IO Daily
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Friday 27/8/2010
IO
News: No Regrets, Say UK Expats
Despite a belief that a significant number of British retired expatriates are regretting their decision to retire abroad and are planning to return to the UK, retiring abroad is very much still a popular decision according to the third annual NatWest International Personal Banking Quality of Life Report.
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Wednesday 25/8/2010
IO
News: Abbey International Offering 4.25% Return
Abbey International (Jersey) has reported strong levels of interest in its latest
round of medium-term fixed rate accounts over both three- and five-year terms.
The five-year account offers clients a return of 4.25% gross/ AER over five years.
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Tuesday 24/8/2010
IO
News: BOSI Pulls Out Of Ireland
Lloyds Banking Group has announced that it will decamp its Bank of Scotland
operations in Ireland, operated under its subsidiary Bank of Scotland (Ireland)
Limited, by the end of this year, transferring existing business
to the UK.
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Friday 13/8/2010
IO
News: Swiss Bank Expands In Asia
The Swiss banking group SYZ and Co is continuing its expansion in Asia by extending the operations of its Hong Kong office, following a number of other Swiss institutions attempting to tap into Asia's rapidly-growing pool of wealthy individuals.
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Thursday 12/8/2010
IO
News: Hedge Funds Return To Form
Hedge fund returns, as measured by the major hedge fund indices, turned positive last month after several months of flat to negative performance for the industry, although the sector failed to capitalize on a strong advance in the equity markets.
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Wednesday 11/8/2010
IO
News: UK House Prices Fall
More chartered surveyors reported a fall than a rise in house prices for the first time since July 2009 as demand from purchasers slipped back and the number of properties coming to the market continued to increase, says the latest Royal Institute of Chartered Surveyor's UK Housing Market survey.
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Tuesday 10/8/2010
IO
News: Money Flows To Asian Hedge Funds
Hedge fund investors developed a central focus on Chinese foreign exchange policy in the second quarter of 2010, as the Chinese central bank took steps toward increased flexibility of its currency policy, according to Hedge Fund Research.
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Friday 6/8/2010
IO
News: You Can't Take It With You
You can't take it with you, as the saying goes, which is why the world's two richest men, Warren Buffet and Bill Gates, are inviting America's wealthiest families to pledge substantial chunks of their riches to good causes, either in life or after their death.
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Wednesday 4/8/2010
IO
News: Europe's Banks Back To Health?
Despite the return to profitability of some of Europe's leading banks, one hedge fund boss is betting against five of the region's banks in the belief that all is not as rosy as it seems in the banking garden.
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Tuesday 3/8/2010
IO
News: UBS Profits Exceed Expectations
Swiss banking giant UBS has boosted the banking sector in Europe by unveiling
pre-tax profits for the second quarter of 2010 of CHF2.61bn (EUR1.9bn), marking a better
overall performance than expected, and overshadowing several minor disappointments.
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Monday 26/7/2010
IO
News: Clean Technology Sector In 2010 VC Boom
Bolstered by a resurgent boom in venture capitalism in 2010, investment in the
clean technology sector
saw a 107% increase in dollars over the first quarter to USD1.5bn, marking the
largest quarterly investment ever reported for the sector.
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Wednesday 21/7/2010
IO
News: Global Job Market Carries Health Warning
The global recession has led to a steadily increasing stream
of expatriates of all nationalities worldwide. However, recent research suggests that more than half of those working overseas do not have adequate health insurance coverage.
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Tuesday 20/7/2010
IO
News: Pension Funds Still Below Pre-Crisis Levels
While pension funds have strengthened with the financial market rebound, data from the Organization for Economic Cooperation and Development shows that pension fund assets in most countries have yet to recover to pre-crisis levels. Public pension reserve funds, on the other hand, have now fully made up for their crisis-related losses due to more conservative investment strategies.
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Monday 19/7/2010
IO
News: Private Banking Sector Rebounds
The wealth management industry is undergoing a rebound as private banking assets under management recovered strongly in 2009, although the industry is still walking something of a tightrope with wealthy clients reluctant to invest new money.
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Friday 16/7/2010
IO
News: FoHFs Fall Out Of Favour
A Preqin survey of 50 institutional investors in hedge funds reveals that investors are re-evaluating their fund of hedge funds investment strategies and seeking to commit to single manager funds.
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Tuesday 13/7/2010
IO
News: REITS Outperform Markets
The US real estate investment trust industry significantly outperformed the broader
equity market in the first half of 2010, despite global economic shocks that depressed the
market in the second quarter.
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Network Alternative Investment Related News
> Archive
2/9 DIFC Announces Strong Growth In 2010 Despite the economic downturn, the Dubai international Financial Centre is continuing to attract companies form all over the world, especially from Asia.
2/9 IRS Loses Revenue From Foreign Income Claims According to a report released by the United States Treasury Inspector General for Tax Administration, the Internal Revenue Service lost an estimated USD90m in revenue
in the 2008 tax year because of erroneously claimed foreign earned income tax
exclusions.
2/9 Landmark Nasdaq Listing For Mauritius Firm Leading Indian online travel company, MakeMyTrip Limited has undertaken a USD70m
Initial Public Offering on the Nasdaq Global Market, making it the first Mauritius-incorporated
company to list on a major New York stock exchange.
2/9 Hong Kong, Russia Consider DTA Hong Kong’s Chief Executive, Donald Tsang, in Moscow for a three-day visit, met
with various members of the Russian government, including President Dmitry Medvedev,
as well as business leaders to carry forward a growing bilateral dialogue on finance,
taxation and investment matters.
2/9 SEC Cautions Credit Rating Agencies The United States Securities and Exchange Commission has issued a
report cautioning credit rating agencies about their ratings conduct and the importance
of sufficient internal controls over the policies, procedures, and methodologies
the firms use to determine credit ratings.
2/9 Obama's Tax Reform Panel Issues Report The US President’s Economic Recovery Advisory Board,
chaired by for Federal Reserve Chairman Paul A. Volcker, has issued a report on options for changes in the
current tax system to achieve three broad goals: simplifying the tax system; improving
taxpayer compliance with existing tax laws; and reforming the corporate tax system.
2/9 IRS Issues Guidance On FATCA The United States Treasury and the Internal Revenue Service have stated
their intent to issue guidance on the reporting requirements imposed on foreign
financial institutions by the enactment of the Foreign Account Tax Compliance
Act on March 18, 2010 within the Hiring Incentives to Restore Employment Act.
2/9 UAE Nears Completion Of New Companies Law The United Arab Emirates’ Minister for the Economy, Sultan Bin Saeed Al Mansouri has told business leaders that the comprehensive rewrite of companies legislation is in its final stages.
2/9 Jersey Foundations Attract Growing Interest Just over a year since they were launched, Jersey Foundation structures are continuing to receive a steady flow of interest, according to an offshore legal expert.
2/9 EC Consults On Cross-Border IHT Issues The European Commission has announced the launch of a consultation on tackling
cross-border inheritance tax obstacles within the European Union.
1/9 Singapore Attempts To Rein In Property Market Amidst fears that the property market could be overheating, Singapore’s
government has announced immediate measures aimed at maintaining price stability,
while also saying that it will continue to monitor the situation closely and will
introduce additional measures if required later.
1/9 Jersey's Corporate Tax Consultation Extended An extension has been announced to the consultation period in respect of the review of Jersey’s 0/10% business tax regime.
1/9 India, Switzerland Sign Tax Information Exchange Accord Swiss federal councillor and foreign minister, Micheline Calmy-Rey, has met with Indian finance minister Pranab Mukherjee in New Delhi to sign a protocol to revise the two countries’ double taxation agreement.
1/9 Indian Cabinet Approves Lowering Of Direct Taxes The Indian Cabinet has given the go ahead for the Direct Taxes Code Bill, which will simplify and rationalize both corporate and personal income taxes.
1/9 HK Releases Consultation Results On Draft Companies Bill Hong Kong’s government, releasing the conclusions of the first phase of
consultation on the draft of the Companies Bill, has said that it is prepared
to adopt a number of proposals regarding the issues highlighted for consultation.
31/8 Zurich Insurance, SocGen Fall Foul Of The UK FSA The Financial Services Authority has announced the imposition of a record
fine, of GBP2,275,000, on the UK branch of Zurich Insurance Plc (Zurich UK)
for failing to have adequate systems and controls in place to prevent the loss
of customers’ confidential information. The fine is the highest levied
to date on a single firm for data security failings.
31/8 Goldman Tries 'Foreign-Cubed' Defence Against Hedge Fund The investment bank, Goldman Sachs, is attempting to use a US Supreme Court’s
previous ruling on so-called ‘foreign-cubed’ securities cases to have
an Australian hedge fund’s USD1bn claim thrown out of the American courts.
