| Europe Endorses 'Fiscal Compact'
01/02/2012 |
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During the latest informal meeting of the European Council in Brussels, with its
emphasis on growth-friendly fiscal consolidation and job-friendly economic growth,
25 of the 27 member states united on and endorsed plans for a fiscal compact,
a treaty on stability and convergence in the Economic and Monetary Union.
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| US Senate Studies Options On 'Tax Extenders'
02/02/2012 |
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During a recent hearing, the United States Senate Committee on Finance looked
at the group of tax provisions requiring frequent annual renewal, commonly called
the 'tax extenders', in the context of seeking longer term solutions
and, thereby, providing tax certainty.
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| UK To Overhaul Executive Remuneration
31/01/2012 |
UK shareholders will be given more powers to block excessive pay proposals and payments for failure under new proposals from the Business Secretary, Vince Cable.
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| Sales Tax Rise 'Will Not Solve Japan's Fiscal Problems'
27/01/2012 |
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In a study of fiscal trends in the country, the Cabinet Office has disclosed that
the Japanese government would still not achieve its longer-term deficit reduction
targets, even if its proposed consumption tax increases are able to be put into
effect.
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| Hong Kong Reduces Taxes To Support Growth
02/02/2012 |
Hong Kong’s Financial Secretary, John C Tsang, has unveiled a 2012/13 Budget
which proposes a wide range of tax concessions aimed at supporting businesses
and individuals, who face a possible global economic slowdown.
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| Danish Presidency's Fiscal Priorities Don't Include FTT
27/01/2012 |
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Denmark’s Economic and Interior Affairs Minister Margrethe Vestager
recently explained to the European Economic and Monetary Affairs Committee that
the key priorities for the Danish Presidency of the European Union Council of
Ministers are increasing surveillance of budgetary policies, and the economic
and fiscal surveillance of eurozone member states facing serious financial instability.
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| Sarkozy Unveils Long-Awaited Fiscal Strategy
31/01/2012 |
With the presidential elections fast approaching, French President Nicolas Sarkozy
has recently unveiled details of a last salvo of reform measures, designed to
boost employment and reduce the deficit, including plans
to increase by 1.6% in October the standard rate of value-added tax in France, and proposals for a financial transactions tax.
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| US Treasury Aims To Lower FATCA Burdens
30/01/2012 |
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During her remarks at the New York State Bar Association Annual Meeting, Acting
Assistant Secretary for Tax Policy, Emily McMahon, indicated that regulations
for the implementation of the provisions of the Foreign Account Tax Compliance Act are in the final stages of clearance at the United States Treasury and
the Internal Revenue Service.
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| Guernsey Remains Leader In Non-UK Listings
27/01/2012 |
Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market
authority.
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| Vale Scores Victory In Brazilian Tax Appeal
01/02/2012 |
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Vale, the world's second largest mining company has won an injunction in a long-running court battle against the Brazilian tax authority relating to claims for billions of dollars in back taxes said to be due on its foreign-sourced income.
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| FTT 'Simply Madness' Says Cameron
01/02/2012 |
The mere consideration of a financial transaction tax is 'madness', the UK's Prime Minister has said.
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| Swiss Financial Market Regulation Praised
01/02/2012 |
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According to the Swiss Federal Department of Finance, the Financial Stability
Board has taken a positive view of the 'too big to fail' legislation
in its peer review report on Switzerland.
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| Maltese Banking Sector Concerns IMF
27/01/2012 |
With public finances being given a clean bill of health, the International Monetary Fund in its latest assessment of Malta has warned that safeguards must be introduced to protect the Maltese banking sector.
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| Romney Discloses Tax Returns
27/01/2012 |
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Mitt Romney, one of the two leading Republican contenders for the United States
Presidency, has, following some pressure to do so, divulged his tax returns for
the past two years that, as expected, show the low effective tax rates he pays.
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| WTO Establishes Three Trade Dispute Panels
02/02/2012 |
The World Trade Organization has confirmed the creation of two panels to mediate
on cases relating to Chinese anti-dumping and countervailing duties, and a third
to examine Canadian support to local manufacturers of clean-tech products in cases
brought by the European Union and Japan.
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| Liechtenstein's PM Welcomes Dawn Of New Tax Era
01/02/2012 |
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Determined to portray a new and positive image of the Principality, Liechtenstein’s
Prime Minister and Finance Minister Klaus Tschütscher has recently insisted
that the age of so-called tax havens, jurisdictions deemed to be uncooperative
in tax matters, is now over.
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| Pakistan Eases CGT On Shares
31/01/2012 |
Pakistan’s Federal Finance Minister Dr Abdul Hafeez Shaikh has announced that the government is to ease the rules on capital gains tax in the hope of boosting investment and reviving trading volumes in the local stock market.
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| Manx Budget 'Will Not Undermine Economic Potential'
02/02/2012 |
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Discussing the state of the Isle of Man economy, Chief Minister Allan Bell
said that the local business community would need to work with the government
as it attempts to consolidate the nation's financial position in its upcoming budget in order to exit strongly
from the global recession.
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