CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Dublin's IFSC Fears German Tax Changes

Dublin's IFSC Fears German Tax Changes

by Jason Gorringe, Tax-News.com, London

17 December 2002


According to a report in Ireland's Sunday Business Post, German fund promoters based in the International Financial Services Centre (IFSC) in Dublin are likely to suffer as a result of planned tax changes in Germany.

The draft legislation has yet to be passed by parliament's upper house, but if it is approved it will take effect in February 2003, effectively introducing a withholding tax for German domiciled funds of only half the amount that will apply to internationally domiciled funds, such as those based in Dublin's IFSC.

Speaking to the Sunday Business Post at the weekend, a representative from tax law firm, Heimann observed that:

'It is a real threat to the German investment fund market. Domestic as well as foreign funds would be discriminated against direct shareholdings. Foreign funds will suffer considerably from the continued tax discrimination following the non-applicability of the semi-income taxation.'


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »