News

HSBC implements dividend repurchase scheme to positive reception

HSBC Holdings Ltd has experienced the largest growth since April after announcing a $2.5 billion USD dividend repurchase scheme in partnership with Brazil whilst retaining its shares at the current level for the time being.


US criticises EU's strict treatment of American companies in Europe

The US Treasury has criticised the European Commission's (EC) policy of penalising American multinational companies for avoiding tax via state aid deals with individual EU member states.


Ireland also faces tax rulings for aiding legal tax evasion in Apple case

The EC announced it would be starting an investigation in 2014 to look at Ireland's selective tax treatment of conglomerates and providing illegal state aid to jurisdictions that has facilitated such loop hole. Similar investigations are taking place looking at Starbucks' relationship with the Netherlands,…


UK report illustrates the effect of non-domiciled tax reforms

The proposals mean that non-domiciles will no longer be able to mitigate UK inheritance tax on residential property in the UK through the use of an overseas company or trust, and permanent non-domiciled status will no longer be allowed for UK tax purposes. Those who have been UK tax resident for at…


Indonesia will open Tax Haven Island to stop overseas investment in Singapore

The government based in Jakarta has released plans to reserve two Indonesian islands near Singapore for the purpose of having its own tax haven to prevent taxpayers from keeping their investments overseas in rival jurisdiction Singapore.


German trust laws amended in favour of offering special inheritance tax rate

Germany’s Lower Tax Court based in Düsseldorf has made a ruling in the taxpayer’s favour regarding Germans living overseas to be entitled to receive a special exemption from German gift and inheritance tax.


What was the blacklist report that was released by the EC last month?

Last month, the EU Commission (EC) published a “black list” of jurisdictions that are non-cooperative. This list was comprised of 30 countries, which seemingly have been found to not meet transparency standards that are in line with the rest of the European Union.