May 7, 2013 | having difficulty Viewing this email? view THE online version

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Tax-News.com carries topical headlines and features on international tax, legal, economics, business and investment issues.

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Problems Seen For Stand-Alone US Corporate Tax Reform

While there appears to be a growing political consensus that revenue-neutral corporate tax reform that would lower the current 35% United States tax rate by drastically reducing corporate tax breaks could be possible, the Tax Policy Center of the Urban Institute and Brookings Institution has noted that such reform on its own faces a big practical challenge from non-corporate businesses.
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Germany Divided On Swiss Tax Deal Renegotiation

German Finance Minister Wolfgang Schäuble has ruled out the idea of renegotiating the bilateral tax deal with Switzerland, blocked by the German Bundesrat, or upper house of parliament, in December last year.
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Irish FinMin Publishes Latest Exchequer Returns

Ireland's controversial new Local Property Tax has already generated EUR21m in revenue, but the established 'big four' tax heads have not all performed as expected, the latest Exchequer figures show.
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Congress Receives JCT Report On Tax Reform

The United States House of Representatives Ways and Means Committee Chairman Dave Camp and its Ranking Member Sander Levin have promised to examine closely the details included in the Joint Committee on Taxation's report on the Committee's Tax Reform Working Groups.
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The Sovereign Group

Sovereign acquires The JLJ Group, a specialist provider of China Entry and Growth Services

Hong Kong, 25th April 2013 - The Sovereign Group, the independent, international wealth management and corporate services provider, has acquired The JLJ Group, an integrated services provider that accelerates international companies' ability to understand and operate in the China market.

JLJ, which has offices in Shanghai and Beijing, will be combined with Sovereign's existing operations in China. The new Shanghai office will employ 20 staff, while another five employees will be based in the Beijing branch.

The JLJ Group was formed in 2003 and has worked with over 600 clients, including government organisations and companies of all sizes - from Fortune 500 multinational corporations and global brands, to a variety of small and medium-sized enterprises.

JLJ services include market research and consulting, company formation and accounting outsourcing, which make it a perfect addition to Sovereign's global business.

Howard Bilton, Chairman of The Sovereign Group, said: "Setting up a business in China is particularly fraught with difficulties and can involve enormous bureaucracy. We have been working with JLJ for some time and recognised their considerable expertise in this area. This acquisition allows Sovereign to offer its worldwide clientele an efficient and high quality service for those wishing to do business in China and strengthens the Sovereign global offering."

Timothy Lamb, Managing Director of The JLJ Group, said: "We are excited about the opportunities this acquisition brings us to expand our service offerings while being part of a global company of dedicated professionals."

In 2012, 44% of global Foreign Direct investment (FDI) inflows were hosted by only five countries. China attracted the lion's share of USD 253 billion (or 18% of total) followed by the United States (USD 175 billion), Brazil (USD 65 billion), the United Kingdom (USD 63 billion) and France (USD 62 billion) - Source: FDI in Figures, published by Investment Division, Secretariat of the OECD Investment Committee, April 2013).

About The Sovereign Group

Click here for more information on the Sovereign Group, or contact your nearest Sovereign office.

Email info@SovereignGroup.com or visit www.SovereignGroup.com

For more information on The JLJ Group, please visit www.JLJGroup.com or contact info@JLJGroup.com