Stories that are tagged 'professionals'

	UK Government Blasted Over IR35 Proposals 5/14/2012 HMRC has missed a great opportunity to bring clarity, transparency and fairness in dealing with the intermediaries legislation commonly referred to as IR35, according to members of the freelance community who were invited on to the Treasury forum to discus the issue.
	Hong Kong Still Sees Problems On Mainland Services 5/11/2012 Secretary for Commerce and Economic Development, Gregory So, has replied to a question in the Legislative Council regarding the tax and procedural difficulties being experienced by the Hong Kong services sector in developing business in Mainland China.
	IoM Will Not Follow UK's Lead On Taxing Business Jets 5/7/2012 The Isle of Man's Treasury Minister, Eddie Teare has confirmed that, despite the territory maintaining many similar elements to the United Kingdom tax regime, the island will not follow suit with the UK government's decision to begin taxing small business aircraft under the Air Passenger Duty regime.
	HMRC Issues Electrician Amnesty Reminder 5/7/2012 HM Revenue and Customs has issued a reminder warning electricians that they have only a limited time left to register for a tax amnesty scheme that would allow them to pay any undisclosed tax owed.
	Further Attacks Launched On Italian Tax Evaders 5/1/2012 Following an announcement by the Italian financial police, Guardia di Finanza, that it has already uncovered substantial amounts of undeclared income in the first four months of 2012, the Italian Revenue Agency launched countrywide anti-evasion checks during the May Day holidays.
	Canada Targets Immigrant Entrepreneurs 4/26/2012 The Canadian government has launched consultations on plans for a new 'start-up visa' designed to attract immigrant entrepreneurs and bolster the economy.
	Taiwan Mulls Reduced Tax Rate For Expatriates 4/20/2012 It is likely that the government will propose measures to attract foreign professionals and other white-collar managers to Taiwan, on the instigation of the Taiwanese Premier Sean Chen.
	Philippines Targets Over USD930m From 100 Tax Cases 4/4/2012 At a press briefing at the Department of Justice, the Philippines’ Bureau of Internal Revenue confirmed that it has now filed a total of 100 cases under its Run After Tax Evaders scheme since the start of President Benigno Aquino’s government.
	HMRC Launches UK Tax Academy 3/30/2012 HM Revenue and Customs has launched a new Tax Academy in the UK, offering staff the chance to work towards two professional degrees.
	Cantor Proposes US Small Business Tax Cut 3/23/2012 The United States House of Representatives Majority Leader Eric Cantor has introduced the Small Business Tax Cut Act of 2012, aimed at helping small businesses to grow and to hire new workers.
	UK To Give Shareholders More Say On Bosses' Pay 3/22/2012 New reforms proposed by the UK government will enhance shareholder company rights in order to provide greater influence over executive pay.
	Jersey Embarks On Major Gulf Promotional Tour 3/20/2012 The Jersey government has announced that a convention for the avoidance of double taxation and fiscal evasion will be signed with Qatar during its current promotional trip to the Gulf region.
	Ernst And Young Returns To The BVI 3/19/2012 Ernst and Young, one of the 'big four' accounting firms, has announced its decision to re-establish an office in the British Virgin Islands after a multi-year absence, attracted by the territory's strong financial services legislation and regulatory regime.
	Interest In Guernsey As A Film Finance Centre Grows 3/16/2012 Guernsey's latest London seminar, to showcase the island's offerings as a leading international film finance centre, has been hailed a success after attracting an audience of over 100 senior members of the UK film community.
	France Welcomes 2011 AML Unit Results 3/14/2012 French Finance Minister François Baroin and Budget Minister Valérie Pécresse have recently welcomed the 2011 results of Tracfin, the ministry’s national anti-money laundering unit.
	HMRC Issues UK Amnesty Deadline Reminder 3/12/2012 HM Revenue and Customs has issued a reminder to tutors and coaches that they have less than a month left to take advantage of a tax amnesty scheme.
	Swiss Lawmakers Back Bonus Tax 3/12/2012 Marking an about-turn, the Swiss National Council has narrowly voted in favour of plans to impose a tax on large bonuses in Switzerland in excess of CHF3m (EUR2.5m) (USD3.3m).
