News and Reviews

EU-Singapore Trade Pact In The Offing

September 26, 2011, 14:30 / Advisory / Jurisdiction: European Union, Singapore

Following his meeting with Singapore's Prime Minister Lee Hsien Long, the President of the European Commission, Jose Manuel Barroso said that a comprehensive Free Trade Agreement between the EU and Singapore will likely be finalized "very soon".

Austria Divided on Wealth Tax

September 22, 2011, 11:00 / Advisory / Jurisdiction: Austria

Hot on the heels of recent remarks made by Austria’s Chancellor Werner Faymann pertaining to the taxation of the country’s wealthiest, Finance Minister Maria Fekter issued a categorical ‘no’ to the idea of introducing a wealth tax in Austria.

Cyprus MPs approve balanced austerity measures

September 16, 2011, 14:30 / Advisory / Jurisdiction: Cyprus

Parliament approved the Cyprus government’s first package of austerity measures aimed wrestle down its high deficit, which politicians said had been watered down in order to calm union leaders, particularly those representing civil servants and employees in the semi-government sector.

US Companies Redomicile To The Cayman Islands

September 15, 2011, 12:00 / Advisory / Jurisdiction: United States

An article on American medium and large companies tending to move their headquarters to tax-free areas has been published on Forbes homepage.

New role for Hong Kong

September 14, 2011, 15:00 / Advisory / Jurisdiction: HongKong

Li Keqiang, the man almost certain to succeed Wen Jiabao as China’s premier, came to Hong Kong last week bearing gifts.

Financial transactions tax proposal not welcomed

August 31, 2011, 11:40 / Advisory / Jurisdiction: European Union

Berlin made clear on Wednesday that a proposed tax on financial transactions would have to apply to the entire European Union, but renewed Franco-German backing for the levy still unnerved investors and depressed shares in European stock exchanges.

Switzerland, Germany Conclude Landmark Tax Deal

August 30, 2011, 08:30 / Advisory / Jurisdictions: Switzerland, Germany

In a move to quash longstanding tax disputes between the German government and Swiss financial institutions, the governments of Germany and Switzerland on August 10 concluded negotiations on tax issues and initialled a framework for the future taxation of funds deposited in Switzerland by German residents.

Germany, France Back EU Economic Government

August 29, 2011, 15:50 / Advisory / Jurisdictions: Germany, France

Determined to regain market confidence and to rescue a failing eurozone from the brink, Germany and France have called for a common European 'economic government' to be established, spearheaded by an appointed leader, and for the fiscal and economic policies of eurozone member states to be dovetailed in order to strengthen the euro as a common currency.

Profit of ABLV Group in H1 2011 amounted to LVL 9.8 million

August 23, 2011, 16:00 / Banking

In H1 2011, ABLV Group successfully reached its financial goals. Gradual economic recovery and increasing financial market activity facilitated achievement of great results, but most important was the effective business strategy chosen by the bank and thorough implementation of it. In terms of certain key indicators, progress of ABLV Bank was better than that of the market in general, allowing the bank to take leading positions in the Latvian banking sector.

Bank of Cyprus Urges Action to Prevent Bailout

August 11, 2011, 15:17 / Advisory / Jurisdictions: Cyprus

Cyprus's largest commercial bank, the Bank of Cyprus, has called on the Cypriot government to make radical decisions to reduce the budget deficit and quash speculation that Cyprus will require an EU-funded bailout.