Stories that are tagged 'G20'

	EU Fails To Unite On Basel III 5/10/2012 Despite a marathon round of intense negotiations in Brussels, led by the Danish Presidency of the European Union, EU Economic and Financial Affairs Council ministers failed to agree a common approach on the issue of more stringent capital standards.
	UK, India Hold Economic And Financial Dialogue 4/6/2012 The UK and India have held their annual Economic and Financial Dialogue, discussing ways to strengthen cooperation and boost trade and investment.
	Liechtenstein Initials TIEA With Japan 3/15/2012 Delegation leaders have recently initialled the bilateral tax information exchange agreement between Japan and Liechtenstein, following the conclusion of negotiations.
	France Backs New FATF Standards 2/21/2012 French Finance Minister François Baroin has welcomed the adoption of the new Financial Action Task Force anti-money laundering standards following a lengthy process undertaken in close consultation with the private sector and civil society.
	Jersey Hosts High-Level French Delegation 2/8/2012 Following a visit by a States-led delegation to address the French Parliament in June 2011, two leading members of the French Senate Finance Committee on February 6, 2012, have reciprocated by holding meetings with decisionmakers in Jersey.
	Australia Urged To Scrap 'Wasteful' Oil Tax Breaks 1/30/2012 The Australian Conservation Foundation has argued that the Federal Government could save up AUD2.3bn (USD2.4bn) in the 2012-13 Budget by scrapping wasteful and inefficient tax breaks to the oil and gas sector as well as other subsidies that promote the use of fossil fuels.
	India Signs Multilateral Tax Cooperation Convention 1/30/2012 India is the latest signatory to join the multilateral Convention on Mutual Administrative Assistance in Tax Matters, an agreement drafted to promote international tax cooperation.
	US Treasury Applauds FSB Progress On LEIs 1/24/2012 The United States Treasury has reiterated its support to the Financial Stability Board in its “progress in making the global financial system more transparent and less vulnerable to excessive risk-taking through the creation of a Legal Entity Identifier Expert Group.”
	Miliband Comments 'Lack Credibility', Say Guernsey, IoM 1/20/2012 Guernsey and the Isle of Man have joined Jersey in denouncing as erroneous the comments of the leader of the opposition Labour Party in the UK, Ed Miliband, in which he called for the European Union to take action against territories such as the Crown Dependencies on tax transparency concerns.
	Guernsey Concludes TIEA With India 12/26/2011 Guernsey has welcomed the signing of a Tax Information Exchange Agreement with India, said to be a major milestone in building business relations with the emerging market.
	Ireland Concerned At UK FTT Opt Out 12/15/2011 The fall-out from the UK's decision to walk away from European Union crisis talks continues, with the Irish Finance Minister Michael Noonan warning of his concerns over a financial transactions tax that excludes the City of London.
	France, Germany Work On Joint Tax Initiative 12/16/2011 French Finance Minister François Baroin has revealed that a Franco-German ‘contribution’ to the idea of a tax imposed on financial transactions in Europe is due to be presented on January 23, with a view to being ‘operational’ in 2013.
	Jersey Finance Welcomes New Tax Pacts 12/13/2011 Jersey Finance, the promotional agency for the island’s financial services industry, has welcomed the signing of two tax cooperation agreements with Japan and Poland and the commencement of negotiations with Hong Kong towards a double tax avoidance pact.
	Jersey Businesses Challenge Altered Transparency Goalposts 12/8/2011 The Jersey Chamber of Commerce, which represents Jersey's private sector businesses, has urged the island's decision makers to pause for thought prior to agreeing to a new raft of demands from advanced nations on tax information exchange.
	Panama Ditches French Credit Line On Tax Haven Slur 12/5/2011 The Panamanian government has announced its decision to withdraw from a multimillion funding arrangement with a French banking institution in retaliation for comments made by French Minister for the Budget and Public Accounts, Valerie Pecresse, in which Panama was labelled uncooperative in tax matters.
	UK Austerity 'The New Normal', Think Tank Says 11/25/2011 It is unrealistic to expect an instantaneous and painless economic recovery in the UK, a new report has said, arguing that a consistent and transparent tax environment is a fundamental characteristic of a dynamic growth economy.