31/8 Netherlands, Japan Sign Tax Treaty On August 25, 2010, a new tax treaty between the Netherlands and Japan was signed in Tokyo.
30/8 Islands Seek Leadership For Brussels Office The Channel Islands, Guernsey and Jersey, have announced that they are seeking
to recruit high-calibre representatives for the roles of 'Director of
European Affairs' and 'European Affairs Adviser' for the soon-to-be-opened
Channel Islands’ Brussels office.
31/8 Personal Tax Proposals Disliked By Jersey Businesses Those working within Jersey’s finance industry would prefer greater cuts
in public spending before increases to personal taxes are considered, according
to a Jersey Finance survey.
30/8 IRS To Drop UBS Lawsuit The US Internal Revenue Service has said that it may drop a lawsuit against Swiss bank UBS after the Swiss government announced on August 26 that its examination of approximately 4,450 UBS clients accused of evading US taxes is complete.
30/8 German Cabinet Adopts Bank Levy The German cabinet has adopted the coalition government’s draft restructuring
law, providing crucially for the introduction of a bank
levy in Germany.
30/8 FSA To Review Trading Regulations The UK Financial Services Authority has published a discussion paper
on fundamental changes that are necessary with respect to the regulation of trading activities.
27/8 Tax Changes To Boost Turkish Derivatives Trade Çetin Ali Dönmez, chief executive of TurkDex, Turkey’s derivatives exchange, expects turnover on the exchange to rise significantly after the banking and insurance transaction tax and withholding tax on derivative products are scrapped this fall.
27/8 White House Defends Tax Policies A speech in Cleveland by the Republican minority leader in the United States House
of Representatives, John Boehner, attacking the Obama administration’s tax
policies, provoked an immediate response from the White House and Vice-President
Joe Biden.
27/8 US Home Sales Plunge After Tax Credit Expiry Existing home sales in the US were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors.
27/8 UK Defined Benefit Schemes At Risk From Tax Plans Consultancy firm Mercer has expressed concern over the UK coalition government’s revised proposals for restricting tax relief on pension savings.
26/8 HK Changes Tax Practice On Prepayments Hong Kong’s Inland Revenue Department has issued a new amendment to
its practice notes to clarify, in the situation where a profits tax return is
filed by a foreign company, what accounting standards are acceptable for the preparation
of financial statements.
25/8 NZ Savings Working Group Given Wide Brief New Zealand’s Finance Minister, Bill English, has announced that an independent
savings working group will have a wide brief, including the impact of the tax
system, to consider how the country’s national savings can be improved.
26/8 South Africa Introduces Tax Amendment Bills South Africa’s Finance Minister, Pravin Gordhan, has tabled before parliament
two taxation amendment bills which, as amended after going through a consultation
process, give effect to the tax proposals announced in the 2010 budget, announced
in February.
26/8 UK Taxpayer Wins Key IHT Case The UK tax authority, HM Revenue and Customs has been refused permission to appeal in the case against the decedents of Lord Balfour with respect to inheritance
tax to be paid on the estate, a determination that will have implications for future cases which are similar in
nature.
26/8 Lenihan Plans Withdrawal Of Bank Guarantees Irish Finance Minister, Brian Lenihan has warded off calls from Irish
banks AIB and Anglo for an extension to deposit guarantees due to expire in September. Both banks are receiving medium-term state support to shore up their balance sheets.
26/8 Switzerland, India To Hold Tax Talks Swiss Foreign Minister Micheline Calmy-Rey is due to hold talks in New Delhi on
August 30 with representatives of the Indian government, with discussions focussing
on bilateral issues such as finance, science and regional and international themes.
25/8 Jersey Firm Lists On AIM Channel Islands law firm Carey Olsen has announced its advisory role in Masawara
plc’s listing on the Alternative Investment Market of the London Stock
Exchange.
24/8 Future Brightening For Swiss SMEs A survey recently undertaken by Swiss banking group, Credit Suisse, in conjunction with the Centre for European Economic Research (ZEW) has shown that there is increased optimism this month amongst the business community and the wider population with regard to the future of the Swiss economy.
25/8 Cayman Concludes Banking Pact With US The Cayman Islands Monetary Authority has announced that it has formalized
procedures with the four main United States banking regulators for the exchange
of supervisory information relating to banks and banking institutions that operate
in both territories.
25/8 Guernsey Consults On Fee Increases The Guernsey Financial Services Commission has set out proposed increases in certain fees payable by licence holders to cover the rising cost of regulation.
