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Offshore Trusts Guide News Hong Kong Abolishes Corporate Capital Duty15/5/2012The Registrar of Companies, Ada L L Chung, has announced that the capital duty currently levied on Hong Kong companies will be abolished from June 1, 2012.  Gibraltar Proposes Law Change To Offer UK QROPS15/5/2012The Gibraltar government has published a Bill that would amend the territory's legislation to allow local practitioners to offer Qualifying Recognised Overseas Pension Schemes under a regime compliant with new rules set by the UK tax authority, HM Revenue and Customs.  Guernsey Announces Aircraft Registry Plans15/5/2012The Guernsey government has announced that it has agreed with a private sector partner to launch an aircraft registry from the island.  Financial Crisis Hits Jersey Finance Industry Profits10/5/2012The Jersey government's latest statistical report shows a significant decline in the profitability and size of the nation's financial services industry since the start of the financial crisis, putting pressure on Jersey tax receipts. Recent figures for 2011, however, show modest signs of improvements.  DIFC To Accept Credit Rating Agencies10/5/2012The Dubai Financial Services Authority has launched a consultation on new rules which would allow credit rating agencies to establish operations from the Dubai International Financial Centre tax-free zone.  Australian Budget Scraps Planned Business Tax Cuts10/5/2012A planned cut to business tax rates will not go ahead in Australia, as the government seeks to redirect projected mining tax revenue to help families and small businesses in the face of ongoing disputes with opposition parties.  Offshore Merger And Acquisition Activity Rises9/5/2012A new report from Appleby shows that transaction values for mergers and acquisitions (M&A) in major offshore financial centers rose by 25% in the first quarter of 2012. Nissan Infiniti Locates Global HQ In Hong Kong4/5/2012Invest Hong Kong has used its recent assistance to Infiniti, Nissan Motor’s luxury car brand, while basing its global headquarters in the city, to highlight Hong Kong's favoured position as a preferred location for overseas multinationals.  Insurance Ratings Agency Establishes DIFC Office4/5/2012A.M. Best, a leading provider of credit ratings and financial data for the insurance industry, has received the necessary approvals to begin regional business from the Dubai International Financial Centre.  London Property Investors Shrug Off Tax Fears4/5/2012Prices for prime Central London real estate rose again in April, by 1.1%, with demand particularly strong in the high-end property sector, suggesting that investors were not deterred by the recent increase in stamp duty.  Ireland, US In Talks Over FATCA1/5/2012Ireland and the United States are in talks to establish a common approach to the Foreign Account Tax Compliance Act, drawing on domestic and international tax legislation and treaties.  German Cabinet Adopts Swiss Tax Deal30/4/2012The German cabinet has recently adopted the bill implementing the bilateral tax agreement with Switzerland.  Jersey Advisers Consider UK Budget Impact30/4/2012A recent seminar hosted by Channel Islands law firm Ogier focused on ways to mitigate the tax fallout from the latest UK budget's attack on UK property valued at over GBP2m (USD3.25m) held overseas as tax-efficient investments. Hong Kong Confirms Business Registration Fee Waiver25/4/2012The Revenue (Reduction of Business Registration Fees) Order 2012, which waives Hong Kong’s business registration fees for one year, came into effect on April 1, 2012, the territory's Inland Revenue Department has confirmed.  Bermuda Concludes Marketing Push In China26/4/2012Business Bermuda, the promotional agency for the territory's financial services industry, has concluded a week-long business development and relationship-building trip in Shanghai and Beijing mirroring the decisions of other small, low-tax, financial centres targeting the region as a new source of financial services growth. |
