The world is still suffering from an economic slump, but confidence and business outlook across the globe is beginning to see a marked improvement. According to research by international law firm Eversheds, published on December 14th, there is a resurgence in business confidence and future outlook across key global economic centres, and the Eastern markets are showing the most significant improvements. The report engaged 600 senior executives to show the effect of the economic downturn and its results on their confidence in London, ... Read More

The first opinions and reviews have begun to be voiced, both internationally and within the UK, discussing details of a new tax on banking sector bonuses. As previously reported, on December 9th the Chancellor Alistair Darling in his Pre-Budget Report revealed that a new levy of 50 percent, will be charged on discretionary bonuses exceeding £25,000. The extraordinary levels of bonuses in the banking industry, especially during times of financial turmoil has already been the subject of political and economical disputes for ... Read More

Based on an improvement in the financial sector of the world economy and increasing international fiscal pressure, the Government of the Republic of Vanuatu is forecasting GDP growth of 4.6 percent for 2010. On December 8th , Sela Molisa, Finance Minister of Vanuatu, in his speech presenting 2010 national budget, announced that his country will see continued economic growth in 2010. According to the latest statistics, GDP growth in Vanuatu in 2009 had slowed to 3.8 percent, compared to 6.3 percent of ... Read More

On December 9th, Alastair Darling, Chancellor of the Exchequer, gave the 2009 Pre-Budget Report (PBR), an economical forecast required to be delivered at the end of each year by the HM Treasury to the the country's Parliament. This year, cutting the country's budget deficit was the key priority, clearly indicated by the Chancellor and by debates raised by the PBR. Reduction of Government spending in select non-priority areas, and raising taxes on middle and high-income earners are the financial engines which stand ... Read More

Within the week ending November 11th, the Greek Finance Ministry will bring forwarx six Double Taxation Avoidance Agreements (DTA) for ratification in the country's Parliament. Among the presented agreements, the DTA with Canada is the most significant and unique, being a product of almost 25 years of continued bilateral negotiations. Within the standard stipulations characteristic for DTAs, the most attention has been drawn to the provisions regulating the tax treatment of Canadian pensions received by Greek nationals living outside of Canada. Taking into ... Read More