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Swiss Asset Managers Slam 'Incoherent' Financial Centre Strategy
5/16/2012 During its general assembly in Zurich, the Swiss Association of Asset
Managers criticized the government’s ‘white money strategy’,
a new financial market policy geared towards the management of taxed assets, calling instead
for a coherent strategy for the Swiss financial centre.
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Mexico, Qatar Sign DTA
5/15/2012 On May 14, 2012 in Mexico City, Mexico’s Deputy Secretary of the Treasury
and Public Credit, José Antonio González Anaya, and Qatar's Director
of Public Revenues and Taxes, Moftah Jassim Al Moftah, signed a double taxation
agreement between their two countries.
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Funds In Line For French Tax Refunds
5/14/2012 France is facing tax refund claims of EUR4bn (USD5bn) from savers and institutional investors after the European Court of Justice ruled in favour of investments funds from Belgium, Germany, Spain and the United States in a tax case - a ruling which could have ramifications for other European Union member states.
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Malaysia, India Sign Revised DTA
5/10/2012 On May 9, 2012, in Kuala Lumpur, Vijay Gokhale, the High Commissioner of India
to Malaysia, and Wan Abdul Aziz Wan Abdullah, Secretary General of Treasury in
the Malaysian Ministry of Finance signed a revised double taxation agreement between their two countries.
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Italy, Switzerland Agree To Tax Talks
5/11/2012 Following the recent positive developments with regard to the tax treaties between
Switzerland and various European Union member states, a meeting held on May 9
between Swiss and Italian officials has agreed to the establishment of a working
group to resolve the outstanding tax problems between their two countries.
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IoM Concludes 30th Tax Sharing Pact, With Qatar
5/10/2012 The Isle of Man government has announced the signing of a comprehensive double
tax agreement with Qatar, only the fifth agreement of its type to be negotiated
by the Isle of Man, but the 30th agreement to include tax information exchange
provisions.
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Liechtenstein Eyes Tax On Swiss Cross-Border Workers
5/7/2012 During a recent sitting, the Liechtenstein government adopted a report pertaining
to a second package of expenditure- and revenue-based measures, designed to consolidate
the state finances in line with the country’s 2012-2015 financial plan.
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Hollande, Sarkozy Go Head-To-Head On Tax
5/7/2012 During a long, bitter televised debate, aimed at attracting wavering voters ahead
of Sarkozy's defeat on May 6, and punctuated by attack and counter attack, outgoing French President
Nicolas Sarkozy and new Socialist President François
Hollande went head-to-head on key election battleground issues including taxation
in France and the crisis in Europe.
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New Zealand, Canada Sign DTA
5/3/2012 On May 3, New Zealand’s Revenue Minister, Peter Dunne, and the Canadian
Minister of International Trade, Ed Fast, signed an updated double tax agreement to replace their countries’ 1980 bilateral treaty.
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Left Demands Improvements To Swiss-German Tax Deal
5/7/2012 Despite cracks appearing in cross-party relations, Germany’s red-green federal
states, governed by both the Social Democrats and by the Green Party, are said to remain united in their firm opposition to the Swiss-German
tax deal, and in their demands for improvements to be made to the text.
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Swiss Left Seeks To Delay Debate On Tax Deals
5/4/2012 Switzerland’s Social Democrats have threatened to block in parliament
the landmark withholding tax agreements concluded recently with Germany, the
UK and Austria, if the treaties are not in accordance with the party line.
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Frieden Backs 'Inspirational' Swiss-German Tax Deal
5/2/2012 Luxembourg’s Finance Minister Luc Frieden has recently underscored that
the Swiss-German bilateral tax treaty will greatly influence and will be ‘inspiring’
for the ongoing debate within the European Union on the taxation of interest.
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Canada, Serbia Sign DTA
5/2/2012 Canada and Serbia have signed a convention for the avoidance of double taxation
with respect to taxes on income and capital, which will restrict the rate at
which withholding tax is applied on income between the two countries.
