Lowtax Network
Content Update | Issue XLVIII | 18 September 2008
ONLINE VERSION: HTTP://WWW.LOWTAX.NET/NEWSLETTER/CONTENT_UPDATE_XLVIII.ASP

Dear Colleague,

This week:

I hope you find this update useful. Please remember that you can customise your mailing preferences by visiting your own profile page to choose from 29 offshore tax and law subjects in order to receive just the information you want. You can also unsubscribe completely by following the instructions at the bottom of this page.

Kind regards,

Kate James

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Tax-News.com Headlines

Dutch Budget To Support Enterprise,
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, September 18, 2008
Dutch Finance Minister Wouter Bos presented the government's budget plan to parliament on Tuesday, which contains several measures aimed at promoting entrepreneurship and supporting small business. [ FULL STORY ]
Senate Finance Panel Aims To Complete Tax Objectives,
by Mike Godfrey, Tax-News.com, Washington
Thursday, September 18, 2008
The heads of the US Senate tax-writing panel announced on Tuesday that they have secured agreement from the Senate’s Democratic and Republican leadership to move legislation accomplishing the panel’s remaining tax goals for the year, including the tax 'extenders,' package, another alternative minimum tax (AMT) 'patch,' and clean energy initiatives. [ FULL STORY ]
Maltese Government Mulls Income Tax Cut,
by Robert Lee, Tax-News.com, London
Thursday, September 18, 2008
While Malta's Finance Minister Tonio Fenech has not ruled out the possibility of income tax cuts in the upcoming government budget, a sudden drop in tax receipts, and a slowing economy, make the prospect look dim. [ FULL STORY ]
IRS Announces Tax Credit To Aid First-Time Homebuyers,
by Mike Godfrey, for LawAndTax-News.com, Washington
Wednesday, September 17, 2008
First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008, the Internal Revenue Service (IRS) has announced this week. [ FULL STORY ]
HKEx To Develop Real-Time Stock-Price Web Tool,
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, September 17, 2008
It was announced on Wednesday that Hong Kong Exchanges and Clearing is seeking expressions of interest from the market in developing a business model for the free dissemination of basic real-time HKEx market prices on websites. [ FULL STORY ]
Malaysia-India FTA Negotiations Ongoing,
by Mary Swire, Tax-News.com, Hong Kong
Wednesday, September 17, 2008
Negotiations between Malaysia and India over a Free Trade Agreement (FTA) are expected to be finalised by the end of this year, with the FTA firmly in place by 2009, it was announced on Tuesday. [ FULL STORY ]

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Directory

For Visitors

Our aim is to offer you the ability to locate a service provider specialising in the field of your choice, in the jurisdiction of your choice, with just a few clicks. We only list confirmed entries to reduce the number of dead-ends and strictly enforce categorisation criteria to ensure that you find exactly the service you are after. As of September 2007 we have begun to implement a new, expanded format to make the directory even more user friendly and comprehensive.

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Offshore

Cayman Islands

Mourant Du Feu And Jeune Appoints Head Of Cayman Office, by Philip Morton, Investors Offshore.com 11/09/2008
Deutsche Bank Cayman Appoints New Chief Operating Officer, by Ulrika Lomas, for LawAndTax-News.com, Brussels 10/09/2008
Global Hedge Fund Assets Near USD3 Trillion, by Phillip Morton, Investors Offshore.com 26/08/2008

The Cayman Islands are an English-speaking Dependent Territory of the United Kingdom, located in the Caribbean between Cuba and Central America. There are two international airports, one in George Town, Grand Cayman and the other in Cayman Brac. Aabout nine major airlines fly to Cayman and there are daily flights to Miami and weekly flights to major North American and European cities.

Cayman is politically stable; under the 1972 constitution, the Governor represents the Queen and assigns portfolio responsibilities to five elected Ministers of Government, although the constitutional relationship between the Cayman Islands and the UK is undergoing change. There are no taxes in the Cayman Islands: Government revenue comes from customs duties, stamp duty and annual fees levied on corporations. The population of 46,600 is of mixed British and Jamaican stock, with more than 70 nationalities present in the work-force. The economy is highly dependent on tourism, with financial services also important.

Cayman is the largest offshore banking centre in the world with 350 banks and deposits worth about US$1.7 trillion. It is the second largest captive insurance base after Bermuda, with assets worth $20 bn. The Cayman Islands trust sector is thought to manage more than $500 bn. Mutual funds are a growing sector, especially since the opening of the Cayman Islands Stock Exchange in 1997. The Cayman Islands have emerged as a predominant registration base for hedge funds; CDO and other securitization instruments have also taken a firm hold.

Learn more in our full Cayman Islands Knowledgebase.