	Cayman Praised For Robust Regulation 11/14/2011 The Cayman Islands' adherence to global regulatory and supervisory standards on international cooperation and information exchange has been found 'sufficiently strong' - the highest assessment possible - by the Financial Stability Board, in a report commissioned by the Group of Twenty nations.
	Canada, Barbados Amend DTA 11/10/2011 Canada and Barbados have inked a protocol to their existing double tax agreement, designed to bring the treaty up to date with modern standards on the exchange of information.
	EU Stalls On FTT 5/1/2012 During a recent European Union Economic and Financial Affairs Council meeting in Brussels, deep divisions emerged on the creation of a tax on financial transactions, leading to a likely delay in the presentation of new legislation to implement the levy at European level.
	Guernsey Confirmed As A Leader In Financial Stability 11/9/2011 The Guernsey authorities have welcomed a report commissioned for the recent G20 summit which recognizes that the jurisdiction has demonstrated strong adherence to international co-operation and information exchange.
	Canada Signs Revised Tax Information Exchange Agreement 11/9/2011 Canada has signed the updated Convention on Mutual Administrative Assistance in Tax Matters, Finance Minister Jim Flaherty has announced.
	IoM Commended by FSB 11/7/2011 The Isle of Man's Chief Minister Allan Bell has welcomed the territory's inclusion amongst countries seen as strongly adhering to international standards of cooperation and information exchange in a recent assessment conducted by the Financial Stability Board.
	G20 Leaders Endorse FSB's Regulatory Measures 11/8/2011 The recent G20 Leaders Summit in Cannes endorsed the implementation of various financial system reform measures developed by the Financial Stability Board, particularly strengthening the oversight of global systemically important financial institutions.
	Jersey Welcomes Indian TIEA 11/7/2011 Jersey has welcomed the signing of a tax information exchange agreement with Indian authorities, at the Indian High Commission in London on November 3.
	G20 Agrees New Tax Information Exchange Convention 11/7/2011 The Organisation for Economic and Cooperation Development has announced that G20 governments have agreed to a new multilateral Convention to enable developing countries to tackle tax evasion more effectively.
	FSB Tackles Shadow Banking Regulations 11/2/2011 The Financial Stability Board has published a report providing its recommendations on strengthening oversight and regulation of the shadow banking system, as was requested by the G20 Leaders at their November 2010 Summit in Seoul.
	Sarkozy Champions Tobin Tax Again 10/27/2011 Ahead of the G20 summit meeting in Cannes, French President Nicolas Sarkozy has called for public opinion to implore rich countries to accept the introduction of a financial transactions tax to finance development.
	G-20 Nations Failing To Honour Protectionism Pledges 10/27/2011 Disappointingly weak growth in some G-20 members is testing the political resolve of many governments to resist trade protectionism, says a new report from the World Trade Organization, the United Nations and the Organisation for Economic Cooperation and Development, which examines trade and investment measures implemented in the third quarter of 2011.
	FSB Urges More Progress On OTC Market Reform 10/19/2011 Few jurisdictions have the required legislation or regulations in place to provide the framework for implementing over-the-counter derivatives market reform, the Financial Stability Board has said.
	Crown Dependencies Discuss Regulation 10/18/2011 The boards of the financial services regulators in Guernsey, the Isle of Man and Jersey have met to discuss common issues affecting the islands and to share their regulatory knowledge and experience.
	Czech Republic Rejects EU Financial Tax 10/10/2011 The Czech Republic is firmly opposed to the idea, put forward recently by President of the European Commission José Manuel Barroso, of introducing a tax on financial transactions at European level, according to Czech Prime Minister Petr Necas.
	Barroso, Merkel Join Forces On FTT 10/10/2011 Following the recent meeting of German Chancellor Angela Merkel with the College of Commissioners, European Commission President José Manuel Barroso underlined the need for Europe to push for the introduction of a global financial transactions tax at the forthcoming G20 meeting in Cannes.
	Semeta Outlines Common Rules For European FTT 10/4/2011 The European Commission has outlined common rules for the introduction of the proposed financial transactions tax.