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HMRC Warned Of RTI Impact On Small Firms
5/1/2012 The Low Incomes Tax Reform Group has said that the UK tax
authority, HM Revenue and Customs, has underestimated the impact of Real Time Information
on small employers.
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Di Pietro Calls For Tax Treaty With Switzerland
5/1/2012 Antonio di Pietro, the former anti-corruption magistrate and present
leader of the Italia dei Valori opposition party, has written in his blog that
the Italian government should now be looking to garner the EUR40bn (USD53bn) in
tax revenue that could be available by concluding a tax treaty with Switzerland.
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Hong Kong Signs DTA With Malaysia
4/27/2012 On April 25, in Kuala Lumpur, Hong Kong’s Financial Secretary, John C Tsang,
and the Malaysian Minister of Finance, Ahmad Husni Hanadzlah, signed a comprehensive
double taxation agreement between Hong Kong and Malaysia.
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German Cabinet Adopts Swiss Tax Deal
4/30/2012 The German cabinet has recently adopted the bill implementing the bilateral
tax agreement with Switzerland.
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France Publishes Revised 2012 'Black List'
4/26/2012 French Finance Minister François Baroin and Budget Minister Valérie
Pécresse have recently updated the country’s ‘black
list’ of countries deemed to be ‘uncooperative’ in tax matters.
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Luxembourg, Germany Sign Revised DTA
4/25/2012 German Finance Minister Wolfgang Schäuble and his Luxembourg counterpart
Luc Frieden have recently signed in Berlin a new agreement on the avoidance
of double taxation in the area of taxes on income.
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Swiss Parliament Adopts Tax Deal With Austria
4/25/2012 Switzerland’s Federal Council has recently adopted the text of the
withholding tax agreement with Austria.
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London Invokes Clause To Improve Swiss Tax Deal
4/24/2012 In a diplomatic note, the UK has called for changes to be made to the bilateral
withholding tax agreement concluded with Switzerland last October, aimed at
resolving the issue of the undeclared wealth of British residents held in Swiss
banks.
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Swiss Lawmakers To Examine German, UK Tax Deals
4/23/2012 The Swiss Federal Council has recently submitted to parliament the bilateral
withholding tax agreements with Germany and the UK, together with the Federal
Act on International Withholding Tax, designed to implement the new agreements.
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Maltese Developers Cry Foul On Property Tax Valuations
4/19/2012 The Malta Developers Association has called on the government to rethink the valuation
of island property for the purposes of levying the 12% withholding tax on property
sales, to take into account the falling price of real estate.
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Liechtenstein, Austria Eye Withholding Tax Deal
4/18/2012 Austria reportedly plans to re-launch talks with Liechtenstein at the end of
April, aimed at negotiating a bilateral tax deal between the two countries to
resolve the issue of untaxed assets held by Austrian residents in the Principality’s
banks.
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Cyprus Committed To Deficit Reduction Targets
4/18/2012 Cyprus's Finance Minister Vassos Shiarly has expressed confidence that the nation will be able to meet the deficit reduction targets agreed with Europe and its Russian creditors.
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Swiss Bankers Welcome Tax Deal With Austria
4/18/2012 The Swiss Bankers Association has recently taken note of the signing
of the bilateral tax agreement between Switzerland and Austria, and has welcomed
the fact that the Confederation’s strategy for tax conformity, defined
over two years ago, has now been substantiated with a third European country
following the agreements signed with the UK and with Germany.
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Hong Kong, Indonesia DTA Comes Into Force
4/17/2012 It has been announced that the agreement for the avoidance of double taxation, signed between Hong Kong and Indonesia on March 23, 2010, came into force
on March 28 this year, after the completion of ratification procedures on both
sides.
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Switzerland Stands Firm On Revised German Tax Deal
4/17/2012 Staunchly defending the importance of the bilateral tax agreement with Germany,
as a means to resolve the longstanding issue of undeclared assets held by German
residents in the Confederation’s banks, Swiss Finance Minister Eveline Widmer-Schlumpf
has ruled out any further compromises.
