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Germany's Rüttgers Rebels Against Govt Tax Cut Plans

Tuesday, February 9, 2010

North Rhine-Westphalia’s Prime Minister, Jürgen Rüttgers, has expressed his fierce opposition to the tax cut plans of the German coalition government, three months ahead of the state elections.

Eager to raise his profile and to win all-important votes, Christian Democratic Union (CDU) party member Rüttgers has distanced himself from the finance policy of coalition partner, the Free Democratic Party (FDP), and threatened to veto the government’s proposed 2011 tax reform, if this is to result in an increased burden on municipalities.

Rüttgers defiantly announced that North Rhine-Westphalia will not agree to any measures that will lead to the closure of theatres and swimming pools in towns and communities, nor will he approve any initiatives that will serve to delay the expansion of nursery schools.

Emphasizing the fact that the welfare of the community is of greater importance than tax reductions, Rüttgers argued that in truth there is no scope to implement tax cuts, which are not guaranteed to create jobs anyway.

Rüttgers repeated his calls for the introduction of a stock market sales tax in Germany, stating that, if necessary, a levy must be implemented at national level. He also rejected the FDP’s plans to introduce a health premium, highlighting the fact that, given the lack of social balance, such a levy is unjust and would place too great a burden on many individuals.

Responding to the Rüttger’s criticisms, Deputy Prime Minister of North Rhine-Westphalia, Andreas Pinkwart (FDP), underlined the fact that a simpler, lower, fairer tax system is a key component of the coalition agreement, and that efforts should be made to create scope to implement fair taxes.

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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