centre Index 10/4/2011 Guernsey has been rated highly in the latest index of specialist finance centres,
as published by trade title The Banker, securing second position globally and the top spot in Europe.
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Spain's Rubalcaba Eyes Further Tax Rises 10/4/2011 Spain’s Socialist candidate in the forthcoming November 20 elections,
Alfredo Perez Rubalcaba, has recently announced plans to increase by 10% the
tax levied on alcohol, excluding wine and beer, and on tobacco as part of efforts
to finance and to safeguard the country’s current healthcare system.
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