Swiss lower house refuses to vote on US bank deal in new standoff with Washington 19/06/2013
Swiss lawmakers in the lower house of parliament refused to vote on a deal with the US disclosing American tax evaders with assets in Swiss banks, raising the stakes in the long tussle with Washington over Swiss banking secrecy.
Jersey publishes action plan following G8 tax communique 19/06/2013
Jersey has issued its own Action Plan on beneficial ownership, to improve the transparency of the ownership and control of legal persons and legal arrangements, following the G8 communique on tax matters in Northern Ireland yesterday (see eprivateclient 19/06/2013).
IoM seeks to seize the initiative on tax 19/06/2013
The Isle of Man has responded to intense political pressure on the crown dependencies with a pledge to build on the G8 tax agreement.
Hollande announces CGT relief on second homes 19/06/2013
President Francois Hollande has announced a change in the capital gains tax system on second home sales to provide more fluidity in the French property market. The taper relief system is to be changed so that from 2014 the required time of ownerships before a property is completely exempt from capital gains tax will be 22 years, down from the 30 year system which was ratified in September 2012.
Still time to claim 50 percent tax relief on future charitable donations, Mishcon head of tax advises 19/06/2013
Andrew Goldstone, a partner and head of tax & wealth planning at law firm Mishcon de Reya, has advised that anyone who paid 50 percent tax last year still has an opportunity to claim 50 percent tax relief on future charitable donations even though you now pay tax at the reduced top rate of 45 percent (or less).
Swiss government looks to play leading role in tax information exchanging 19/06/2013
The Federal Council of Switzerland has accepted an initial report from a group of experts for the further development of the Swiss financial market strategy. The Brunetti report has recommended that Switzerland plays an active role in negotiating an international standard for the automatic exchange of tax compliance information.
HMRC receives 72000 tip offs to tax evasion hotline 19/06/2013
Calls to HMRC’s tax evasion hotline numbered 72,000 last year, according to figures from tax and accounting group Bloomsbury Professional.
G8 release communique on tax avoidance 19/06/2013
Leaders of the G8 major economies have agreed to new measures to clamp down on tax evasion and avoidance as well as money laundering.
European Commission to extend information sharing 17/06/2013
The European Commission has proposed extending the automatic exchange of information between EU tax administrations.
UK offshore jurisdictions agree to clampdown on tax evasion 17/06/2013
The UK's Overseas Territories and Crown dependencies have agreed to sign up to a tax evasion clampdown after a weekend meeting at 10 Downing Street.