International News
Cameron Urges On Crown Dependencies Over Tax Info Exchange
Tuesday, 21 May 2013"There is no point in dealing with tax evasion in one country if the problem is simply displaced to another," David Cameron has claimed in a letter to the leaders of the UK's Crown Dependencies and Overseas Territories.
Read full storyLuxembourg May Take Legal Action Over FTT
Wednesday, 22 May 2013The Luxembourg Finance Ministry has recently issued a statement clarifying the Grand Duchy's position on the planned introduction of a financial transactions tax in 11 European Union member states, within the framework of enhanced cooperation.
Read full storyEU, Switzerland Ink Competition Cooperation Agreement
Tuesday, 21 May 2013The European Union and the Swiss Confederation have signed a deal to strengthen co-operation between their respective competition authorities.
Read full storyCourt Upholds Singapore Tax Revaluation
Friday, 17 May 2013Following a Court of Appeal ruling in its favor at the Glengary case, and media suggestions that the ruling could cause uncertainty for property developers, the Inland Revenue Authority of Singapore pointed out that the case in point was not the first time, nor will it be the last, that it has taken action to reassess the annual value of land that is under development.
Read full storyGermany's NRW Gets Tough On Tax Avoidance
Friday, 17 May 2013The German State of North Rhine-Westphalia has announced plans to set up a working group within the Finance Ministry tasked with developing effective measures to combat tax avoidance, by closing legal loopholes.
Read full storyPortugal Takes Stock Of OECD Tax Recommendations
Monday, 20 May 2013Portugal's Prime Minister Pedro Passos Coelho has underlined the importance of reducing the tax burden in Portugal, before pressing ahead with vital tax changes recommended by the Organization for Economic Cooperation and Development in its latest report.
Read full storyScotland Urged To Push For Own APD Regime
Friday, 17 May 2013Scotland is expected to push for the devolution of the UK's Air Passenger Duty, to allow the nation to reduce the tax burden on aviation ahead of the Ryder Cup, to be held in Perthshire, and the Commonwealth Games, to be hosted in Glasgow next year.
Read full storyAustria's Spindelegger Slams 'Faymann's Taxes'
Tuesday, 21 May 2013During his keynote address at the Austrian People's Party conference, Austria's Vice Chancellor Michael Spindelegger vehemently rejected what he referred to as the "Faymann taxes," namely Chancellor Werner Faymann's plans to introduce wealth taxes in Austria to the tune of around EUR4.5bn (USD5.8bn).
Read full storyChina Reacts To EU Mobile Telecom Probe
Thursday, 23 May 2013At a press conference, the Chinese Ministry of Commerce spokesman, Shen Danyang, has expressed indignation at the prospective European Union anti-dumping and anti-subsidy investigations into imports of mobile telecommunications network equipment from China.
Read full storySwiss Cantons Reject 'Flawed' Inheritance Tax Initiative
Friday, 24 May 2013Switzerland's Conference of Cantonal Finance Directors has vehemently rejected the people's initiative, calling for a reform of inheritance tax, to finance the country's social security and pension fund.
Read full storyUS Again Leads Global Fund Investor Experience Ranking
Wednesday, 22 May 2013Morningstar, Inc. has released its 2013 Global Fund Investor Experience report, which evaluates investor-friendly practices in fund markets across North America, Europe, Asia and Africa, and in which the United States is again assessed as the best market for fund investors based on criteria such as investor protection, transparency, fees, taxation and investment distribution.
Read full storyItalian Tax Reforms Have To Wait 100 Days
Tuesday, 21 May 2013By the end of the Cabinet meeting on May 17, the new Italian Government, led by Enrico Letta, had only been able to decide on a postponement of the interim payment of the local property tax, with other tax reforms now being promised within the next 100 days.
Read full storySwitzerland, US On Brink Of Banking Secrecy Deal
Thursday, 23 May 2013Swiss Finance Minister Eveline Widmer-Schlumpf has confirmed that the Confederation is close to brokering a deal with the US, aimed at resolving the longstanding tax dispute between the two countries, and finding an "acceptable" solution to deal with the issue of US taxpayers' undeclared income already held in Swiss banks.
Read full storyLuxembourg, Austria Sanction EU Negotiating Mandate
Monday, 20 May 2013Luxembourg's Finance Minister Luc Frieden has confirmed that Luxembourg and Austria are included in the mandate allowing the European Commission to negotiate an automatic exchange of information with five third states.
Read full storyAfDB To Help African Countries Exploit US AGOA
Thursday, 23 May 2013The African Development Bank has announced plans to help diversify African exports to the United States through the better utilization of African Growth and Opportunity Act preferences by its beneficiary countries.
Read full storyVan Rompuy Outlines Ecofin Meeting Agenda
Thursday, 23 May 2013Combating tax fraud and evasion "has become essential for the political and social acceptability of fiscal consolidation," European Council President Herman Van Rompuy has argued in a letter to finance ministers.
Read full storyBelgium's 'Biztax' Opens For 2013 Corporate Filing
Wednesday, 22 May 2013The Belgian Finance Ministry has announced that businesses are now able to file their 2013 corporate tax returns online, via the "Biztax" application.
Read full storyGerman Bundesrat Backs Tax Evasion Bill
Tuesday, 21 May 2013With its red-green opposition majority, the German Bundesrat, or upper house of parliament, has adopted a bill urging the Federal Government to introduce tougher and more effective measures with which to combat tax evasion, and to ensure greater tax justice in future.
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