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Austria, Switzerland Unite 'In Principle' On Tax Deal
4/16/2012 Austria’s Finance Minister Maria Fekter has announced that an agreement
in principle has now been reached on the tax treaty between Austria and Switzerland.
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Full Steam Ahead For Swiss-Austrian Tax Deal
4/13/2012 Austria’s Finance Minister Maria Fekter is due to meet her Swiss counterpart
Eveline Widmer-Schlumpf in Bern on April 13, to sign a bilateral tax agreement
between the two countries aimed at resolving the outstanding issue of undeclared
Austrian money held in the Confederation’s banks, according to the Swiss
Finance Ministry.
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Germany's SPD Rejects Revised Swiss Tax Deal
4/12/2012 Sigmar Gabriel, leader of Germany’s Social Democrats, has once again
reiterated his party’s intention ‘to stop’ the Swiss tax deal
in the Bundesrat, where the coalition lacks the necessary majority, despite the
recent signing of a Supplementary Protocol to the agreement, aimed at appeasing
both the German opposition parties and the federal states, as well as the European
Commission.
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France's Hollande Unveils 'Vast' Tax Reform Plans
4/11/2012 Bernard Cazeneuve, spokesman for the French Socialist presidential candidate
François Hollande, has recently unveiled details of Hollande’s tax
reform plans, designed to simplify and to make more transparent the current tax
system, and to create greater fiscal justice in France, reflecting true Republican
values.
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UK Due To Introduce Tax-Transparent Pooled Fund Structure
4/10/2012 Northern Trust has confirmed that it will offer the incoming UK tax-transparent
pooled funds structure, when regulations permitting the vehicle become effective in the UK in late summer 2012.
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Switzerland, Germany Renegotiate Landmark Tax Arrangement
4/9/2012 The Swiss government has confirmed the signing of a Supplementary Protocol
with Germany that amends the previous agreement of September 21, 2011, which
allocates to Germany the payment of withholding taxes on German deposits held
in Swiss banks.
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Hong Kong-Japan DTA Comes Into Effect
4/6/2012 The governments of Japan and Hong Kong have exchanged notes and agreed that the
double taxation agreement between the two countries entered into force on
April 1, 2012.
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German Lawmakers Adopt Updated DTA With Turkey
4/5/2012 The German Bundestag, or lower house of parliament, has recently adopted the federal
government’s bill pertaining to the bilateral double taxation agreement with Turkey, signed in Berlin by German Finance Minister Wolfgang Schäuble
and his Turkish counterpart Mehmet Simsek on September 19, 2011.
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Schäuble Tries To Quieten Swiss Tax Imbroglio
4/5/2012 German Finance Minister Wolfgang Schäuble has underlined the need
for the bilateral Swiss-German withholding tax agreement to enter into force as
planned from January 1, 2013, despite Switzerland’s inflammatory decision this week to issue arrest warrants for three German tax investigators for industrial espionage.
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Canada's Amended DTAs Enter Into Force
3/30/2012 Canada's updated tax treaties with Italy and Switzerland have entered into force, agreements the Finance Minister said will strengthen the country's tax system.
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Austrian Lower House Backs Savings Package
3/30/2012 The Austrian national council has recently adopted the government’s savings
package, providing for savings between 2012 and 2016 of around EUR17.3bn (USD22.7bn) and for
additional tax revenues of approximately EUR9.2bn, achieved predominantly by closing
existing tax loopholes.
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Sweden Urged To Amend 'Discriminatory' Pensions Taxation
3/26/2012 The European Commission has officially asked Sweden to amend its tax rules
on pension funds because they are said to discriminate against non-resident pension funds compared to domestic
pension funds when it comes to taxing dividends distributed in Sweden.
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Switzerland, UK Supplement Withholding Tax Agreement
3/23/2012 Switzerland and the United Kingdom have
recently signed in Brussels a Protocol of Amendment that supplements the withholding
tax agreement of October 6, 2011.