	US Court Closes Employee Insurance Benefit Tax Scheme 3/12/2012 The United States Justice Department has announced that a federal court has permanently barred the operation of an alleged scheme that helps high-income individuals attempt to avoid income taxes by funnelling money through purported "welfare benefit plans”.
	Philippines Rejects IMF Call For New Taxes 3/9/2012 Presidential spokesman Edwin Lacierda has confirmed that, contrary to suggestions by the International Monetary Fund, the Philippines will not be introducing any new taxes in the near future.
	French Union Seeks Tax Justice For Artisans 3/7/2012 The French professional union of artisans has recently criticized the lack of provision in the government’s 2012 collective bill for a reduction in employers’ social contributions for independent workers in France, in return for the planned 1.6% rise in the 19.6% standard rate of value-added tax from October 1.
	DIFC Boosts Collaboration With London 3/6/2012 The Dubai International Financial Centre and a body representing London's City have signed a new partnership agreement designed to boost collaboration between the financial centres.
	HK Firms Face Chinese Barriers Despite CEPA 3/2/2012 Following questions in Hong Kong’s Legislative Council, the Secretary for Commerce and Economic Development, Gregory So, has given an assurance that the government will continue to monitor the operation of market liberalization measures under the Mainland and Hong Kong Closer Economic Partnership Arrangement.
	Gibraltar Puts Court Judgements Online 2/24/2012 The Gibraltar government has announced the launch a web portal to provide users with access to electronic copies of Supreme Court, Court of Appeal and Privy Council judgements, as an enhancement to the existing Gibraltar Laws website.
	Isle Of Man Lures Another Gaming Company 2/23/2012 The Isle of Man government has welcomed the successful application of TWLV for a license to operate a new online bingo site from the island.
	Hiring Trends Show Mixed Fortunes For Cyprus 2/24/2012 Figures from a Cyprus recruitment agency indicate that while the banking and finance sectors enjoyed mixed fortunes last year, hiring overall was up 11% last year.
	FATF Adopts Revised International AML Standards 2/20/2012 The Financial Action Task Force anti-money laundering standards have been revised to strengthen global safeguards and further protect the integrity of the financial system, by providing governments with stronger tools to take action against financial and tax crimes.
	Hong Kong Tax Residence Rule Questioned 2/13/2012 Following a question in Hong Kong’s Legislative Council, the Secretary for Financial Services and the Treasury, Professor K C Chan, has provided numbers for the Hong Kong residents caught by the 183-day income tax threshold for working or staying within Mainland China.
	UK Outlines 2012 Tax Enforcement Plans 2/13/2012 The UK tax authority, HM Revenue and Customs has outlined that in the coming year it will focus its tax enforcement efforts on taxpayers that fail to make tax returns and those that are liable to pay tax at the highest personal income tax rates, as well as launching targeted campaigns in two specific sectors.
	Philippines Tax Man To Target Professionals 2/3/2012 The Philippines Bureau of Internal Revenue has received an instruction from Finance Secretary Cesar Purisima to formulate policies leading to a substantial increase in the income tax compliance of the country’s professionals and self-employed.
	Irish Fiscal Advisory Council Issues Report 1/27/2012 Ireland's Fiscal Advisory Council has issued its latest report which assesses elements of the government's plans for overhauling the country's budgetary framework.
	UK Gives Commonwealth Games Athletes Tax Boost 1/30/2012 Athletes resident outside of the UK who compete at the 2014 Commonwealth Games will be exempt from income tax, the government has announced.
	UK Tackles Abuse Of Post-Cessation Trade Relief 1/16/2012 The UK government has announced that it is to introduce new legislation to block a tax avoidance scheme involving post-cessation trade relief.
	Philippine Gambling Authority Settles Tax Dispute 1/9/2012 The Philippine Amusement and Gaming Corporation (PAGCOR) has settled unpaid back taxes incurred under the agency’s previous administration amounting to almost PHP857m (USD13.3m) as the government seeks to boost its overall tax take.
	HMRC To Review Business Checks Programme 1/6/2012 The UK tax authority HM Revenue and Customs has announced a review of its controversial Business Records Checks (BRCs) project following reports that the compliance scheme was unfairly burdening small businesses.