	Barroso Champions EU Tobin Tax 9/30/2011 Despite bitter opposition from the UK, European Commission President José Manuel Barroso recently gave his formal support in the European parliament in Strasbourg for the introduction of a financial transactions tax in all 27 member states.
	Cayman Islands Signs TIEA With China 9/27/2011 The Cayman Islands has announced that it has entered into a landmark agreement to share tax information with China.
	Franco-German Common Corporate Tax Plans Ahead Of Schedule 9/8/2011 Showing that Franco-German plans for tax harmonization are gathering pace, French Finance Minister François Baroin revealed that concrete proposals for a common corporate tax base and rate in France and Germany will be on the table as soon as next year.
	Guernsey Boosts Regulatory Ties With Germany 9/5/2011 The Guernsey Financial Services Commission has announced that it has entered into a cooperation agreement with Germany’s banking, insurance and securities regulator, BaFin.
	Jersey Signs TIEA With Argentina 8/4/2011 Jersey's Assistant Chief Minister, UK and International Relations, Freddie Cohen, has signed a tax information exchange agreement with Ricardo Daniel Echegaray, Head of the Argentine Federal Administration of Public Revenues.
	UK, India Ink Trade And Investment Deals 7/27/2011 The UK and India have held an economic and financial dialogue, discussing ways to strengthen mutual cooperation and boost bilateral trade and investment, while businesses signed new deals worth over GBP1bn (USD1.64bn).
	Jersey Signs TIEA With South Africa 7/22/2011 Jersey's Assistant Chief Minister and UK and International Relations Minister, Freddie Cohen has announced the signing of a tax information exchange agreement with South Africa.
	Deutsche Bank Chief Slams German Bank Tax 7/5/2011 During a recent meeting in Berlin, Head of Deutsche Bank Josef Ackermann challenged German Chancellor Angela Merkel on the issue of financial market regulation, lamenting in particular the introduction in Germany of the new bank levy.
	Guernsey Signs TIEA With Mexico 7/1/2011 The Guernsey government has announced the signing of a Tax Information Exchange Agreement with Mexico, its first such agreement with a Latin American country.
	Liechtenstein, Australia Sign TIEA 6/23/2011 Liechtenstein’s Prime Minister and Finance Minister Klaus Tschütscher and the Australian ambassador to Liechtenstein Peter Tesch have recently signed in Vaduz a bilateral tax information exchange agreement in accordance with the Organization for Economic Cooperation and Development’s standard.
	Semeta's Outlines Future 'Good Governance' Tax Goals 6/22/2011 During his keynote speech at the recent international tax conference in Stockholm, European Union Tax Commissioner Algirdas Semeta focused on the effect of the 'new world order', namely open, global, interconnected economies and societies as well as market forces, on taxation.
	France Votes 'Yes' To EU Tobin Tax 6/20/2011 Marking a significant step forward, albeit largely symbolic, the French National Assembly voted almost unanimously in favour of a European resolution seeking to introduce at European level a tax imposed on all financial transactions.
	Switzerland Passes Global Forum Review 6/8/2011 The Swiss Federal Administration has confirmed that the Confederation has passed the review on administrative assistance in tax matters carried out by the Global Forum.
	Liechtenstein Hosts Key Tax Talks 5/30/2011 During the latest meeting of German speaking finance ministers in Vaduz, the talks focussed on recent developments in the area of taxation and cooperation in tax matters, as well as on current international financial topics.
	EU Derivatives Trading Regulations Draw Closer 5/27/2011 New European Union legislation, drafted by the European Commission and designed to regulate the trade in derivatives, moved a step closer on May 24 following approval of amendments by the Economic Affairs Committee of the European Parliament.
	Channel Islands And Indonesia Sign Tax Agreements 5/4/2011 The governments of the Channel Islands, Guernsey and Jersey, have announced the initialling of Tax Information Exchange Agreements with Indonesia.
	OECD Publishes Seven Country Reviews On Tax Transparency 4/28/2011 The Organisation for Economic Cooperation and Development has published two new reports in its assessments of countries’ frameworks for facilitating the tackling of tax evasion through tax information exchange.
	Anti-Corruption Activities Falling Short, Says OECD 4/27/2011 The Organisation for Economic Cooperation and Development has released figures showing that, while there are 38 signatories to its Anti-Bribery Convention, only a remarkably small minority are actively engaging in the sanctioning of individuals and companies.
