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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 |
Tax-News.com
Headlines
US
Government Seeks To Resurrect KPMG Tax Shelter Case,
by Glen Shapiro, LawAndTax-News.com, New York
Thursday, March 27, 2008 |
| It has emerged that
the US government is attempting to revive its case against 13
former partners of accounting firm KPMG, who stand accused of
facilitating the use of illegal tax shelters which allegedly
cost the Treasury billions in tax revenues. [
FULL
STORY ] |
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Tax
Freedom Day Arrives 3 Days Earlier For Americans In 2008,
by Mike Godfrey, Tax-News.com, Washington
Thursday, March 27, 2008 |
| 'Tax Freedom Day'
for US taxpayers will fall on April 23rd this year, according
to the Tax Foundation’s annual calculation, using the
latest government data on income and taxes. [
FULL
STORY ] |
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Czech
Government Rethinks Income Tax Cut,
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, March 27, 2008 |
| The Czech government
is reported to be reconsidering its proposal to cut income tax
by 2.5% next year, in favour of the less expensive option of
reducing social insurance tax. [
FULL
STORY ] |
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Liechtenstein's
Banks Positive For The Future,
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, March 26, 2008 |
| The Liechtenstein
government has this week described 2007 as a 'successful business
year' in an official statement. [
FULL
STORY ] |
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Tax
Agreement Between Malta And Singapore Comes Into Force,
by Robert Lee, Tax-News.com, London
Wednesday, March 26, 2008 |
| The Maltese government
announced on Wednesday that the agreement between Malta and
Singapore for the Avoidance of Double Taxation and Prevention
of Fiscal Evasion with respect to taxes on Income is now effective.
[ FULL
STORY ] |
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DIFC
Publishes Guide To Islamic Finance,
by Carla Johnson, Investors Offshore.com
Wednesday, March 26, 2008 |
| The first comprehensive
guide to Islamic finance has been produced by the Dubai International
Finance Centre (DIFC), satisfying a long-felt need in one of
the world's fastest growing economic sectors. [
FULL
STORY ] |
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Offshore
Liberia
Liberia,
on the west coast of Africa, has an area of 99,067 sq km. A low
coastal belt is backed by gently undulating forested plateau; then
in the north is a mountain region which includes Mount Nimba at
1,752m. The climate is tropical, hot and humid. The capital is Monrovia,
which together with the newer port of Buchanan are amongst the most
modern ports on the west coast of Africa. There are direct scheduled
flights from both Europe and the US to Roberts International Airport
on the outskirts of Monrovia.
The foundation
and initial colonization of Liberia in the 1820s resulted from a
number of initiatives in which enslaved African Americans returned
to Africa in an eventually successful attempt to create a republic
on libertarian lines. By 1840 a number of Liberian colonies had
united in a Commonwealth. The Liberian settlers were relatively
few in number, and invited participation in their economy from indigenous
African tribes. Eventually these migrants outnumbered the colonists;
by now, descendants of the original settlers make up no more than
5% of the total population of 3.4m.
After a period
of settled government in which Presidents Tubman and Tolbert were
prominent, Tolbert was assassinated in 1980 by Samuel Doe, who became
president. This regime was legitimized in 1986 with the establishment
of the 2nd Liberian republic. In 1989 Charles Taylor toppled Doe's
government, leading to a period of chaos and civil war. Businessman
Gyude Bryant was chosen to lead a transitional government under
UN sponsorship at all-party peace talks in August 2003 after Taylor
was forced to step down. Crucial elections were held in October,
2005, resulting in the appointment of Ellen JOHNSON-SIRLEAF as President.
Liberia has plentiful
water, mineral resources, forests, and a climate favorable to agriculture,
and has been an exporter of raw timber, rubber, diamonds, iron ore,
coffee and cocoa. The fairly small manufacturing sector has been
mostly foreign owned. There were some signs in 2004 and 2005 that
external confidence is being re-established in the key diamond extraction
industry, with Canadian company Diamond Fields to the fore in resuming
foreign investment.
Liberia's success
story, however, has been its shipping registry, which after some
problems in the 1980s is now rapidly growing back to its former
prominence. Currently it is the world's second largest registry
- previously it was the leading registry.
Learn more in our full Liberia
Knowledgebase.
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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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here for the new directory home page.
For Service Providers
The Lowtax Offshore Service Provider's Directory offers
firms the ability to highlight their services to one of the web's
largest specialised tax, legal and offshore audiences. Our visitors
include large numbers of corporates and HNWIs. Standard entry in
the directory is free as long as your details are kept up to date.
Premium entry options are available. Please contact Daniel
Cookson for further details.
Click
here for the new directory home page.
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Offshore
Grenada
Grenada is the largest of a group of
Caribbean islands, north of Trinidad and Tobago. It is volcanic in
origin, with central mountains; there are extensive, sandy beaches,
and many reefs. The climate is tropical, tempered by northeast trade
winds. Grenada is on the southern edge of the hurricane belt, but
the occasional hurricanes can be devastating. After Hurricane Janet
in 1955, with winds of 115 mph, came Hurricane Ivan in 2004 and Hurricane
Emily in 2005, both of which caused serious damage.
A French colony was established on Grenada in the 17th century, but
eventually the island was ceded to the British under the Treaty of
Versailles in 1783. The British imported African slaves and established
sugar plantations, which were staffed by indentured Indian immigrants
after the abolition of slavery. The island gained independence in
1974.
Despite its British history, the island retains many French cultural
influences. The population of just under 90,000 (July 2006 est.) has
English as its official language. Grenada has a constitutional monarchy
with a Westminster-style parliament. The Queen is the Head of State,
represented by a governor-general.
Although the island is famous for its nutmegs, Grenada now relies
on tourism as its main source of foreign exchange; the development
of an offshore financial industry has also contributed to growth in
national output. The island is recovering quickly from the hurricanes
of 200/5. The currency is the East Caribbean dollar.
Foreign investment is welcomed, but there are some restricted sectors
of the economy. Domestic companies are taxed on their profits, but
the offshore sector is largely free of taxation; and investors once
accepted are given good fiscal incentive packages. The offshore sector
offers International Business Companies, Banking, Insurance and Gaming
regimes.
Learn more
in our full Grenada
Knowledgebase. |
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