financial services News
Luxembourg Adapting To International Tax Changes, Says S And P
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, September 21, 2017
While Luxembourg is adapting to changes in the international tax environment, a loss of attractiveness due to stricter international tax regulations poses one of the main risks to growth, according to Standard and Poor's. Read Full Story
Hong Kong Proposes Enhancing Tax Loss Relief For Groups
by Mary Swire, Tax-News.com, Hong Kong
Thursday, September 14, 2017
Hong Kong's Financial Services Development Council on September 11 released a report entitled "A Proposal for the Introduction of Group Tax Loss Relief in Hong Kong," which proposes tax refinements with a view to encouraging corporate groups to undertake investment activities in Hong Kong. Read Full Story
Swiss Tax Planners Agree US Non-Prosecution Agreement
by Mike Godfrey, Tax-News.com, Washington
Thursday, August 17, 2017
Swiss asset management firm Prime Partners has entered into a non-prosecution agreement with the US Attorney's Office, under which it will pay a USD5bn settlement. Read Full Story
Mauritius 'Reinventing Itself,' With Refocused Tax Breaks
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, August 15, 2017
Prospects for Mauritius's economy remain "robust," with the Government undertaking a number of initiatives to improve the attractiveness of the domestic tax regime for businesses. Read Full Story
Italian Tax Police Seeks Bank Data From Credit Suisse
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, July 25, 2017
The Italian financial police, Guardia di Finanza, has requested further details on undeclared bank accounts held by Italian citizens from the Swiss authorities. Read Full Story
UAE To Exempt Residential Property From VAT
by Lorys Charalambous, Tax-News.com, Cyprus
Monday, July 17, 2017
The United Arab Emirates' Ministry of Finance has confirmed that residential property will be exempt from the Gulf Cooperation Council value-added tax when it comes into force in January 2018, but that a five percent rate will apply on sales or leases of commercial property. Read Full Story
New Tax Treaties Key To Aircraft Leasing Growth In Hong Kong, Says Report
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, July 12, 2017
The Hong Kong Financial Services Development Council has released a report calling for the Government to expand its tax treaty network, in particular with countries that have growing aviation industries. Read Full Story
Ireland Confident On FDI Prospects
by Jason Gorringe, Tax-news.com, London
Friday, July 7, 2017
The Irish Government's inward investment agency has said that the country is continuing to attract foreign direct investment, and stressed that Ireland must remain competitive if it hopes to maintain its position of strength. Read Full Story
Bahamas To Sign OECD Anti-Tax Avoidance Convention
by Mike Godfrey, Tax-News.com, Washington
Thursday, June 1, 2017
The Bahamas Government says it will sign up to the OECD's Multilateral Convention on Mutual Administrative Assistance in Tax Matters, joining 111 jurisdictions currently participating in the Convention. Read Full Story
IMF Voices Concerns About Polish Bank Tax
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, May 30, 2017
The International Monetary Fund has reiterated its concern that Poland's bank asset tax will undermine credit expansion and economic growth. Read Full Story
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