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Switzerland, EU Discuss Tax
3/22/2012 Swiss President Eveline Widmer-Schlumpf and Federal Councillor Burkhalter have
recently met with top European Union representatives within the scope of a working
visit in Brussels, with the discussions focussing on current developments in
bilateral relations and in particular on strengthening cooperation in the area
of taxation.
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Indian Budget Signals Further Reform Delays
3/20/2012 India’s 2012 Budget has been unveiled, including a raft of tax measures designed to signal progress in the implementation of a direct tax code and a goods and services tax regime.
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Germany 'Modifies' EU-Contested Swiss Tax Deal
3/9/2012 Germany and the European Commission have reportedly resolved their differences
over the bilateral German-Swiss withholding tax deal aimed at preventing tax evasion.
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Cypriot VAT Hike Takes Effect
3/5/2012 An increase to Cyprus's value-added tax rate came into effect
on March 1, 2012, as part of a package adopted in December to speed progress towards European Union fiscal retrenchment targets.
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Belgium Seeks EUR2bn To Limit Budget Deficit
2/28/2012 Belgium’s select ministerial committee has recently confirmed that the additional
fiscal effort needed to limit the country’s deficit to 2.8% of gross domestic
product in 2012 will be in the region of EUR2bn (USD2.67bn).
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Mexico, Lithuania Sign DTA
2/28/2012 On February 23, 2012, in Mexico City, Mexico’s Undersecretary of Finance,
Jose Antonio Gonzalez Anaya, and Lithuania’s Ambassador, Zygimantas Pavilionis,
signed a double taxation agreement designed to promote investment flows
between their two countries.
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Hong Kong, Jersey Sign DTA
2/28/2012 On February 24, Hong Kong’s Secretary for Financial Services and the Treasury,
Professor K C Chan (pictured), and Jersey’s Chief Minister Ian Gorst, signed a double
taxation agreement between Hong Kong and Jersey.
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Switzerland Confirms Financial Centre Strategy
2/27/2012 The Swiss Federal Council has recently held talks on a 'credible' financial centre strategy designed to deflect international criticism over issues such as tax and banking secrecy.
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South African Budget Unveiled
2/24/2012 Despite the concerns previously expressed over prospective South African public
sector debt levels, Minister of Finance Pravin Gordhan’s 2012 Budget confounded expectations by looking for reduced fiscal deficits,
rather than increases, in the next three years, despite tax relief measures and significant increases
in government spending.
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Australia Consults On Maritime Tax Overhaul
2/22/2012 The Australian government has released for consultation an exposure draft on
proposed legislation that would revamp the nation's maritime tax policy to strengthen
the industry's international competitiveness.
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UK, Singapore Ink DTA Protocol
2/22/2012 The UK and Singapore have signed a second protocol to their existing Double Taxation Agreement, amending withholding tax rates.
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Austria Launches Talks On Swiss Tax Deal
2/22/2012 Austria’s Finance Minister Maria Fekter has recently announced that talks
on a planned bilateral tax agreement with Switzerland are due to begin in April.
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Russian Duma Ratifies Cypriot DTA Protocol
2/21/2012 Russia's lower house of parliament, the Duma, has ratified the pending Protocol
to the double tax avoidance agreement with Cyprus, confirming removal of
the nation from Russia's notorious 'blacklist'.
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Jersey Reviewing FATCA Impact
2/17/2012 The Jersey government has published an initial response to the release of further details by the US tax authority and Treasury on the US Foreign Account Tax Compliance Act, which will impact Jersey's financial services industry.
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Malaysian Budgetary Efforts Stunted By Economic Slowdown
2/16/2012 The International Monetary Fund has said Malaysia surpassed fiscal consolidation targets in 2011 as a result of better-than-budgeted revenue performance and efforts to broaden the tax base. The IMF has warned, however, that the government may be required to rein in austerity measures at the cost of consolidation as the economy slows in 2012.
