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Monday 22/3/2010
IO
News: Non-Cash Assets To Plug FTSE Pensions
Significant numbers of the UK's 100 largest listed companies are looking to directly or indirectly fund their pension scheme deficits with non-cash assets, such as real estate, intellectual property or copyright.
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Friday 19/3/2010
IO
News: Dubai World To Repay Debt Investor confidence in debt-ridden Dubai will be bolstered by an announcement
from Chairman of the Dubai Supreme Fiscal Committee, Ahmed Bin Saeed Al Maktoum
that Dubai World will offer a ‘fair and acceptable plan’ to its
creditors; likely to be full repayment, as part of the restructuring of its
USD26bn debt.
Thursday 18/3/2010
IO
News: EU Urged To Fine Tune Fund Risk Ratings Moves by European regulators to provide
a standard risk rating for investment funds needs further refining to
make them truly effective for consumers, according to representatives
of the UK insurance and investment fund industry.
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Personal Equity Investment In 2010:
Not Just For Expats... March
2010
Under this particular heading of equity investment we will deal with
direct, personal investment into publicly-quoted equities, other than
through conventional stock exchanges, whether from an onshore or offshore
base, and whether by an individual, or through a corporate vehicle or
a trust. We will cover direct equity purchase through a dealer, spread
betting, contracts for differences, and hedge funds insofar as they specialize
in very directed equity investment...
Read: Personal
Equity Investment In 2010: Not Just For Expats...
Dubai - A
Stately Business Dome Decreed
February 2010
For decades to come, people will point to
Dubai's 200-storey, 828-metre Burj Khalifa tower,
the tallest in the world, as representing both
the peak and the nadir of the city-state's adventurous
grasp for regional leadership in a startling range
of sectors: real estate, shipping, commodities
trading, equities, Islamic finance, e-commerce,
air transport and banking...
Read: Dubai
- A Stately Business Dome Decreed
Hedge Funds
Resurgent February
2010
Hedge funds often boast that their investment
strategies flatten out the more extreme gyrations
of the markets; but they weren't proof to the
financial tempests of 2008 and 2009, although
recent figures for 2009 show that the industry
as a whole has largely recovered its poise...
Read: Hedge
Funds Resurgent
Being An Expat In 2010
- A Financial Primer
January 2010
As you'll see from our guide, the offshore
options for you as an expatriate are many and
varied, and there is something for any situation
and pocket...
Read: Being
An Expat In 2010 - A Financial Primer
Jurisdiction Special Focus:
Cyprus January
2010
In this feature we take a fresh look at Cyprus
and whether it is a good destination for your
assets, career expats and Retirees...
Read: Jurisdiction
Special Focus: Cyprus
Health & Life... Worldwide
- Global Insurance For Expats
January 2010
Insurance is one of those things that everyone
hopes they'll never need, and as a result, a frightening
number choose to bury their heads in the sand,
hoping that their luck will hold. However, by
far the most sensible solution for those not willing
to trust to fate, is to take out some form of
insurance, to protect themselves and their dependants
should the worst happen...
Read: Health
& Life... Worldwide - Global Insurance For
Expats
Choosing Your Jurisdiction
January
2010
So you have decided that offshore is the
way forward. The three most pressing concerns,
then, are what type of investment you feel is
right for you, where you choose to invest or bank,
and how involved you are prepared to be in offshore
life...
Read: Part
One - Types Of Offshore Investment Vehicle And
The Main Jurisdictions
Read: Part
Two - Getting It And Keeping It. The How, Why,
When And Where Of Offshore Investing.
The EU Savings Tax Directive:
Cometh The Hour, Cometh The Man?
December 2009
We take a look at the current state of the
EU's Savings Tax Directive, examining how it will
affect investors both now and in the future.
Read: The
EU Savings Tax Directive: Cometh The Hour, Cometh
The Man?
Jurisdiction
Special Focus: Gibraltar November
2009
In the final analysis, is Gibraltar a good location for your assets,
yourself, your family, your boat, or (e) all of the above? Our guide
reveals that it could be just what you're looking for.
Read: Gibraltar,
The Rock, 2009
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Jurisdiction Special Focus:
Hong Kong March 2010
In geographical terms, the peninsula and collection of islands
in south eastern China which make up the territory of Hong Kong
are a little over 400 square miles in size, but in economic terms,
the former British colony, which in 1997 was handed back to greater
China, packs a serious punch on the world stage and can claim to
be the globe’s third largest financial centre after New York
and London, and the ninth largest economy in the world...
Read: Jurisdiction
Special Focus: Hong Kong
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| Network News |
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19/3 Nigerian Bond Tax Waivers Extended In order to assist the efforts being made by the Central Bank of Nigeria and Nigeria’s
Securities and Exchange Commission to develop a securities market with a broader
range of issuers, the federal government has extended the existing tax exemptions
for bonds issued on the Nigerian market.
22/3 UK Investors Fear CGT Increase Many investors have taken action to sell their assets amid fears that the Chancellor will raise capital gains tax rates in next week’s Budget. The rumours have prompted investors to sell shares and property in anticipation that the current CGT rate of 18% will be increased by Alistair Darling.
19/3 Liechtenstein Disclosure Facility Failing Six months since its launch, the UK's Liechtenstein Disclosure Facility can
only have had limited success, as findings from international audit, accounting
and business services firm BDO show limited participation.
