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Welcome to Offshore Trusts Guide [OTG]
OTG publishes news, features and newsletters on the use of offshore trust structures. The full guide analyses key global issues relating to the offshore trust, and examines in detail the trust regimes in key jurisdictions. Please make use of our free trial access to explore the guide.
Latest OTG Features |
Latest OTG News |
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Latest Network News
Luxembourg Defends Savings Tax Opposition
18/5/2012
During the recent European Union Economic and Financial Affairs Council meeting in Brussels, Luxembourg’s Finance Minister Luc Frieden defended his decision to block the European Commission’s plans to negotiate new and stronger savings tax agreements with third countries, insisting that given recent developments, the automatic exchange of tax information is not necessarily the only solution to combating tax evasion.
Swiss Tax Deals Pass First Parliamentary Hurdle
18/5/2012
Passing the first important hurdle, the Swiss Committee for Economic Affairs and Taxation in the Council of States, or upper house of parliament, recently voted in favour of the withholding tax agreements with Germany, the UK, and Austria.
Belgium Warned Of Further Austerity Ahead
18/5/2012
Belgium’s Federal Planning Bureau, providing economic analyses and forecasts for the government, has recently announced that if Belgium is to limit its public deficit to 2.15% of gross domestic product in 2013 and to re-establish a balanced budget in 2015, in line with its targets, new measures totalling around EUR11bn (USD14bn) will be necessary, of which EUR3bn from next year.
Congress Studies IRS's Treatment Of Charities
18/5/2012
The Oversight Subcommittee of the House of Representatives Ways and Means Committee has held a hearing on current issues related to United States tax-exempt organizations, including the compliance initiatives of the Internal Revenue Service related, in particular, to recent efforts for tax-exempt organizations to design and implement good governance standards.
IRS Told To Improve FATCA Plans
18/5/2012
The United States Government Accountability Office has disclosed that, as the implementation of the Foreign Account Tax Compliance Act should provide the Internal Revenue Service with a substantial amount of new information, Congress has asked for a review of how it plans to manage that information.
Monti Defends Italian Tax Collectors
18/5/2012
In his remarks during a meeting with the management of the Italian Revenue Agency and Equitalia (which collects the country’s taxes), the Italian Prime Minister Mario Monti emphasized that it had to be recognized that the payment of their taxes was everybody’s duty, before it could be possible to reduce the overall tax burden.
Greggs Chief Slams UK 'Pasty Tax'
17/5/2012
The UK government’s ‘pasty tax’ will result in higher unemployment, store closures and reduced investment, the head of bakery retailer Greggs has said.
EU Hails ETS Aviation Compliance Rate
18/5/2012
The European Commission has claimed early success with the extension of the European Union's Emissions Trading Scheme to flights in and out of Europe, reporting compliance with currently non-mandatory emissions-reporting requirements by more than 99% of operational airlines.
House Passes State Tax Simplification Bill
18/5/2012
The United States House of Representatives has passed, on a bipartisan basis with a voice vote, a bill which would simplify tax reporting requirements for those workers who are employed in multiple state jurisdictions.
Peru, Korea Cement Economic Ties
17/5/2012
Peru's President Ollanta Humala recently met with his Korean counterpart, Lee Myung-bak, in the South Korean capital, Seoul, to sign a double tax agreement, and agree further areas for cooperation following the conclusion of a free trade agreement in 2011.
Austria, Luxembourg Block EU Savings Tax Proposals
18/5/2012
Much to the deep annoyance and extreme frustration of European Union Tax Commissioner Algirdas Semeta, Austria and Luxembourg have blocked the European Commission’s plans to negotiate new and stronger savings tax agreements with Switzerland, Monaco, Liechtenstein, Andorra and San Marino, aimed at strengthening cooperation in tax matters.
US Senate Mulls Tax Reform For Tribes And Territories
18/5/2012
At a recent Senate hearing on the effect of possible tax reforms on Native Americans and the United States territories - Puerto Rico, the US Virgin Islands, Guam, American Samoa and the Northern Mariana Islands - Finance Committee Chairman Max Baucus pointed to the anomalies and complexities existing in their current tax treatment.
Boehner Warns Of Looming 'Fiscal Cliff'
18/5/2012
With the prospect of a further stand-off between the Democrat and Republican parties later this year over the United States government statutory debt limit, House of Representatives Speaker John Boehner has returned to his mantra of spending cuts with no tax increases.
ASEAN, World Bank Monitor Progress To AEC
17/5/2012
The Secretariat of the Association of Southeast Asian Nations and the East Asia and Pacific Region of the World Bank have signed an agreement for the World Bank to provide advisory services to ASEAN to strengthen its capacity to monitor progress towards achieving the ASEAN Economic Community.
Taiwan Accused Of Dragging Feet In Trade Talks
17/5/2012
Following the announcement that China, Japan and South Korea are to begin talks on a trilateral free trade agreement by the end of this year, the Taiwanese government has been asked to explain why it has not already progressed further trade liberalization with China within their Economic Cooperation Framework Agreement.