	FSB Examines ETFs And Shadow Banking 4/18/2011 The Financial Stability Board has published notes on financial stability issues in relation to exchange-traded funds and on its work to develop recommendations to strengthen the oversight and regulation of the shadow banking system.
	Economists Press G20 On Tobin Tax 4/14/2011 Ahead of an April 13 meeting of G20 finance ministers, 1,000 leading economists published a letter calling for the imposition of a financial services tax, the demand for which, according to the letter, is gathering momentum.
	Semeta Outlines EU Tax Agenda 3/31/2011 During a keynote address at this year’s Tax Forum in Brussels, European Union Commissioner for Taxation, Algirdas Semeta, set out his tax agenda for a fairer contribution from the financial sector, notably with a view to the introduction of a financial transactions tax.
	Credibility Of WTO Endangered, Warns Lamy 3/28/2011 The Director-General of the World Trade Organization,Pascal Lamy, said in a speech to the Annual Session of the Parliamentary Conference that nations must do everything in their power to ensure the success of the Doha Round or risk a 'catastrophic weakening to the credibility of the WTO.'
	Barbados Sounds The Alarm On OECD Listing 3/24/2011 In a rare assault on the Organisation for Economic Cooperation and Development – the body responsible for enforcing tax transparency standards – Barbados has insisted it won’t 'roll over and play dead' as the Organization attempts to blacklist the territory as 'uncooperative.'
	Fillon Confirms Abolition Of French Tax Shield 3/7/2011 During an opening address at the colloquium on taxation and wealth, French Prime Minister François Fillon confirmed government plans to abolish the highly controversial tax shield mechanism, and to exempt from wealth tax around 300,000 households in France.
	Doha Round Progressing But Lacking Momentum 2/24/2011 Summarizing the discussions of the World Trade Organization's Trade Negotiation Committee in their latest, informal meeting, the Organization's Director-General, Pascal Lamy warned that 'a major acceleration' is needed to complete the Doha Round.
	France's Drive For EU Tobin Tax 2/22/2011 During a recent interview, French Finance Minister Christine Lagarde expressed her doubts that G20 nations will be able to unite on a financial transactions tax during France’s presidency, particularly in view of America’s hostility towards the mechanism.
	French To Push For Tobin Tax At G20 2/15/2011 French Finance Minister Christine Lagarde has recently confirmed France’s intention to put forward the idea of creating a tax on financial transactions at the forthcoming G20 meeting in France, despite continuing opposition from certain members of the group.
	Bahamas Signs TIEA With India 2/15/2011 The Bahamas has signed its 24th Tax Information Exchange Agreement a mere two weeks after becoming a signatory to its 23rd.
	Liechtenstein Adopts Financial Service Sector Bill 2/11/2011 During its sitting on February 1, Liechtenstein’s government adopted the report and application pertaining to the amendment of the principality’s Banking Act, Payment Services Act, E-Money Act, and Market Abuse Act.
	Germany's CDU Backs Tobin Tax 2/9/2011 Determined not to have their plans blocked by Europe, Germany’s ruling Christian Democratic Union party is reportedly considering the idea of joining forces with France and Austria, and pressing full steam ahead with the introduction of a financial transactions tax.
	Bahamas Concludes 23rd TIEA, With Japan 1/31/2011 An agreement for the exchange of tax information between the Bahamas and Japan, for the purpose of the prevention of fiscal evasion, and also - uniquely - for the allocation of the countries’ taxing rights with respect to individuals’ income, was signed on January 27, 2011.
	Sarkozy Renews Drive For Financial Transactions Tax 1/27/2011 During a recent press conference presenting France’s presidency of the G20 and the G8, French President Nicolas Sarkozy once again underlined France’s support for the introduction of a tax levied on financial transactions.
	Guernsey Not Adopting Solvency II Framework 1/26/2011 Guernsey authorities have announced that there are no plans for the island to seek equivalence under the European Union’s proposed Solvency II framework.
	Brussels Launches Consultation On EU Bank Failure Framework 1/12/2011 The European Commission is currently seeking views on a possible European Union framework to deal with future bank failures.
