Apr 7, 2010
An agreement has been reached by the Organization for Economic Cooperation and Development (OECD) and the Council of Europe to amend the Convention on Mutual Administrative Assistance in Tax Matters (CMAAT). On April 6th the OECD and Council of Europe released a media statement announcing that the CMAAT will be updated in order to bring [...]
An agreement has been reached by the Organization for Economic Cooperation and Development (OECD) and the Council of Europe to amend the Convention on Mutual Administrative Assistance in Tax Matters (CMAAT).
On April 6th the OECD and Council of Europe released a media statement announcing that the CMAAT will be updated in order to bring it up to currently agreed upon standards of international tax transparency. The Convention, opened for signing in 1988, is an international framework which provides facilitation of multinational exchange ... Read More
Mar 29, 2010
The European Parliament (EP) Member nations have passed a resolution committing to expand their efforts to assist poorer countries. Proposed measures included greater transparency in tax haven jurisdictions, a new tax on financial transactions, sharing of profit from the European Union Emissions Trading System (EUETS), a temporary debt repayment moratorium, and reducing remittance costs. The [...]
The European Parliament (EP) Member nations have passed a resolution committing to expand their efforts to assist poorer countries. Proposed measures included greater transparency in tax haven jurisdictions, a new tax on financial transactions, sharing of profit from the European Union Emissions Trading System (EUETS), a temporary debt repayment moratorium, and reducing remittance costs.
The European Parliament (EP) passed a tabled resolution on March 25th, which stated that it is the EU’s obligation to assist developing nations in recovering from the financial ... Read More
Mar 26, 2010
Chancellor Alastair Darling delivered the much anticipated 2010 UK Budget announcement on March 24th, introducing a raft of new taxation measures and confirming several propositions laid down in the 2009 Pre-Budget Report (PBR). As was announced in the 2009 PBR, the Chancellor substantiated the long standing expectations that taxpayers with personal incomes of above GBP [...]
Chancellor Alastair Darling delivered the much anticipated 2010 UK Budget announcement on March 24th, introducing a raft of new taxation measures and confirming several propositions laid down in the 2009 Pre-Budget Report (PBR).
As was announced in the 2009 PBR, the Chancellor substantiated the long standing expectations that taxpayers with personal incomes of above GBP 150 000 will see marginal tax rates rise to 50 percent, and a restriction in pension tax relief. Inheritance tax allowances will be frozen at GBP 325 000 ... Read More
Mar 22, 2010
The US, UK and the Cayman Islands have been found to be the most popular locations for private non-resident deposits, representing nearly USD 2 trillion of worldwide investments, according to a newly issued report. Seeing the lack of availability of compiled data on offshore holdings, the report quantifies offshore deposits on a country-by-country basis. In [...]
The US, UK and the Cayman Islands have been found to be the most popular locations for private non-resident deposits, representing nearly USD 2 trillion of worldwide investments, according to a newly issued report. Seeing the lack of availability of compiled data on offshore holdings, the report quantifies offshore deposits on a country-by-country basis.
In a report released on March 19th, Global Financial Integrity (GFI) revealed that worldwide private non-resident deposits held in secrecy jurisdictions has escalated to approximately USD 10 ... Read More