	Guernsey To Levy Immigrant Fees 1/4/2012 Fees are to be introduced by Guernsey for citizens from non-EU countries wishing to stay permanently or on a temporary basis from February 2012, in line with fees in place in other territories such as the UK.
	GBP1bn Tax Boost For UK Charities 12/29/2011 UK charitable donations could be 'turbo-charged' under new plans from a think-tank which include proposals for the introduction of a new tax relief.
	Philippines Looks To Increase Individual Income Tax Revenue In 2012 12/27/2011 The Philippines’ Bureau of Internal Revenue has disclosed that it will raise its budget in 2012 and plans to increase its collection of individual income tax by some 15%.
	IRS Tightens Tax Credit Regulations 12/22/2011 The United States Internal Revenue Service has issued final regulations requiring paid tax return preparers to file a due diligence checklist with any federal return claiming the Earned Income Tax Credit.
	Tokyo Tops Cost League For Expat Workers 12/15/2011 Tokyo remains the most expensive city in the world for international assignees as the rising value of the yen continues to put upward pressure on the cost of living in the country, according to a new report.
	Belgium's Company Car Tax Reform Plans Criticized 12/13/2011 Government plans to reform the existing tax regime pertaining to company cars in Belgium, agreed within the framework of intense negotiations on the country’s 2012 budget, are expected to significantly increase the tax burden on individuals.
	Faymann Fights For Higher Austrian Wealth Taxes 12/14/2011 Austrian Chancellor Werner Faymann has underlined that wealth related taxes are simply a 'matter of fairness' and that in order to consolidate the budget, revenue measures are needed alongside expenditure measures.
	Switzerland Rejects Controversial Bonus Tax 12/9/2011 Despite backing from both the Council of States and the Federal Council, Switzerland’s lower house of parliament, the National Council, has rejected the proposal seeking to introduce a bonus tax in the Confederation.
	Bermuda Lays Down Welcome Mat For Investors 12/12/2011 Bermuda's Premier, Paula Cox, has outlined details of the government's Incentive for Job Makers Act 2011, which will ease work permit and residency restrictions for senior management and wealthy investors, a move which is expected to boost Bermuda's appeal as an international financial centre.
	UK Delays Residency Test 12/9/2011 The Finance Bill offers a mixed bag to the UK's non-domiciled individuals, imposing on them a higher annual charge but delaying the introduction of a planned residence test for a year.
	No Tax Rule Change For Hong Kong's Frontier Workers 11/30/2011 In a written reply to a question in the Legislative Council, the Secretary for Financial Services and the Treasury, Professor K C Chan, confirmed that the Hong Kong and Mainland China tax authorities were not, currently, considering a change in tax rules for cross-boundary workers.
	UK Tax 'Drives Away Wealth Creators' 11/28/2011 The UK faces a lost generation of wealth creators, with the 50% top rate of income tax set to push them away and cost the economy billions, a new report has said.
	IRS Moves To Next Phase Of Return Preparer Initiative 11/28/2011 The United States Internal Revenue Service has disclosed that is moving into the next phase of its effort to improve the tax preparation industry by launching the new Registered Tax Return Preparer competency test.
	HMRC Targets UK's Doctors And Dentists 11/18/2011 The UK's doctors and dentists will feel the force of the taxman in the coming weeks, with 2,500 expected to receive letters warning them that they must get their tax affairs in order.
	Malta Cuts Tax Burden In 2012 Budget 11/17/2011 Malta's Minister of Finance, Economy and Investment Tonio Fenech has announced numerous tax measures in the territory's budget for 2012, many of which reduce the tax burden on islanders and enhance the island's appeal to international investors.
	Philippines Encourages Professionals To Pay Their Taxes 11/10/2011 The Bureau of Internal Revenue is urging professionals in the Philippines to comply with tax laws and file their income tax returns correctly and on time.
	Chan Confirms Strategic Role Of Hong Kong's Financial Sector 11/8/2011 At a forum on the current opportunities and challenges for Hong Kong finance professionals, Secretary for Financial Services and the Treasury, Professor KC Chan, has confirmed that the financial industry is a key strategic component of Hong Kong’s modern service industry.