18/3 Panama Cuts Corporate Tax Panama’s President, Ricardo Martinelli signed on March 15 a bill
to reform Panama's Tax Code, adopting several tax measures to lower the company tax burden, ensure fiscal sustainability,
and simplify the tax system.
18/3 Caymans Welcome Miller Recommendations The Cayman Islands government has welcomed the general thrust of the
conclusions of the Miller Report, particularly its main recommendation
that the introduction of direct taxation in the jurisdiction should be
avoided.
18/3 Ireland 'Safe' From US Tax Plans Irish Prime Minister, Brian Cowen has said that companies based in Ireland
can expect to face no sanctions from the United States, despite the Obama administration's plans to tighten the tax treatment of multinationals with operations in lower tax jurisdictions such as Ireland.
17/3 UBS Confirms Non-US Tax Information Requests Within its annual report for 2009, the Swiss bank, UBS, has disclosed that, following
its settlement agreement with the United States Internal Revenue Service, it has received requests for information from a number of other jurisdictions
relating to its provision of cross-border wealth management services.
16/3 Tax Regularisation Explained For Italian Expatriates In a recently-issued circular, the Italian Revenue Agency has given instructions
for Italians working outside of Italy, whether for state institutions or private
companies, who wish to regularize the non-declaration of any funds they hold abroad.
16/3 Mexican Film Tax Breaks Announced Mexican President Felipe Calderón has launched an initiative, called the 'High Impact Support For Film and Audiovisual Industry Program' to make Mexico the 'capital of Latin American cinema', during a visit to the Baja Studios in the state of Baja California.
16/3 FASB Issues Standards Update In an attempt to address queries about the intended breadth of the embedded
credit derivative scope exception, the US Financial Accounting Standards Board has issued an Accounting Standards Update on Derivatives and Hedging.
15/3 VCT Benefits Highlighted New research published by the Association of Investment Companies (AIC) has highlighted the role played by venture capital investment in the development of many of the UK's small businesses, and has called on the government to maintain its support for the sector.
16/3 Hong Kong Property Taxes Reviewed Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget
speech at the Joint Business Community Luncheon on March 12 and, in particular,
reviewed the tax measures taken to increase the transaction cost of property speculation
so as to reduce the risk of a property bubble being created.
15/3 Innovation Ireland Report Released The Innovation Taskforce report launched on March
11 by Irish Prime Minister Brian Cowen, has recommended a range of measures
designed to help ensure that the Ireland of the future will be an innovative,
high-value and export led economy.
12/3 Orascom Loses Algerian Tax Appeal Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary,
Orascom Telecom Algérie, has received a rejection to its appeal,
made in December last year, against the notice for taxes and penalties it had
received from the Algerian tax authorities the month previously.
15/3 Jersey Riding Out Onshore Storm Jersey will overcome the evolving challenges being faced by offshore international
financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants
at a Breakfast Briefing in London.
15/3 Germany Approves Liechtenstein TIEA Germany’s Cabinet has recently approved a bill pertaining to the bilateral
tax information exchange agreement with Liechtenstein.
15/3 Baucus Seeks Trade Preference Reform Senate Finance Committee Chairman Max Baucus is leading
efforts for reform of US trade preference programs accorded to
developing countries.
15/3 BVI To Review Taxes And Fees British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory
will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.
12/3 Swiss-German Tax Talks Resume During a recent visit to Berlin, Switzerland’s State Secretary Michael
Ambühl, Head of the State Secretariat for International Financial Matters in the Federal Department of Finance, met with representatives of
Germany's Federal Ministry of Finance and Federal Chancellery to exchange ideas
on current financial and tax policy issues.
12/3 MEPs Push EU Tobin Tax In a recently adopted resolution, the European Parliament has emphasized the
need to develop plans for a global tax to discourage excessive risk-taking by
financial institutions and to ensure that the financial industry pays for damage
caused by the financial crisis.
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| Your Views |
| Best offshore banking country? |
Hi,
I live and pay tax in the UK. I have non-salary remuneration coming to me from freelance work from other countries. Can anyone recomend a good international bank account that offers visa or mastercard debit, in a jurisdiction that is safe from the savings tax directive or other reporting duty involving the UK? Ideally the account would offer decent interest too, and no tax on this interest! It would also be good if it could be managed online.
Just to be clear, I fully intend to fulfil my duty to the UK tax authorities, and declare this income. I simply have no faith in the UK banking system and its relationship with the UK government, or their Indian call centres. I also intend to travel and emigrate once I have a decent purse.
Thanks for any help or suggestions. Simon |
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| Health care package |
| I've been offered a position at my current UK employer's associate company in Dubai for 2 years. The package looks quite good but as this is my first overseas/expat experience I'm not sure if the healthcare portion is okay. My wife and our two young kids will be with me and the package only appears to include 75% basic cover with me having to top it up. Is this a standard sort of deal?angus |
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| US resident seeking...not to be! |
I'm a US resident seeking to terminate my residence in the next coupe of years - thinking of moving to sunnier shores. Anyone got any recommendations (young, free and single and moderately independently wealthy, if it helps!)
Also, how long will my association (for tax purposes) with the US last? Please tell me not forever...!Rick |
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