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Spanish Crisis Taxes Praised By OECD
2/16/2012 OECD Secretary-General Angel Gurria has welcomed recent tax measures introduced
by Spain as a crucial first step to bringing the nation's finances onto a sustainable
footing and easing pressure on the European Union.
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Canada, China Agree To Update DTA
2/13/2012 Canada's Prime Minister has welcomed an agreement in principle negotiated with
China that would update the two countries' existing Double Tax Agreement with
the stated aim of reducing tax barriers and encouraging bilateral economic trade
and investment.
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Financial Sector Concerns Persist Despite US FATCA Relaxations
2/13/2012 Despite an attempt to reduce the administrative burden imposed on them within
the newly-announced draft regulations for implementing the United States Foreign
Account Tax Compliance Act, foreign financial institutions remain
concerned at the costs they will still have to bear, and at the uncertainties
that still remain.
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US To Cooperate With EU Countries On FATCA
2/10/2012 The United States Treasury Department and the Internal Revenue Service have
issued proposed regulations for the next major phase of implementing the Foreign
Account Tax Compliance Act, which also includes a joint statement with
France, Germany, Italy, Spain and the United Kingdom on a possible government-to-government
framework for information exchange.
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Switzerland, EU Set For Tax Clash
2/9/2012 Switzerland’s Federal Council has recently announced the next steps for the continuation of bilateral negotiations with the European Union, including in the contentious area of taxation.
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Hong Kong's DTA Network Expands
2/7/2012 Hong Kong’s double taxation agreement with the Czech Republic, signed
on June 6, 2011, came into force on January 24 this year, while that with Spain,
signed on April 1 last year, will come into effect on April 16, now that ratification
procedures have been completed on all sides.
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Russia Considers Eurobond Tax
2/7/2012 The Russian government is considering retroactively applying withholding tax on Eurobonds that are issued through special purpose vehicles in low-tax jurisdictions.
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Ireland, Switzerland Sign DTA Protocol
2/1/2012 Switzerland and Ireland have inked a revised double tax agreement which alters dividend withholding tax rates.
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US Treasury Aims To Lower FATCA Burdens
1/30/2012 During her remarks at the New York State Bar Association Annual Meeting, Acting
Assistant Secretary for Tax Policy, Emily McMahon, indicated that regulations
for the implementation of the provisions of the Foreign Account Tax Compliance Act are in the final stages of clearance at the United States Treasury and
the Internal Revenue Service.
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Mexico, Ukraine Sign DTA
1/26/2012 On January 23, 2012, in Mexico City, Mexico’s Secretary of Finance, Jose
Antonio Meade Kuribreña, and Ukraine’s Foreign Affairs Minister,
Kostyantyn Gryshchenko (pictured), signed a double taxation agreement designed to promote
investment flows between their two countries.
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Bermuda Signs TIEAs With South Korea, Turkey
1/25/2012 Tax information exchange agreements, which incorporate the internationally-agreed
Organization for Economic Cooperation and Development standard for the exchange
of information for tax purposes, have been signed between Bermuda and both South
Korea and Turkey.
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Luxembourg, Belgium Champion Fiscal Discipline
1/25/2012 During a recent working visit to Luxembourg, Belgian Prime Minister Elio Di
Rupo held talks with his Luxembourg counterpart Jean-Claude Juncker, with the
talks focussing on fiscal issues currently under discussion in the European
Union.
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Hong Kong Plugs Its Private Equity Advantages
1/20/2012 In a speech at the Asia Private Equity Forum 2012 in Hong Kong, the Financial
Secretary, John C. Tsang, confirmed that private equity is an important component
of Hong Kong's asset management business, as Asia has become a magnet for venture
capital investment, largely on the back of developments in mainland China.
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Swiss, Uruguay DTA Enters Into Force
1/2/2012 The Swiss Federal Department of Finance has announced that following
the diplomatic exchange of notes on December 28, 2011, the double taxation agreement between Switzerland and Uruguay entered into force.
