Industry News

Cayman Islands Announces New Tonnage Tax Regime

November 22, 2011, 14:00 / Industry News / Jurisdiction: Cayman Islands

The Maritime Authority of the Cayman Islands (MACI) is introducing a new Annual Tonnage Fee (ATF) structure, which will come into effect on January 1, 2012.

G20 countries strengthen international tax co-operation

November 22, 2011, 12:30 / Industry News

During the November G20 summit, all governments agreed to a multilateral Convention to tackle tax evasion more effectively.

A plot to impose financial transaction tax on UK

October 28, 2011, 10:30 / Industry News / Jurisdictions: United Kingdom, EU

A group of European politicians is plotting to impose the financial transaction tax (FTT) in a way that Britain would be powerless to veto, a British Member of the European Parliament has warned.

Repatriation Bill to Tax Overseas Profit at 8.75 Percent

October 25, 2011, 17:00 / Industry News / Jurisdictions: USA

Corporate repatriation legislation proposed by Senators Kay Hagan and John McCain would let U.S. businesses bring home offshore profits at an 8.75 percent tax rate.

Bermuda Insurance Company Registrations Up

October 7, 2011, 15:00 / Industry News / Jurisdictions: Bermuda

The pace of insurance company registration in Bermuda has picked up, bolstered in the main by a rise in special purpose insurers.

Ireland asks EU to amend treaties

September 29, 2011, 16:26 / Industry News

The Irish government has asked the European Union to amend its treaties in order to provide specific legal assurances that the country can continue to control its own corporate tax rate.

Spain revives wealth tax plan amid crisis

September 27, 2011, 10:00 / Industry News / Jurisdiction: Spain

Spain’s Socialist government has resurrected a hotly contested plan to impose a wealth tax next year, according to party leaders eager to spread the burden of austerity and reassure financial markets that the country will control its budget deficits.

EU-Singapore Trade Pact In The Offing

September 26, 2011, 14:30 / Industry News / Jurisdiction: European Union, Singapore

Following his meeting with Singapore's Prime Minister Lee Hsien Long, the President of the European Commission, Jose Manuel Barroso said that a comprehensive Free Trade Agreement between the EU and Singapore will likely be finalized "very soon".

Austria Divided on Wealth Tax

September 22, 2011, 11:00 / Industry News / Jurisdiction: Austria

Hot on the heels of recent remarks made by Austria’s Chancellor Werner Faymann pertaining to the taxation of the country’s wealthiest, Finance Minister Maria Fekter issued a categorical ‘no’ to the idea of introducing a wealth tax in Austria.

Cyprus MPs approve balanced austerity measures

September 16, 2011, 14:30 / Industry News / Jurisdiction: Cyprus

Parliament approved the Cyprus government’s first package of austerity measures aimed wrestle down its high deficit, which politicians said had been watered down in order to calm union leaders, particularly those representing civil servants and employees in the semi-government sector.

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