News

Austria and Luxemburg block new EU-Swiss savings tax deal

17 May 2012
The European Commission's (Commission) plans to strengthen the EU's savings tax agreement with Switzerland and four other countries have been blocked by Luxemburg and Austria.

PAYE struggles to keep up with changing work patterns

17 May 2012
Some 1.6 million people are receiving letters this week from HMRC, warning them that they have been undercharged tax under the PAYE system and will have to pay extra.

Facebook founder renounced US citizenship to escape tax net

14 May 2012
It has emerged that Eduardo Saverin, one of the founders of Facebook, is one of thousands of wealthy Americans who have recently renounced citizenship in order to avoid the country's international taxation regime.

Costs order aims to discourage ‘no holds barred’ practice in 1975 Act disputes

14 May 2012
The England & Wales High Court (EWHC) has made an unusual costs order in the estate dispute case of Lilleyman v Lilleyman, to discourage litigants in 1975 Act cases from following a ‘no holds barred’ strategy.

STEP Caribbean Conference 2012

14 May 2012
STEP Caribbean Conference delegates were treated to a political tour-de-horizon by former Al Gore Campaign Manager and CNN luminary Donna Brazile.

Treasury did not tell Charities Minister about tax relief cap

10 May 2012
The Government Minister for civil society, Nick Hurd, says he was never consulted about the cap on charitable tax relief announced in the March Budget.

Banks will not meet FATCA deadline

10 May 2012
Many banks will not be ready to meet the requirements of the USA's Foreign Account Tax Compliance Act (FATCA) by the 1 January 2013 deadline, according to a survey by tax advisors KPMG.

Law firms can suspend work for non-paying clients

08 May 2012
The England & Wales Court of Appeal (EWCA) has ruled that a law firm can suspend work for a client who does not pay its interim charges, even if he was not forewarned that the bill would exceed the firm's original estimate.

India postpones GAAR after investor outcry

08 May 2012
The General Anti-Avoidance Rule (GAAR) introduced in India's 2012 federal budget is being deferred by a year.

Warren Luyt TEP, Managing Director of Trident Trust in Dubai is voted in as Chairman of STEP Arabia

08 May 2012
Warren Luyt is the Managing Director of Trident Trust’s Dubai operations.

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