	CARICOM Seeks Greater International Say 12/24/2010 The Secretary General of the Caribbean Community (CARICOM), Edwin Carrington, at the first CARICOM-Australia High Level Meeting in Guyana on December 17, called on Australia to support its efforts to gain increased representation in international fora on issues pertinent to the Caribbean region, and its development.
	China, EU Discuss Untapped Trade Flow Potential 12/22/2010 The EU and China held the second, and final day of their third High Level Economic and Trade Dialogue on December 21, at what was the first meeting between the two parties since the entry into force of the Lisbon Treaty.
	Jersey Signs TIEAs With Turkey, Mexico 11/29/2010 Jersey Finance welcomed the signing of two further Tax Information Exchange Agreements last week, with Turkey and Mexico.
	Top UK Businesses Welcome CFC Reform Progress 11/26/2010 PwC, in anticipation of the release of the government’s discussion document on corporate tax and controlled foreign company reform, has surveyed over 60 leading UK businesses.
	Ireland Teetering On The Brink 11/15/2010 Ireland has admitted that its finances are in crisis, as investors question the country's ability to go it alone in tackling its deficit without European support.
	Jersey Captures More Asia Business 11/8/2010 Establishing a permanent presence in Hong Kong last year has helped Jersey’s finance industry grow banking and corporate listings business significantly and is opening up a number of new opportunities, according to figures published by Jersey Finance, the promotional agency for the island’s financial services industry.
	Craine Stands Up For Offshore IFCs 11/5/2010 The Isle of Man's positive contribution to the City of London and the wider global economy was highlighted on November 2, as the island’s Treasury Minister, Anne Craine, delivered the prestigious Sir Thomas Gresham Docklands Lecture.
	EU Sees Increase In Restrictive Trade Barriers 10/27/2010 A new report published by the European Commission shows that more than 330 trade restrictive measures have been taken by the major trade partners of the European Union since the outbreak of the financial and economic crisis in 2008.
	IOSCO Forms Task Force On OTC Derivatives 10/19/2010 The Technical Committee of the International Organization of Securities Commissions has formed a task force on over-the-counter derivatives markets’ regulation, in order to coordinate securities and futures regulators’ efforts to work together in those markets.
	Switzerland Prepares 'Too Big To Fail' Bill 10/14/2010 Trying to limit the economic risks posed by big banks, the Swiss Federal Council has welcomed proposals submitted recently by the 'too big to fail' commission of experts, and has instructed the Federal Department of Finance to prepare a draft consultation paper by the start of 2011.
	German Bankers Oppose Plans For Big Banks 10/15/2010 The Association of German Banks has expressed its fierce opposition to plans to increase own capital requirements for large banks.
	France Adopts Banking And Financial Regulation Bill 10/14/2010 The French parliament has definitively adopted the government’s banking and financial regulation bill, designed to draw lessons from the global economic crisis by tightening the regulation and supervision of the banks and financial markets in France.
	Bermuda's Tax Transparency Lauded By OECD 10/11/2010 Bermuda has welcomed positive feedback from the Organisation for Economic Cooperation and Development’s Global Forum on Transparency and Exchange of Information, with respect to its adoption of best standards in terms of tax transparency.
	EU Favours 'FAT' Tax On Finance 10/11/2010 The prospect of Europe proceeding unilaterally with a financial transactions tax is becoming increasingly unlikely as European Taxation Commissioner Algirdas Semeta has rejected calls for the introduction of such a tax by Germany, France and Austria, warning that the tax only makes sense at global level, given that the financial sector is very mobile, and emphasizing that this is currently not feasible.
	Jersey Discusses Tax In UK 10/7/2010 Jersey’s finance industry was invited to discuss the role that Jersey plays in attracting international business to the UK, at the Conservative Party Conference, held last week.
	UK Businesses Back Anti-Tax Avoidance Drive 9/27/2010 A survey by accounting and consultancy firm RSM Tenon has found resounding support for HM Revenue and Customs's stated intention to increase funding to tackle tax avoidance in the UK, with only 9% opposed to increasing funding in this area.
