June 19, 2012 | 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.

 

 

 

Latest Tax-News Special Feature

 

International Real Estate Taxation

In our previous feature on international real estate taxation, we recounted how governments in Europe in particular were becoming increasingly reliant on higher or new property taxes as part of their deficit reduction strategies, and this is a trend that has continued into 2012. However, we are also witnessing property taxes being used in Asia for quite different reasons: namely as a way to cool overheated real estate markets.

 

Perhaps the most significant new property tax measure to have been announced recently was in the United Kingdom. There had been much speculation in the run up to the 2012 Budget in March that Conservative Chancellor George Osborne would introduce some form of 'mansion tax' on properties worth in excess of GBP2m to secure support from left-leaning junior coalition partner, the Liberal Democrats, for lowering the top rate of personal income tax.

 

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Latest Tax News

 

UK Creative Industries Tax Breaks 'To Be World's Best'

The UK's creative industries are set to benefit from new 'world class tax breaks' unveiled by Chancellor of the Exchequer George Osborne in a move designed to encourage innovation and investment.
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Parliament Passes Canadian Budget Legislation

Key elements of the 2012 Canadian Budget have passed their first legislative hurdle, an achievement that Finance Minister Jim Flaherty says positions Canada for long term-success.
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German Bundestag Adopts 2012 Supplementary Budget

The German Bundestag, or lower house of parliament, has recently adopted during a second and third reading the country's 2012 supplementary budget, providing for the first and second payments of Germany's capital contribution to the European Stability Mechanism.
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Swiss Bankers Face 'Unprecedented' Challenges

The Swiss Private Bankers Association has recently published details of its 2011 annual report, outlining the major challenges currently facing the Swiss financial centre, particularly in the area of tax, regulation and financial market access.
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MS Deutschland Chided For Symbolic Flag Change

The operator of the German cruise liner, the MS Deutschland has drawn significant fire, both from the government and unions, for its decision to abandon the German shipping registry, and operate under the more competitive Maltese flag.
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