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Swiss, Greek DTA Amendments In Force
1/2/2012 The Swiss Federal Department of Finance has announced that the Protocol
of Amendment of November 4, 2010, to the double taxation agreement between
Switzerland and Greece has recently entered into force.
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Switzerland, Japan DTA Revisions Soon In Force
12/30/2011 The Swiss Federal Department of Finance has recently announced that the
revised bilateral double taxation agreement between Switzerland and Japan,
signed on May 21, 2010, will enter into force on December 30, 2011.
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French Parliament Waves Through Year End Collective Budget
12/28/2011 The French National Assembly (lower house) has definitively adopted the end
of year 2011 supplementary finance bill, containing a number of targeted tax
rises.
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Swiss, German Revised DTA In Force
12/27/2011 Switzerland’s Federal Department of Finance has announced that
the revised double taxation agreement between Switzerland and Germany
has now entered into force following a recent exchange of the instruments of
ratification.
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Switzerland, Canada DTA Amendments In Force
12/23/2011 Switzerland’s Federal Department of Finance has announced that
the Protocol of Amendment of October 22, 2010, to the double taxation agreement
between Switzerland and Canada has now entered into force.
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Singapore-Panama DTA Enters Into Force
12/22/2011 The double taxation agreement between Singapore and Panama, which was signed on
October 18, 2010, entered into force on December 19 this year.
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Taiwan Adjusts Non-Resident Withholding Tax Threshold
12/22/2011 Following an increase in the minimum wage in Taiwan, the monthly salary threshold
of the 6% withholding tax rate for non-residents in the country will be increased
to TWD28,170 from January 1, 2012.
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German Trade Unions Seek Higher Wealth Taxes
12/20/2011 President of the German Confederation of Trade Unions Michael Sommer has
called for a greater fiscal contribution from the country’s wealthiest to
resolve the ongoing debt crisis and to bring the budget to balance, notably for
the tax burden to be increased on wealth and on inheritances in Germany.
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Australia Proceeds With Fund Manager Tax Reforms
12/21/2011 The Australian government has announced plans to implement the third and final element of an investment management regime, which, according to Minister for Financial Services Bill Shorten, will provide certainty of tax treatment for the funds management sector.
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Swiss Think-Tank Laments Tax Reform Inertia
12/14/2011 In its annual 2011 report on reform efforts in Germany, Austria and Switzerland,
Avenir Suisse highlights its disappointment as regards the drive for fiscal and
financial reform in Switzerland.
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German Socialists Unite On Tax Policy
12/7/2011 Hoping to assume government office in 2013, and following a passionate debate,
Germany’s Social Democrats finally united on tax policy plans during a three-day party conference in Berlin.
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Hong Kong, France DTA Comes Into Effect
12/5/2011 The double taxation agreement between Hong Kong and France, which was originally
signed by Hong Kong’s Financial Secretary, John C Tsang, and the then French
Minister of Economy, Industry and Employment, Christine Lagarde, on October 21,
2010, came into effect on December 1, 2011.
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Belgium Upbraided Over 'Discriminatory' Taxation
12/1/2011 The European Commission has officially asked Belgium to abolish additional
taxation of certain types of income from capital deriving from outside the European
Economic Area and not received or collected by an intermediary established
in Belgium.
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Belgium Unites On 2012 Budget
11/30/2011 At the eleventh hour and following intensive talks, negotiators in Belgium, led by Elio Di Rupo, tasked by the King with forming a viable coalition government, have finally united on plans for the country’s 2012 budget, providing for savings of EUR11.3bn (USD15.1bn) and for a public deficit of 2.8% of gross domestic product.
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Revised Italy-Canada DTA Finally Comes Into Effect
12/1/2011 The revised double taxation agreement between Canada and Italy, originally
signed on June 3, 2002, entered into force on November 25, 2011.
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Switzerland Adopts Four DTAs
11/29/2011 Switzerland’s Federal Council has adopted texts for four further
double taxation agreements, which will now be submitted to parliament
for approval.
