Australia Consults On Living Away From Home Allowances
The Australian government has launched a consultation on planned reforms to the tax concession for livingawayfromhome allowances and benefits.
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Italian Property Tax Slammed As 'Odious And Inequitable'
Niccoló Rinaldi, head of the Italian opposition party, Italia dei Valori,
in the European Parliament, has described the new Italian tax on the value of overseas
properties and financial assets as only the latest in a long line of attacks on
the finances of Italian expatriates.
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Gibraltar Proposes Law Change To Offer UK QROPS
The Gibraltar government has published a Bill that would amend the territory's
legislation to allow local practitioners to offer Qualifying Recognised Overseas
Pension Schemes under a regime compliant with new rules set by the UK tax authority,
HM Revenue and Customs.
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IoM Will Not Follow UK's Lead On Taxing Business Jets
The Isle of Man's Treasury Minister, Eddie Teare has confirmed that, despite the
territory maintaining many similar elements to the United Kingdom tax regime,
the island will not follow suit with the UK government's decision to begin taxing
small business aircraft under the Air Passenger Duty regime.
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Ireland To Tighten Tax Residence Rules
Ireland's Minister for Finance Michael Noonan has launched a consultation
on possible revisions to the current tax residence rules designed to ensure that affluent individuals that have strong economic ties to Ireland but are not tax resident pay a 'fair contribution' in tax.
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Ireland, US In Talks Over FATCA
Ireland and the United States are in talks to establish a common approach to the Foreign Account Tax Compliance Act, drawing on domestic and international tax legislation and treaties.
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Canada Targets Immigrant Entrepreneurs
The Canadian government has launched consultations on plans for a new 'start-up visa' designed to attract immigrant entrepreneurs and bolster the economy.
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Taiwan Mulls Reduced Tax Rate For Expatriates
It is likely that the government will propose measures to attract foreign professionals
and other white-collar managers to Taiwan, on the instigation of the Taiwanese
Premier Sean Chen.
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Maltese Developers Cry Foul On Property Tax Valuations
The Malta Developers Association has called on the government to rethink the valuation
of island property for the purposes of levying the 12% withholding tax on property
sales, to take into account the falling price of real estate.
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Ireland Urged To Ease Property Tax For Low-Paid
The Irish government's planned property tax could be fairer than the current interim household charge, the Economic and Social Research Institute has said, warning that the current system hits lowest earners hardest.
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New UK Non-Dom Scheme Welcomed
The UK's new 'non-dom' legislation provides potentially attractive relief, but investors must be aware of the complex rules, lawyers have warned.
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IRS Issues Final Non-Resident Reporting Rule
The Treasury Department has issued the final regulations on the reporting to the
Internal Revenue Service of interest paid to non-residents by United States
banks from January 1, 2013.
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Guernsey 'Singled Out' In UK QROPS Change
Guernsey Finance, the promotional agency for the island's financial services
industry, has condemned the UK tax authority's decision
to remove almost all Guernsey Qualifying Recognised Overseas Pensions Schemes from its updated list,
describing the move as an 'unjust attack on the island'.
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IoM 50C Pension Scheme Falls Foul Of New QROPS Rules
The Isle of Man government has responded to the recent update to UK rules regarding
Qualifying Recognised Overseas Pension Scheme, which now excludes transfers to
structures under Section 50C of the Income Tax Act 1970, known as 50C pension
schemes.
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EU To Investigate Cross-Border Worker Taxation
Tax provisions of European Union member states are to be scrutinized to ensure that they do not discriminate against cross-border workers, in a targeted initiative launched by the European Commission.
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Ireland Appoints 'Start-Up Ambassador' In China
Enterprise Ireland has appointed an 'International Start-up Ambassador' in China as part of the government's Action Plan for Jobs 2012.
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Jersey Assesses UK Stamp Duty Measures
Jersey Finance, the agency responsible for the promoting the island's finance industry,
has responded to measures in the UK budget which seek to prevent stamp duty tax avoidance on the purchase of high-value property in the UK via offshore company structures.
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Guernsey Wealth Management Promoted In India
Guernsey's offerings as a wealth management domicile were promoted at the India Wealth Forum, held recently in Delhi and attended by Guernsey wealth management
firm Nerine Group of Fiduciaries.
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Number Of French Tax Exiles 'Marginal'
Linked to the French finance ministry, the national union of tax officials has recently revealed that only one in one thousand individuals subject to wealth
tax actually leaves France each year.
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Swiss 'Flat Taxes' Under Attack
During recent federal and cantonal votes, the Swiss canton of Appenzell Ausserrhoden in the north of Switzerland voted in favour of abolishing the flat rate
of tax currently benefiting wealthy foreigners.
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