	Cyprus Referred To ECJ Over Car Import Tax 10/31/2011 The European Commission has announced its decision to refer Cyprus to the European Court of Justice as it considers that Cypriot law discriminates against non-Cypriot EU citizens who transfer vehicles into Cyprus.
	French Lawmakers Back Top Earner Tax 10/21/2011 Within the framework of the government’s 2012 budget bill, the French National Assembly has adopted the provision introducing an exceptional tax on top earners in France.
	UK Non-Doms Urged To Plan Their Tax Affairs 10/19/2011 Non-domiciled individuals should seek advice on the UK tax system, as tax planning opportunities may remain available to them, a leading firm of chartered accountants has said.
	Dutch Cities Oppose Changes To Expat Tax 10/18/2011 Amid wider concerns of a negative impact on international businesses, Amsterdam city council has submitted a letter to Dutch State Secretary of Finance Frans Weekers urging him to reconsider plans to amend the country’s popular 30% tax ruling for expatriate workers.
	UK Tax Relief Changes To Hit Pension Contributions 10/17/2011 Self Invested Pension Plans and Small Self Administered Schemes will see their fund flow reduced as a result of reductions in tax relief, new research has revealed.
	New UK Tax Crackdown Targets Tutors 10/12/2011 The UK tax authority, HM Revenue and Customs, has turned its attention to private tutors and coaches with undeclared tax liabilities, as part of its ongoing clampdown on tax evasion.
	IRS Tightens Tax Credit Compliance Checks 10/7/2011 The United States Internal Revenue Service has announced that it is issuing proposed regulations that would require paid tax return preparers, beginning in 2012, to file a due diligence checklist with any federal return claiming the Earned Income Tax Credit.
	50% Tax Rate 'Damaging The UK', Survey Finds 10/7/2011 The UK's top rate of tax is damaging the country, according to a new survey, with financial services practitioners weighing in on the ongoing debate.
	Switzerland Reaches Out To Over-Taxed HNWIs 10/6/2011 Swiss cities including Bern, Lausanne, Lugarno and Lucerne have launched a new marketing campaign promoting the low taxes and the business benefits of moving to Switzerland, targeting UK companies and wealthy individuals suffering from a serious case of the fiscal blues.
	Austria's ÖVP Split On Higher Top Earner Tax 10/5/2011 Provoking outrage among members of his own Austrian People’s Party, Lower Austria’s governor Erwin Pröll has nevertheless sparked a glimmer of hope from coalition partner the Social Democrats that a compromise might be reached on a higher tax to be imposed on the country’s top earners.
	Australia Consults On Standard Deduction 9/30/2011 Exposure draft legislation has been released for public consultation by the Australian government on proposals to provide individual taxpayers with a standard deduction for work-related expenses and the cost of managing tax affairs.
	Qatar Becoming A Financial Force To Be Reckoned With 9/29/2011 Qatar has kept its position of 30th place in the recently published Global Financial Centres Index, however it has risen 39 points to rank as the leading centre in the Middle East for the first time.
	Chinese Companies To 'Go Global' Through Hong Kong 9/13/2011 At a press conference and seminar at the 15th China International Fair for Investment and Trade in Xiamen, Fujian Province, Invest Hong Kong encouraged Chinese Mainland enterprises to build up brands and access the world market through Hong Kong.
	Philippines Expects Higher Income Tax Take 9/7/2011 The Bureau of Internal Revenue is aiming to increase individual income tax collections by at least 20% in 2011, as a result of its campaign in the Philippines to check the tax affairs of professionals and self-employed individuals.
	Qualified Backing For UK Tax Agents Review 8/15/2011 The UK's plans for a system of enrolment for professional tax agents has received heavily qualified support from tax practitioners, who say that while the proposals are a move in the right direction, outstanding issues must be addressed.
	Australian Tax Forum Discussion Paper Released 8/3/2011 The Australian government has released a discussion paper to inform public debate on priorities and directions for continuing tax reform in the lead-up to the proposed Tax Forum being held in October.