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EU Challenges Switzerland's Landmark Tax Deals
11/29/2011 The European Commission plans to challenge landmark bilateral
tax deals concluded between Switzerland and the UK and Switzerland and Germany pertaining to
the taxation of savings held by British and German investors in Swiss bank accounts.
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Swiss Bankers Wary Of Withholding Tax Changes
11/23/2011 While acknowledging the need for changes, the Swiss Private Bankers Association has warned that a hasty reform of withholding tax in the Confederation
could have serious long-term consequences for the Swiss financial centre.
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Germany, Liechtenstein Sign DTA
11/21/2011 The Principality of Liechtenstein and the Federal Republic of Germany have
recently signed in Berlin a bilateral double taxation agreement between
the two countries, intended to secure mutual legal, planning and investment
security.
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France Unveils Year-End Supplementary Finance Bill
11/21/2011 During a recent Council of Ministers meeting, French Budget Minister Valérie
Pécresse and Finance Minister François Baroin (pictured) presented the country’s
end of year 2011 supplementary finance bill, providing for fiscal measures announced
by Prime Minister François Fillon on November 7, amounting to around
EUR5.2bn (USD7bn).
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US Repeals Contractors Tax
11/21/2011 With the passage of the Senate-amended bill through the House of Representatives
on a bipartisan vote, the United States Congress has finally approved legislation
to repeal the 3% withholding tax on payments made to contractors providing services
to government entities.
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Swiss, Netherlands DTA Amendments In Force
11/17/2011 Switzerland’s federal administration has announced recently that the
revised bilateral double taxation agreement with the Netherlands, signed
on February 26, 2010, entered into force on November 9.
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Schäuble Seeks To Renegotiate Swiss Tax Deal
11/18/2011 Determined to gain support from Social Democrat-led states (SPD) in the German
Bundesrat or upper house of parliament, German Finance Minister Wolfgang Schäuble
is reportedly endeavouring to renegotiate the bilateral tax agreement with Switzerland.
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Swiss President Holds EU Tax Talks
11/17/2011 President of the Swiss Confederation, Micheline Calmy-Rey, head of the Federal
Department of Foreign Affairs, recently held talks in Zurich with President
of the European Council, Herman Van Rompuy, with the discussions focussing on
Swiss-EU relations, the debt crisis in the eurozone, co-operation on tax issues,
as well as selected international issues.
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New Zealand, Hong Kong DTA Enters Into Force
11/11/2011 The bilateral comprehensive double taxation agreement between Hong Kong
and New Zealand, which was signed on December 1, 2010, entered into force on November
9, 2011.
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Hong Kong, Malta Sign DTA
11/9/2011 On November 8, Hong Kong’s Secretary for Financial Services and the Treasury,
Professor K C Chan, and Malta’s Ambassador to China, Joseph Cassar, signed
a double taxation agreement between Hong Kong and Malta.
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IRS Needs To Improve Non-Resident Withholding
11/8/2011 An Internal Revenue Service programme designed to foster the withholding
of taxes from non-resident aliens earning income in the United States needs improvement,
according to an audit report released by the Treasury Inspector General for Tax
Administration.
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Singapore-Spain DTA Set For 2012 Entry Into Force
11/1/2011 The double taxation agreement between Singapore and Spain, which was signed
on April 13 this year, will come into force on February 1, 2012.
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Hong Kong's Fund Managers Told Of New Opportunities
11/1/2011 A speech by Hong Kong’s Financial Secretary, John C Tsang, at the Annual Conference of the Hong Kong Investment Funds Association, looked at how Hong Kong's asset management industry can steer a path towards new opportunities during the period of China’s 12th Five-Year Plan.
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US House Passes Contractors Tax Repeal
10/31/2011 The United States House of Representatives has passed, on a bipartisan basis by a 405-16 vote, the bill to repeal the 3% withholding tax on payments made to government contractors, together with another bill, but only on a 262-157 vote, to provide for its funding through changes to health programmes.
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