| |
| |
|
Politics Information |
|
|
|
Continuing Change in the Offshore World
The offshore financial centres have been forced in recent years to review almost every aspect of the ways in which they operate in response to the international anti- money laundering laws and initiatives by major economies such as the E.U. and the U.S.A. to increase co-operation in the areas of preventing tax avoidance and tax evasion. These pressures continue and it is clear that the only way forward is for these centres to eliminate, as a priority, all forms of discrimination between different classes of taxpayer. Some jurisdictions have taken active steps to secure their futures, but some have difficulty in doing so and some are having to give up the struggle. Gibraltar's tax haven status to be scrapped Gibraltar is an example of a territory with a discriminatory tax regime. A non-resident may form a company there, which pays an annual flat tax of between £225 and £300. The same company owned by a local resident may pay tax at 35% on its profits. Gibraltar is a member of the E.U. and a dependent territory of the U.K. It was recently announced that Britain, threatened by Court action, has given into E.U. demands to abolish the special tax regime. The Gibraltar exempt company regime will accordingly close as from July 2006 and will be abolished altogether in 2010. In the intervening period the number of companies benefiting from the scheme will be capped at 8464 and any company, which changes ownership, will lose the benefit immediately. Jersey Jersey is another territory, which may encounter problems. It relies heavily on the financial sector for its revenue, much of which is generated from a flat corporation tax on companies, owned by non residents, but conducting their trading activity elsewhere, in much the same way as Gibraltar. The Island is considering introducing a goods and services tax and/or a zero rate corporation tax as part of its solution to the problem. In the meanwhile the debate goes on. The local newspaper has reported that some fund managers would like to join the E.U. and a former Economic Advisor to the government has been quoted as saying that any clamp down on its tax haven status would force the Island to consider joining. In more colourful language, one of the members of a local professional body is reported as having said that the jurisdiction would "self-implode within three years" because "it is "staggeringly dependent on corporation tax". Problems Onshore It is not only the offshore centres, which are feeling the pressure. The E.U. is attacking the Dutch International Financing Activities scheme and the Belgian co-ordination centres scheme. In the U.S. the I.R.S. has forced Mastercard to supply records of transactions of U.S. residents with accounts in Antigua, Barbuda, the Bahamas and the Cayman Islands. The government has entered into exchange of information agreements with these territories and is negotiating agreements with Panama and the British Virgin Islands. The Chesterfield Group provides a full range of trustee, and corporate advisory, formation and management services and invites enquiries. More particulars can be found on our web-site http://www.chesterfield-management.com REF=CH3EZ
MORE RESOURCES:
Politics - Google News |
|
|
|
RELATED ARTICLES
An Introduction to the Connecticut State Budget for 2004-2005 The Connecticut Conference of Municipalities (CCM) is interested in the state's budgetary health, so that the conference can estimate how much money the state will transfer to local towns and municipalities. To determine the fiscal health of any state, the first place to examine is expenditures on prescription drugs for the state's Medicaid program. The Black Flag Of Anarchy Rational, sober, logical citizens wonder what exactly the terrorists want. What purpose does it serve to fly planes into buildings, kill and maim police recruits by the hundreds, or blow up innocent commuters on mass transit? Such a question carries the assumption that there is a goal hidden beneath the madness. Democracy, War and the Media - Uneasy Bedfellows All Round Recent international wars and the often spectacular ways in which the established media is covering them, have given media researchers ample opportunity to see whether technological developments are giving us the opportunity to have a closer experience of democracy.It is logical to assume that new technology empowers us all. Immortality and Mortality in the Economic Sciences Roberto Calvo Macias, a young author and thinker from Spain, once wrote to me that it is impossible to design a coherent philosophy of Economy without accounting for the (sad?) fact that we are mortals. This insight is intriguing. Did 9-11 Change Everything for the Business Community For the business community 9-11 changed everything. In our company, we are in the cleaning business and after 9-11 we saw 62. Six Sigma Can Improve Government Practices Government bodies at any level, local, state, and Federal, can implement Six Sigma to improve customer service and increase the effectiveness of government. Although Six Sigma has its roots in private-sector manufacturing, it works just as effectively in governmental organizations and government will reap the