Nov 30, 2009
As a new and unpredicted move, the media has discussed the possibility that UBS could relocate to outside of Switzerland. Allegations have surfaced that during a speech given at a closed-door Zurich Business Club event on November 26th, Oswald Gruebel, Chief Executive of UBS, told an audience of prominent business figures that if the Swiss [...]
As a new and unpredicted move, the media has discussed the possibility that UBS could relocate to outside of Switzerland.
Allegations have surfaced that during a speech given at a closed-door Zurich Business Club event on November 26th, Oswald Gruebel, Chief Executive of UBS, told an audience of prominent business figures that if the Swiss government creates too many new regulatory demands on major banks, UBS could relocate its headquarters to a more favorable jurisdiction. The chief reason behind such a move ... Read More
Nov 27, 2009
The UK’s HM Revenue & Customs (HMRC) is expected to extend the due date for its tax amnesty program – New Disclosure Opportunity (NDO) – to January 4th. The amnesty was initiated on September 1st and the original deadline was indicated to be November 30th, 2009. The new deadline is expected to be January 4th, [...]
The UK's HM Revenue & Customs (HMRC) is expected to extend the due date for its tax amnesty program - New Disclosure Opportunity (NDO) - to January 4th.
The amnesty was initiated on September 1st and the original deadline was indicated to be November 30th, 2009. The new deadline is expected to be January 4th, 2010. Payments associated with the tax amnesty will be due by March 12th, 2010.
The HMRC estimates that there are currently 400,000 offshore bank accounts held by UK ... Read More
Nov 27, 2009
The National Assembly of Bulgaria has approved the increase on all of the country’s gambling taxes to a unified rate of 15%. On November 26th, the National Assembly of Bulgaria voted and approved amendments to the country’s Corporate Income Act, which will see levies on sports gambling, casino games, the lottery and any other gambling [...]
The National Assembly of Bulgaria has approved the increase on all of the country's gambling taxes to a unified rate of 15%.
On November 26th, the National Assembly of Bulgaria voted and approved amendments to the country's Corporate Income Act, which will see levies on sports gambling, casino games, the lottery and any other gambling activity being taxed at 15% of their annual revenue. Also, quarterly taxes on gambling machines will be set at BGN 500 (approx EUR 250) , while a ... Read More
Nov 26, 2009
According to the Tax Working Group, a New Zealand Government sponsored think tank, the country’s tax system is unsustainable. The conclusion was presented in the summary paper of the Tax Working Group’s fifth meeting, published November 25th. Growth, fairness and integrity issues – were concluded to be the primary aspects of the problem.The meeting summary [...]
According to the Tax Working Group, a New Zealand Government sponsored think tank, the country's tax system is unsustainable. The conclusion was presented in the summary paper of the Tax Working Group's fifth meeting, published November 25th. Growth, fairness and integrity issues - were concluded to be the primary aspects of the problem.The meeting summary also stated that the country's tax base needs to be broadened for these to be resolved.
The Tax Working Group is a New Zealand government initiated project, involving ... Read More
Nov 25, 2009
The tax burden, calculated as a ratio of tax receipts to Gross Domestic Product (GDP), faced by member countries of the Organization for Economic Cooperation and Development (OECD) fell by 0.5% in 2008. According to the OECD’s “Revenue Statistics: 2009 Edition” report, published November 24th, the tax burden by its members has fallen as the [...]
The tax burden, calculated as a ratio of tax receipts to Gross Domestic Product (GDP), faced by member countries of the Organization for Economic Cooperation and Development (OECD) fell by 0.5% in 2008.
According to the OECD's "Revenue Statistics: 2009 Edition" report, published November 24th, the tax burden by its members has fallen as the worldwide financial crisis tolls global economies. The aggregate tax receipt-to-GDP ratio across the surveyed OECD nations in both 2007 and 2006 was 35.8%. Based on current provisional ... Read More
