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17 May 2012 -
Eurogroup Committed To Fiscal Consolidation
Following the latest Eurogroup meeting in Brussels, Luxembourg's Prime Minister and Eurogroup President Jean-Claude Juncker confirmed that the Eurogroup's consolidation strategy, in accordance with provisions contained in the Stability and Growth Pact, 'remains appropriate' and will therefore continue to form the cornerstone of its strategy to correct fiscal and economic imbalances to overcome the crisis and to return to sustainable growth.
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17 May 2012 -
Hollande Eyes ‘Growth Dimension’ In Fiscal Compact
During their first meeting in Berlin, German Chancellor Angela Merkel and French Socialist President-elect François Hollande underscored the importance of Germany and France continuing to work closely together in the interests of Europe, and their responsibility and commitment to collaborating on ideas aimed at stimulating growth in Europe ahead of the European Council meeting in June.
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16 May 2012 -
Cayman Islands Target Brazilian Investors
The Cayman Islands government has sought to bolster business relations with Brazilian investors by taking part in the recent Brazil Investment Summit.
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16 May 2012 -
Hong Kong Abolishes Corporate Capital Duty
The 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.
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16 May 2012 -
Bundesrat Blocks German Tax Cut Plans
Germany's coalition government has failed to secure a majority for its EUR6bn (USD7.7bn) tax cut plans in the German Bundesrat, or upper house of parliament, despite predicted additional tax revenues of around EUR30bn by 2016, compared to the November 2011 tax estimate.
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15 May 2012 -
SA Will Not Impose Australian-Style Mining Tax
At a press briefing, Mineral Resources Minister Susan Shabangu has confirmed that South Africa will not follow Australia in implementing a 'mining super tax'.
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15 May 2012 -
De Gucht Sees EU-US Trade Treaty In 2014
In a speech on the future of transatlantic trade, to the recent AmCham Germany Annual Membership Meeting in Hamburg, the European Commissioner for Trade Karel De Gucht foresaw the possibility of a comprehensive free trade agreement between the United States and the European Union in 2014.
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15 May 2012 -
Gibraltar Proposes Law Change To Offer UK QROPS
The 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.
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15 May 2012 -
Democrats Introduce In-Sourcing Bill Into US Congress
Democrats in the Senate and House of Representatives have introduced into the United States Congress the main tax measure out of President Barack Obama's recently-announced "To Do List", to provide a tax credit for companies over the cost of moving operations back to the country.
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15 May 2012 -
UK Government Blasted Over IR35 Proposals
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.