same benefits as corporations. Upcoming Palestinian Elections Might Put Extremists In Power The Palestinian Fatah Movement is doing whatever it can to brush up its image in the run up to this Summer's parliamentary elections, including the appointment of young blood into the ranks. The outcome of the elections is going to be of crucial importance for the chances of peace with Israel as well as the country's division of power. Conspiracy Theory; Kill Off the Old Folks Recently I met a man in a coffee shop, a conspiracy theorist, which had me cornered and began to get into a way-out conspiracy theory. As I listened to this crazy idea, he complained about all the usual folks. An Environmental Voting Guide for US State Elections In these times when states are suffering extreme downward pressure on budgets and spending, how is our environment making out? Did it suffer cuts right along with the Program to Assist Millionaires Become Billionaires? Are important environmental projects being dropped from the budget along with luxury items like the statehouse's new Gold-Plated Enforcement Gavel?And why is the issue of environmental protection relevant at the state level? Doesn't the US Environmental Protection Agency handle all that stuff? This article answers these questions and provides smart-voting tools for you to help ensure your surroundings remain green and healthful.ENVIRONMENTAL ACTION AT THE STATE LEVELWhile the US Environmental Protection Agency garners much of the media attention when it comes to environmental enforcement, it is actually the states that are carrying most of the load:75% of the federal programs that can be delegated to states have been delegated;90% of environmental enforcement actions are taken by the states;94% of the data in EPA databases came from the states. National ID Cards Have More Than Australians Concerned Fearful that terrorists will next target Australia, Prime Minister John Howard broke the silence this week. He reopened the debate on issuing mandated national ID cards. Restoration in Russia: Much Needed and Inevitable Handing over power to Vladimir Putin in 1999, Boris Yeltsin sought to preserve the political alignment of forces and coordinates he set during his rule in Russia in 1991-1999. The project 'Heir' did not only imply selecting a man from Yeltsin's 'camp', but the one who would preserve the status quo of the regime. Protecting Children From Porn There's a new Michigan state register (at https://www.protectmichild. George Bush--A New World Order When this president's father was in the Oval Office, he was fond of singing the praises of the "New World Order" that was to arrive. The phrase carried a lot of baggage, especially with conservatives who had long heard the term associated with a one-world government with little room for individual rights. Lost and Found in Gaza The evacuation of Gaza is now completed, and the world has been watching closely. As a proud member of the Jewish People, I have nothing but admiration for the soldiers of the Israel Defense Forces, for the humane way they carried out this most difficult military assignment. FTC Hurts Franchising Consumers Last Summer the Federal Trade Commission came out with a report citing all the changes that might be considered in a future rule making for the franchise rule. It addressed comments made back in 1995 and 1999. The Divided Language I was dismayed to learn the other day, that my all-time favourite George Bernard Shaw quote may not in fact have been uttered by him.Nevertheless, even the misquotation that Britain and the United States are two countries divided by a common language, will ring true with any British Expat who has tried to make their new home in America. The U.S. Department of Justice vs. the Realty Industry, and Its Effect on Consumers From the National Association of Realtors' Virtual Office Website policy, to laws and regulations in individual states across the country, the U.S. Advances in Nuclear Energy; Safe, Clean and Reliable The newest pebble reactors are easy to build and manage and have extremely high out put considering their small size, perfect for islands set down wind from populations. Unfortunately the Three-mile Island and Chernople incident make populations feel uncomfortable with Nuclear. Cloaking Giant Airships is Possible, Why Stop There? We know we can cloak a giant airship from those looking up at it by simply using a video to tape what is above it and then display that on the bottom of the blimp. Those looking up at it will see not see a blimp but rather the sky above displayed like a giant flat movie screen which has been curved around the bottom of the blimp. National Archives Needs to Embed RFID Tags in Ink Perhaps we should have printers with ink which has metallic properties which would simulate RFID Tags in pages scattered throughout the reports and papers of secret documents, then if one decides to do something unethical to steal the paper work then the report itself will trigger an alarm, even if one puts it in their socks or underwear, under a hat. As one leaves the building through a detector like at the bookstores, gotcha!!These technologies are being developed now, so we may as well put them to good use.
|
| home | site map |
| © 2006 |