15th July 2010 | Click here to view in a browser: www.lowtax.net/newsletter/126.asp

Lowtax Network Update


Dear Subscriber,

'Our door is open' says an official in the White House to a business lobby which wants to bend the President's ear over his profoundly anti-business policies. A triumph of hope over experience, as Mr Punch said of a second marriage. Any discussion between business and government is a dialogue of the deaf, especially if the government in question is socialist. Even right-wing governments approach business from a jarringly different perspective. The UK government, which is right-wing only in patches, is 'consulting' with stakeholders over its proposed bank levy. In other words, it is offering the condemned man a choice of rope with which to be hanged.

[ Continue reading ]

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Tax-News.com Jersey Review 2010-2011

NEW

A review and forecast of Jersey's international business, legal and investment climate.

Jersey, like the UK's other Crown dependencies of Guernsey and the Isle of Man, is facing up to a moment of truth as it struggles to fit its corporate tax regime within the Iron Maiden of the EU's Code of Conduct Committee. For the last few years, Jersey has been operating a 'zero/10' regimes in which the financial sectors is taxed at 10% while other types of company are exempt from income taxation.

Jersey hoped this would be enough for it to escape the reach of the Committee, but it was not to be - the island has been too successful, so its competitors in Continental Europe insist on 'transparency' and a 'level playing field', hoping to force Jersey into taxing all companies the same.

[ Continue reading ]

Today's Top Headlines

Ireland's Fiscal Consolidation On Track
In an Article IV Consultation with Ireland the International Monetary Fund concluded that the government had stayed on course towards their consolidation goals, but much remained to be done.
[ Continue reading ]

US Firms Cash In On Employment Credits
The US Department of the Treasury on July 12 released a new report showing that, from February 2010 to May 2010, businesses hired an estimated 4.5 million new workers who had been unemployed for eight weeks or longer, making those businesses eligible to receive up to a projected USD8.5bn in HIRE Act tax exemptions and credits. [ Continue reading ]

White House Listens To Business Tax Concerns
The Obama administration has said that its door is open to ideas from the business community on how tax and regulation can be improved to help drive forward the economic recovery. [ Continue reading ]

Sarkozy Stands Firm On Pension Reform
In a clear display of defiance, French President Nicolas Sarkozy has categorically insisted that he will not be moved on plans to increase the legal age of retirement to 62 or to align public sector pension contributions with those of the private sector. [ Continue reading ]

Semeta Cautions On EU Financial Tax
European Union Tax Commissioner Algirdas Semeta has reportedly announced his opposition to the swift implementation of a financial transactions tax within Europe, as currently advocated by Germany and France. [ Continue reading ]

UK Launches Bank Levy Consultation
The Financial Secretary to the UK Treasury, Mark Hoban, has launched a consultation document on the proposed Bank Levy. [ Continue reading ]

To Continue Reading Please Visit: Tax-News.com

New On The Lowtax Network

15/07 New Lowtax Editor Column, by Kitty Miv
15/07
St Vincent & The Grenadines, Investors Offshore special feature
14/07
New PBTG Editor Column, Caroline, PBTG editor
13/07
Tax-News.com Jersey Review 2010-2011
12/07
Goodbye To All That, Jeremy Hetherington-Gore blog entry
09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com
08/07
New Lowtax Editor Column, by Kitty Miv
07/07
New PBTG Editor Column
, Caroline, PBTG editor
06/07 Hong Kong Full PBTG Guide, added to Personal Business Tax Guide
05/07 Australian Mining Tax Agreement Reached, Tax-News.com
02/07 Online Trading For Expats, Investors Offshore special feature
01/07 New Lowtax Editor Column, by Kitty Miv
29/06 EC To Extend Common System Of VAT, Tax-News.com
28/06
Lowtax Dubai, annual update
25/06
Jersey Considers Tax Future, Tax-News.com
24/06 New Lowtax Editor Column, by Kitty Miv
23/06 New PBTG Editor Column, Caroline, PBTG editor
22/06 VAT Hiked In UK Emergency Budget, Tax-News.com
21/06 Steady Progress In TPP Negotiations, Tax-News.com
18/06 Singapore - Another Hong Kong?, Investors Offshore special feature
17/06 New Lowtax Editor Column, by Kitty Miv

Lowtax Network Sites

Lowtax Portal: 'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail.

Tax News
: Global tax news, continuously updated through the day.

Investors Offshore
: The independent offshore and alternative investment guide for expatriates and the globally aware investor.

Law & Tax News
: Daily news and background data on tax and legal developments for international business.

Offshore-e-com
: A topical guide to offshore e-commerce focused on tax and regulation.

Lowtax Library
: One of the web's largest and most authoritative business and investment information sources.

US Tax Network
: The resource for free online US taxation information, covering: corporate tax, individual tax, international tax, expatriates, sales and e-commerce tax, investment tax.

Personal Business Tax Guide
: Providing essential tax news and information on business for contractors, entrepreneurs, professionals, small businesses, artists, sportspersons and entertainers.