Today, speaking to the BBC on BREXIT, Nicola Sturgeon, Scottish First Minister and leader of the Scottish National Party, made it clear that not only did she believe that Scotland could block BREXIT, she is prepared to give it a try! This breaking news has given rise to the question: Could Scotland become the new… More Could Scotland Become OFCs New BFF?
Tax diplomacy just got more complicated for Offshore Financial Centres (OFCs) following the success of the BREXIT campaign. Coupled with the prospect of another election after Prime Minister Cameron’s decision to step down in October, there hasn’t been much by way of ‘good news’ for OFCs in the last few hours. Here’s why BREXIT threatens… More Why BREXIT is Bad News for OFCs
Finance Minister Flaherty’s Federal budget predicts the current deficit in finances to continue until 2016 when he expects a surplus of 6.4 billion. Like his counterparts around the world his February 11th budgetary statement focused on job creation, innovation and infrastructure. As a member of the G8, G20 and the OECD, Flaherty also addressed international… More Canada Advances Global Tax Reform Agenda in 2014 Budget
(Christine Lagarde, Managing Director of the IMF) I suppose depending on your view of the International Monetary Fund (‘The Fund’) you could say that the last month’s release of a paper by its Fiscal Administration Department (FAD) on the role of the Fund in matters of international taxation is better late than never. It does however beg… More IMF Finally Adds Its Voice to the International Tax Debate: Will It Take Us Ten Steps Back?
Do you know why Hong Kong has now enacted legislation to allow it to start negotiating Tax Information Exchange Agreements (TIEAs)? Fear. I think Hong Kong is fearful that its OECD Phase 2 Assessment, which looked at the adequacy of its administrative machinery to exchange information (EOI) to current standards and its response to shortcomings… More What’s Driving Hong Kong’s Fear and Why OFCs Should Take Note.
…Singapore! Surprised? Nah… didn’t think so! No surprise either that Venezuela, Nigeria and Greece are at the bottom of the pile. Dynamism, according to the architects of the survey – Granton Thornton– is determined by reference to 22 indicators of which the following 5 are key: business operating environment; economics and growth; science and technology; labor… More The Most Dynamic Economy in the World is…