25/8 France To Lure London Banks With Tax Breaks UK investment banks have been offered long-term tax breaks in exchange for relocating to France.
24/8 Uruguay Stays On OECD Grey List Uruguay has reached agreement with India on an information exchange agreement, but for the present will stay on the grey list of the Organisation for Economic Co-operation and Development, since seven of its 12 agreements, including the one with India, still await signature.
25/8 Full Steam Ahead For German Bank Tax Determined to press ahead swiftly with plans to introduce a compulsory bank levy
in Germany, the German cabinet is due to meet shortly to discuss its long awaited
restructuring law.
24/8 France To Axe EUR10bn In Tax Breaks Following a recent meeting held at the Fort of Brégançon in the
Var region of France, French President Nicolas Sarkozy unveiled plans to abolish
EUR10bn in tax breaks in the autumn.
24/8 Italy Attacks Stock Lending Tax Scheme Amongst its discoveries this year of various schemes devised by Italian companies
and individuals to evade taxes, the Italian Revenue Agency has now disclosed another
in the form of cross-border stock lending.
24/8 China Issues Rules On Foreign Investment Disputes China’s Supreme People’s Court has issued a series of rules
which should clarify certain legal provisions for cases involving foreign-funded investment companies, and which went into effect
on August 16.
23/8 South Africa Plans Islamic Finance Tax Changes The global firm of accountants, Grant Thornton, has said that Islamic investors
and financiers are likely to be recognized by way of a new addition to South
Africa’s Income Tax Act.
23/8 DAFZ Continues Explosive Expansion The Dubai Airport Freezone, a tax neutral zone in the vicinity of Dubai International Airport, has reported that business sales
increased 63% during the first half of 2010 compared to the same period last year.
23/8 HMRC Increases 'Aspect' Enquiries A significant increase in personal tax 'aspect' enquiries confirms HM Revenue and Customs adopting a more targeted approach.
20/8 Canadian Credit Card Industry Code Takes Effect Canadian Minister for Finance, Jim Flaherty noted on August 16 the entry into
force of the Code of Conduct for the Credit and Debit Card Industry.
20/8 Panama Ratifies Canadian FTA The Panamanian government has announced that the Cabinet Council on August 17
ratified the draft Law on the Free Trade Agreement between Panama and Canada,
as well as bilateral cooperation agreements on labor and the environment.
20/8 HST Depresses Canadian Housing Market In July It has been suggested that the introduction of harmonized sales tax in British Columbia and Ontario has contributed to a sharp fall in home sales in Canada as homebuyers brought purchases forward.
20/8 Jersey Consults On Company Fee Increase Jersey’s Minister for Economic Development, Senator Alan Maclean, has issued a
consultation on the level of annual company fees in Jersey.
Alternative Investment News Archive |
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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
| |
| 02/09 New
Lowtax Editor Column, by Kitty Miv |
| 01/09 International
Privacy and Security, Investors Offshore special feature |
| 31/08
Lowtax Belize, annual update |
| 27/08
IRS To Drop UBS Lawsuit, Tax-News.com |
| 26/08 New
Lowtax Editor Column, by Kitty Miv |
| 25/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 24/08
Uruguay Stays On OECD Grey List, Tax-News.com |
| 23/08 Don't
Forget Doha, And I Don't Mean The Tennis, Jeremy Hetherington-Gore
blog entry |
| 20/08
Ireland Plans Social Security Overhaul, Tax-News.com |
| 19/08 New
Lowtax Editor Column, by Kitty Miv |
| 18/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 17/06
Lowtax Cayman Islands, annual update |
| 16/08
Germany's Fiscal Court Seeks Property Tax Reform, Tax-News.com |
| 13/08 Jurisdiction
Special Focus: Antigua and Barbuda, Investors Offshore special feature |
| 12/08 New
Lowtax Editor Column, by Kitty Miv |
| 11/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 10/08 Brazil
Cuts Import Tariffs, Tax-News.com |
| 09/08 Ukraine
Tax Code Published, Tax-News.com |
| 06/08
France Plans Reform Of Property Tax Credit, Tax-News.com |
| 04/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 02/08 Islamic
Finance - The New Mainstream Alternative, Investors Offshore special
feature |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK
Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu , Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy
Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-
News.com Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
|
06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 28/06
Lowtax Dubai, annual update |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
|
08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
 |
| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
| |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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