	Singapore Enhances International Tax Training 7/26/2011 Singapore's Minister of State for Finance and Transport, Josephine Teo, in her speech to the annual conference of the Tax Academy of Singapore, said that, as Singapore is home to a large number of multinational enterprises, it is vital that tax professionals have the skills to meet the challenges of an increasingly complex tax environment.
	HMRC Loses Another IR35 Case 7/18/2011 The first tier tax tribunal in the UK has ruled in favour of a freelance contractor in a long-running tax dispute, casting yet more doubt on HM Revenue and Customs's seemingly fruitless policy of pursuing freelancers thought not to be genuinely trading by applying the Intermediaries legislation.
	UK Seeks Views On Income Tax-NI Merger 7/15/2011 Ahead of a planned consultation in the autumn, the UK government has called for evidence on the possible integration of the income tax and National Insurance contributions systems.
	France Mulls Tax On Executive Pay 7/4/2011 Following a recent meeting with the French association of private enterprises, French Labour Minister Xavier Bertrand unveiled details of government plans to increase the tax burden on companies in France according ‘extravagant’ salaries to their top business executives.
	Italian Small Business Against Any VAT Increase 6/24/2011 During his address to the 2011 general assembly of Confcommercio, the federation representing Italian small and medium-sized enterprises, professionals and sole traders, its President Carlo Sangalli agreed that tax reform was necessary as soon as possible, but not if it involved the raising of the rate of value-added tax.
	Jersey Strengthens Relationship With China 6/20/2011 Tangible benefits to Jersey are now being realised as a result of the ongoing commitment to building relationships with China, according to the head of the body that promotes Jersey as a finance centre.
	HMRC Targets Tutors And Traders 6/14/2011 The UK is to launch a series of further tax evasion crack-down schemes over the next year, tackling private tutors, e-marketplaces and traders, using new technologies to target suspects.
	Jersey's Promotion Agency Returns To China 6/9/2011 A delegation from Channel Island Jersey will be embarking on a tour of mainland China and Hong Kong this week in order to further strengthen ties with Greater China.
	Hong Kong Hopes To Become Arbitration Hub 6/6/2011 At a joint reception organized by the Ministry of Justice and the Hong Kong International Arbitration Centre, the Secretary for Justice, Wong Yan Lung, has expressed the government's determination to underpin Hong Kong as a leading international arbitration centre in the Asia Pacific.
	UK's Disguised Remuneration Laws 'Too Complex' 5/18/2011 The UK's introduction of new changes to its disguised remuneration regime has been slated as far too complex, and criticized for involving penal legislation that risks creating problems as well as solving them, according to the Chartered Institute of Taxation's response to the proposals.
	Guernsey To Publish Land-Use Plan 4/27/2011 The Guernsey government has announced that it is progressing its Strategic Land Use Plan following public consultation on meeting housing and development needs in Guernsey over the next 10 to 20 years.
	Australia Releases Tax Adviser Compliance Guide 4/22/2011 The Australian Commissioner of Taxation Michael D’Ascenzo has launched a new guide to help tax intermediaries avoid contravening the Promoter Penalty Legislation.
	Jersey Finance Targeting Affluent Russians 4/25/2011 New quality business is ripe for the picking in Russia as growing numbers accumulate wealth, according to Jersey Finance, the government's financial services industry promotional body.
	Philippines BIR Puts Professionals Under Microscope 4/12/2011 The Bureau of Internal Revenue is conducting a campaign in the Philippines to check the tax affairs of professionals and self-employed individuals, such as doctors, engineers and lawyers.
	Jersey Expands Presence In GCC And India 4/8/2011 Jersey has stepped up its business connections in both India and the Gulf region following recent formal visits by government-led delegations and through the establishment of a permanent presence in the region.
	Guernsey To Monitor Housing Stocks 3/28/2011 The Guernsey government has announced that it is to enhance its monitoring of Guernsey housing stocks for non-residents, under the Corporate Housing Programme, through the publication of Annual Housing Stock Bulletins.
	Philippines Looks To Reform Simplified Income Tax 3/21/2011 The Philippines’ House of Representatives Committee on Ways and Means has approved a bill simplifying the net income taxation scheme that will limit the allowable business deductions from gross revenues for self-employed individuals and professionals.
