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Wednesday 17/3/2010
IO
News: SmartPool Enlightens Dark Traders
SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, has announced that it is launching a new service designed to help traders and other market users access, interpret and navigate the post trade data published by European 'dark trading' venues.
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Tuesday 16/3/2010
IO
News: Fund Managers Back Geithner On Regulation The Washington-based Managed Funds Association has welcomed US
Treasury Secretary Tim Geithner's call for the European Union to
engage in talks for reform of the financial regulatory system at a
global level.
Monday 15/3/2010
IO
News: Greece Wants Hedge Fund Shackles The Greek government has called on the US to increase the regulation of hedge
funds, which it holds jointly responsible for Greece’s recent problems on
the financial markets.
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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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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.
12/3 Bahamas Achieves White-Listing The Bahamas has achieved a place on the Organization for Economic Cooperation and Development's ‘white list’ following
the signing of Tax Information Exchange Agreements with the seven Nordic economies of
Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden, on
March 10.
12/3 French 'Super Authority' Launches French Finance Minister Christine Lagarde has announced that the new supervisory
authority, ACP, has now been set
up, and will act as a 'super authority' to strengthen regulation of
the country's banks and insurance companies.
11/3 Bahrain And UK Sign DTA The Kingdom of Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed
Al Khalifa, and UK ambassador, Jamie Bowden, signed
a comprehensive double taxation agreement between the two countries in Manama
on March 10.
11/3 Swiss Financial Centre Plan Unveiled Switzerland’s ruling Liberal party, the FDP, has announced its intention to adopt
a more developed and concrete strategy for the Swiss financial centre, in order
to address the challenges it faces and to proactively strengthen its
position.
11/3 Deloitte UK Offers Year-End Tax Tips Tax advisory firm, Deloitte has urged UK taxpayers to avail of all outstanding
available tax reliefs, for income tax, capital gains and inheritance tax, to
reduce their individual tax liability, before the start of the next fiscal year.
11/3 Lord Paul Relinquishes Non-Dom Status Lord Paul, a Labour member of the House of Lords and a major
financial backer of the UK's governing party, has said that he intends
to relinquish his non-domiciled status for tax purposes and pay full UK
taxes on his income.
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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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