	Sarkozy Renews Drive For Tobin Tax 9/23/2010 During his speech at the United Nations summit meeting held in New York, French President Nicolas Sarkozy announced that France would increase funds to fight AIDS and malaria by 20% over the course of the next three years, and also called for the creation of a financial transactions tax to finance development aid.
	Basel Committee Issues New Bank Capital Rules 9/15/2010 The Basel Committee on Banking Supervision has announced a revision of minimum bank capital requirements that, as could have been expected, are a compromise between a substantial strengthening of the existing requirements while also granting a long transition period for the weaker banks, particularly in Europe.
	Lamy Pushes For Conclusion Of Doha Round 9/10/2010 Pascal Lamy, director general of the World Trade Organization, has met with Korean president, Lee Myung-bak, in Seoul in order to add impetus to the Doha Development Agenda at the upcoming G20 Summit to be hosted on November 10-11 in Seoul by Korea.
	French Tax Audits Harvest EUR14.7bn 8/3/2010 The French Budget Ministry has recently published the 2009 annual activity report produced by the Public Finances General Directorate, revealing that the French tax administration generated in the region of EUR14.7bn in 2009 as a result of both documentary and on-the spot tax audits conducted that year.
	Germany, Monaco Sign TIEA 8/3/2010 Germany and the principality of Monaco have signed in Berlin a bilateral tax information exchange agreement, marking an important step in combating tax evasion.
	Europe Opposes US Offshore Insurance Bill 7/29/2010 The European insurance and reinsurance federation has suggested to the US House of Representatives that proposals to change the US tax treatment of reinsurance between affiliated entities could be in contravention of America's World Trade Organization commitments.
	UK Minister Makes Headway In Offshore Territories Debate 7/26/2010 The IFC Forum, composed of leading Channel Islands’ law firms, has issued a statement welcoming the debate in the UK parliament calling for an ‘informed, consistent and balanced’ debate on the role of offshore centers in the global economy. The body welcomed agreement from the UK government that an evidence-based approach should be adopted in future policy-making on offshore financial centres, both nationally, and in international fora.
	Basel Committee Reviews Bank Reforms 7/21/2010 After its recent two-day meeting, the Basel Committee on Banking Supervision confirmed that it has developed concrete recommendations for completing its package of regulatory reforms, which is required to be ready for the G20 Leaders Summit in November.
	Portugal, Guernsey Sign TIEA 7/16/2010 The Guernsey government has noted the recent signing of a Tax Information Exchange Agreement with Portugal, concluded in London.
	Semeta Cautions On EU Financial Tax 7/15/2010 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.
	Schäuble Seeks EU Financial Transactions Tax 7/7/2010 Having failed to secure a consensus for the introduction of a global financial transactions tax at the G20 summit meeting in Toronto, Germany’s Finance Minister Wolfgang Schäuble has announced his intention to step up the tempo for a proposal at European Union level.
	G20 Looks At Financial Regulatory Reforms 7/1/2010 The G20 group of nations, at their summit in Toronto, discussed proposals for far-reaching regulatory reforms to strengthen the global financial system.
	Gurria Calls For New Fiscal Balance 6/30/2010 Addressing the Group of 20 Business Summit, Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development, spoke on the difficulty of balancing fiscal consolidation with the support of a job-rich recovery.
	EU Reaches Bank Tax Agreement 6/21/2010 The EU has reached agreement on the imposition of a tax on banks and the publication of their "solvency tests".
	France Adopts Banking Regulation Bill 6/17/2010 The French National Assembly has adopted, at a first reading, a banking and financial regulation bill, designed to tighten the regulation and supervision of financial markets in France.
	Use Of IFCs Misconceived By G20 Taxpayers 6/16/2010 A survey released last week by Invest Barbados showed that the majority of people in the G20 nations of the US, UK and Canada are opposed to investments in offshore international financial centers with Americans exhibiting the strongest opposition. This opposition changes to overwhelming support once the public are made aware of the benefits of such foreign investment on the home economy, the survey however found.
	Merkel, Sarkozy Call For Bank Tax 6/15/2010 Germany’s Chancellor, Angela Merkel, and France’s President, Nicolas Sarkozy, have decided to forward a joint letter to the G-20 to request the adoption of both a global banking levy and a financial transaction tax.

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