	Dunne Outlines NZ Tax Reforms 3/17/2011 Continuity and change was the theme of Peter Dunne’s speech to the International Fiscal Association Conference in Wellington last week.
	Italian Business Calls Again For Tax Reform 3/2/2011 Carlo Sangalli, the president of Confcommercio, and Emma Marcegaglia, the president of Confindustria, have both made further calls for the Italian government to produce immediately its plans for tax reforms.
	Hong Kong To Implement New Professional Investor Rules 2/28/2011 After the conclusion of a consultation which it launched in October last year, Hong Kong's Securities and Futures Commission has announced that it will proceed with proposals to refine the requirements for evidencing whether a person qualifies as a high-net-worth professional investor.
	Guernsey's Future Lies In Emerging Markets 2/23/2011 Debate at a recent forum on trusts in Guernsey has highlighted how the local trust sector is increasingly looking to explore opportunities in emerging markets, according to Peter Niven, the Chief Executive of Guernsey Finance – the promotional agency that represents the island's financial services industry.
	Switzerland Leads European Innovation 2/16/2011 According to the European Commission’s Innovation Union Scoreboard 2010, Switzerland once again ranks top among innovating countries in Europe.
	Luxembourg Presents Financial Centre Action Plan 2/11/2011 Luxembourg’s Finance Minister Luc Frieden has recently presented details of work carried out by the High Committee responsible for the country’s financial centre, and unveiled details of the key development axes for the financial centre in 2011.
	SVG Budget Focuses On Property Tax 2/3/2011 Prime Minister and Finance Minister of Caribbean territory Saint Vincent and the Grenadines, Dr Ralph Gonsalves has detailed a number of increases to taxation in the territory in his 2011 Budget.
	Hong Kong Promoted As International Legal Service Centre 1/24/2011 At the new Hong Kong Economic and Trade Office in Berlin, a delegation headed by the President of the Law Society of Hong Kong, Huen Wong, promoted Hong Kong as an international legal platform for doing, in particular, cross-border business and investment deals in China and Asia.
	Ireland Publishes Disclosure Regulations 1/21/2011 Minister for Finance, Brian Lenihan, has noted the publication by the country’s tax authority, the Revenue Commissioners, of the Mandatory Disclosure of Certain Transactions Regulations 2011.
	Tax Demand On Infosys Surprises Industry 1/24/2011 Bangalore-based Infosys Technologies Ltd, India’s second largest software firm, has said that it will appeal against a demand from the Indian Tax Office for INR4.57bn (USD100m) for work done overseas.
	Australia Proposes New Law On GST Exemptions 1/12/2011 As part of the Australian Government's ongoing efforts to simplify Australia's tax laws, the Assistant Treasurer is proposing new legislation to change how to determine which taxes, fees and charges are exempt from the Goods and Services Tax.
	AICPA Seeks Clarification On IRS Compliance Visits 1/7/2011 The American Institute of Certified Public Accountants has written to the United States Internal Revenue Service pointing out that tax preparers, who will be visited under its 2011 compliance program, need clarification about certain aspects of those visits.
	Luxembourg Launches Islamic Finance Guide 1/3/2011 Luxembourg for Finance – the agency with responsibility for the development of Luxembourg's financial centre – has enhanced its website through the addition of a section dedicated to shariah-compliant products and services.
	Italy's Lower House Approves Tax Reform Motion 12/28/2010 At the end of the parliamentary session and with the help of votes across all parties, the Italian Democratic Party, at the instigation of its National Secretary, Pier Luigi Bersani, was able to pass a motion through the lower house which committed the government to tax reform.
	France Adopts 2011 Finance Bill 12/17/2010 The French parliament has definitively adopted the country’s 2011 finance bill, providing for a historic deficit reduction of EUR60bn and for a reduction of existing tax breaks in France of almost EUR10bn.
	IRS Reminds Paid Tax Preparers To Register For PTINs 12/16/2010 The United States Internal Revenue Service is strongly urging paid tax return preparers to register now for their new or renewed Preparer Tax Identification Numbers to avoid any last-minute rush.

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