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If London’s banks lose their financial services passport, Ireland may be the biggest winner if relocation decisions are based on where these banks maintain subsidiaries. This is the thinking behind a confidential internal note prepared by Deusthe bank for its July 5 board meeting. According Deusthe, their competitors would most likely relocate their operations to … More Will London’s Bankers Give Up Their Swanky London Post-codes?
Just because you are a member of the European Union (EU) doesn’t mean that you have to ‘remain’ a member forever. Article 50 of the Treaty of the European Union provides for any member to withdraw from the Union in accordance with its own constitutional requirements. Step 1 Notification: According to the ‘remain’ campaign the … More How to BREXIT? A 3 -Point Plan
No mention of any government plans to make public, national registers of the beneficial owners of ‘trusts’ was made by UK Prime Minister Cameron during his address to the Open Government Partnership Summit last week. Instead he declared his intent to make national registers of the ‘real’ or beneficial owners of companies publicly accessible, and … More Going Public II: What About Trusts?
The European Commission (EC) wants the same level of access to information as Switzerland has promised the United States under its FATCA agreement. What is FATCA? :https://franhendy.com/2012/05/10/10-fast-facts-about-fatca/ No! The Swiss however remain steadfast in their opposition to extending similar treatment to its European neighbours. http://worldradio.ch/wrs/news/wrsnews/swiss-warned-on-tax-practices.shtml?34194 According to European Union (EU) Tax Commissioner Algirdas Semeta, speaking in … More FATCA Could Trigger a New Round of Tax Haven ‘Blacklisting.
Here’s what EURODAD -the European Network on Debt and Development – believes should feature on the list of New Year’s Resolutions for both developed and developing countries to remove the veil of ‘secrecy’ that shrouds the true (or beneficial) ownership of companies and other structures like trusts and foundations which, when abused by tax evaders, … More Tackling Tax Evasion: New Year’s Resolutions.
Stigmatization as a ‘tax haven’ or an ‘un-cooperative’ jurisdiction these days requires the presence of two legislative and regulatory deficiencies: (1) lack of effective exchange of information, and (ii) lack of transparency. The European Commission (EC) has now revisited the discredited work of the OECD on Harmful Tax Competition and added two other ‘confirming’ features of … More Resurrecting the Rhetoric of Unfair Tax Competition.