Dear Colleague,
This week: UK, Canada, Corporate HQs
and Venture Capital.
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
|
Onshore
CANADA
 |
Canada Tax
Fairness Plan Passed In Commons, by Mike Godfrey, Tax-News.com,
Washington 14/06/2007 |
| The Canadian Budget
Implementation Bill, which contains Finance Minister Jim Flaherty's
controversial 'Tax Fairness Plan', has been passed by the House
of Commons and now awaits the approval of the Senate.
[ FULL
STORY ] |
 |
Rangel Backs
Delay In US Passport Initiative, by Leroy Baker, Tax-News.com,
New York 14/06/2007 |
| US Congressman
Charles B. Rangel has praised the Department of Homeland Security
(DHS) for allowing Americans to temporarily travel to Canada,
Latin America and the Caribbean without a passport, as long
as they have proof of having applied for one. [
FULL
STORY ] |
 |
EFTA And Canada
Conclude Free Trade Talks, by Ulrika Lomas, Tax-News.com,
Brussels 11/06/2007 |
| Negotiations on
a free trade agreement between the European Free Trade Area
(EFTA) states and Canada have been concluded, the Swiss government
has announced. [
FULL
STORY ] |
Canada Features
-
LIVING
ANS WORKING IN CANADA- THE EXPATRIATE PERSPECTIVE - By Caroline
Maxwell, London
In
this article, we look at a variety of issues relevant to expatriates
living and working in Canada, including immigration, residence,
and taxation.
- DOING
BUSINESS IN CANADA - By Amanda Banks, London
In this article we look at the different
ways in which a foreign corporation can do business in Canada, and
examine the advantages, disadvantages, and taxation implications
of each.
- OUTWARD
INVESTMENT FROM CANADA - THE OFFSHORE PERSPECTIVE - By Caroline
Maxwell, London
In this article we look at ways in which Canadian corporations can
use an offshore subsidiary to achieve tax efficiency, and examine
the suitability of two preferred jurisdictions in the light of recent
events.
- INCOME
TAX IMPLICATIONS FOR NON-REIDENTS INVESTING IN CANADIAN REAL ESTATE
- By Michael I Atlas, CA, CPA, TEP
This
primer distinguishes between business and non-business tax treatment
of income from real estate investments by non-residents in Canada.
Canada Knowledge
Base
- CANADA
INDIVIDUAL NON-RESIDENT TAXATION
- CANADA
HOLDING COMPANIES
- CANADA
IMMIGRANT TRUSTS (FOR EXPATRIATE RESIDENTS)
|
|
Tax-News
Headlines
|
Cayman Leader Attacks 'Politically
Motivated' US Offshore Probe,
by Mike Godfrey, Tax-News.com, Washington 15/06/2007 |
 |
Cayman Islands
Leader Kurt Tibbets has launched into a stout defence of his
jurisdiction's reputation, dismissing accusations from US Senators
that the Cayman Islands is a facilitator of international tax
evasion as nothing more than 'political manoeuvring.' [
FULL
STORY ] |
| BVI
Clocks Up 11% Growth In 2006,
by Leroy Baker, Tax-News.com, New York
15/06/2007 |
 |
Giving
his fourth annual State of the Territory address earlier this
month, the BVI's Chief Minister Dr D Orlando Smith said that
the BVI posted growth of 11% in 2006, registering GDP of US$992m.
[ FULL
STORY ] |
|
IRS Extends Deadline For Reporting Foreign Accounts,
by Leroy Baker, Tax-News.com, New York
15/06/2007 |
 |
Taxpayers
have an additional two days this year, until July 2, 2007,
to file the Report of Foreign Bank and Financial Accounts
(FBAR) form, the Internal Revenue Service has announced.
[ FULL
STORY ] |
|
Onshore
UK
 |
FSA Publishes
Feedback On Private Equity Discussion Paper, by Philip Morton,
Investors Offshore.com 15/06/2007 |
| The UK's Financial
Services Authority (FSA) has this week published its feedback
on the 'Private Equity: A discussion of risk and regulatory
engagement' discussion paper, which examined the impact that
growth and development in the private equity market has on the
FSA's regulation of the UK's wholesale markets. [
FULL
STORY ] |
 |
Advisors Urge
Offshore Savers To Take HMRC's Carrot, by Robert Lee, Tax-News.com,
London 15/06/2007 |
| Business advisors
KPMG have warned taxpayers with offshore bank accounts that
they are unlikely to escape scrutiny from tax inspectors if
they fail to disclose under HM Revenue and Customs's offshore
bank account amnesty. [
FULL
STORY ] |
 |
Insurance Industry
Debates Proposed New Accounting Standards, by Robert Lee,
Tax-News.com, London 14/06/2007 |
| The proposed changes
to the way insurance contracts are reported will significantly
impact the way liabilities are valued, leading to greater subjectivity
in company accounts, according to business advisors Deloitte.
[ FULL
STORY ] |
 |
HMRC Announces
Massive Carousel Fraud Sting, by Jason Gorringe, Tax-News.com,
London 14/06/2007 |
| After one of the
biggest ever investigations by the UK's HM Revenue & Customs
(HMRC), involving nearly 100 mobile phone traders and two separate
criminal trials, six men behind a GBP85 million VAT fraud were
jailed for a total of more than 47 years on Tuesday.
[ FULL
STORY ] |
 |
'Radical' Tory
Tax Plans To Benefit UK Small Business, by Jason Gorringe,
Tax-News.com, London 14/06/2007 |
| Shadow Chancellor
George Osborne has announced that he is developing a 'radical'
package of measures aimed at cutting and simplifying tax for
small business in the UK. [
FULL
STORY ] |
United Kingdom Features
- THE
UK'S INTERNATIONAL COMPETITIVENESS - By
Jason Gorringe, London
The UK's International Competitiveness: an analysis of double
tax (onshore pooling), CFC rules and CGT treatment of corporate
disposals; and how recent budgets have affected them.
- THE
ONE THAT GOT AWAY - By Robert
Lee, London
We examine the international repercussions for Britain of Gordon
Brown's continuing failure to reform stamp duty legislation for
share transactions.
United Kingdom Knowledge
Base
- UNITED
KINGDOM INDIVIDUAL NON-RESIDENT TAXATION
- UNITED
KINGDOM SPECIAL EXPATRIATE FISCAL REGIME
- UNITED
KINGDOM CORPORATE TAXATION FOR RESIDENT MULTINATIONALS
- UNITED
KINGDOM FILM PARTNERSHIPS
- UNITED
KINGDOM VENTURE CAPITAL TRUSTS
- UNITED
KINGDOM REAL ESTATE INVESTMENT TRUSTS
|
|