Switzerland To Reform Lump Sum Taxation

July 11, 2011, 14:42 / Advisory / Jurisdictions: Switzerland

Switzerland’s Federal Council has announced plans to reform the lump sum taxation of wealthy foreigners in the Confederation, in a bid to strengthen fiscal equity as well as to improve acceptance of the system, while at the same time endeavouring to preserve the attractiveness of Switzerland as a location.

Lower-Tax Shores Draw U.S. Firms

July 11, 2011, 14:42 / Advisory / Jurisdictions: USA

When Austin, Texas-based Freescale Semiconductor Holdings I Ltd. went public last month in the U.S., the company followed the footsteps of generations of American high-tech companies, including its former parent, Motorola Inc.

City of London Mayor will advise Moscow

July 8, 2011, 17:28 / Advisory / Jurisdictions: Russia, Great Britain

The Lord Mayor of London, Alderman Michael Bear, is in Russia with a delegation of city businessmen. He has a packed schedule in Moscow and St Petersburg but the pivotal day will be spent as co-chairman with Alexander Voloshin of the the first meeting of the UK – Russia Liaison Group on the development of Moscow as an international financial centre.

Brussels eyes Tobin tax to aid EU coffers

July 7, 2011, 15:54 / Advisory / Jurisdictions: European Union

The European Union’s executive body is set to propose expanding its revenue-raising powers – including the introduction of EU-wide taxes – in its budget to be unveiled this week.

France Votes 'Yes' To EU Tobin Tax

July 6, 2011, 00:50 / Advisory / Jurisdictions: European Union

Marking a significant step forward, albeit largely symbolic, the French National Assembly voted almost unanimously in favour of a European resolution seeking to introduce at European level a tax imposed on all financial transactions.

Bilateral DTA between Luxembourg and Tajikistan

July 1, 2011, 15:46 / Advisory / Jurisdictions: Luxembourg, Tajikistan

During an official visit to Luxembourg by Tajikistan’s President Emomali Rahmon and accompanying delegation, the talks centred on strengthening bilateral relations, on human rights, as well as on economic and financial issues, culminating in the signing of a bilateral double taxation agreement (DTA) between the two countries.

Review of Innovation Policy in the Russian Federation 2011

June 30, 2011, 15:06 / Advisory / Jurisdiction: Russia

Review of Innovation Policy in the Russian Federation 2011, prepared in partnership with the Russian Ministry of Education and Science, points out a high level of education in Russia and good development in several fields of science and technology, but also mentions low level of innovation activities in companies, weak competition, and inefficient infrastructure.

Uzbekistan, Germany Negotiating On Closer Cooperation

June 29, 2011, 12:21 / Advisory / Jurisdictions: Uzbekistan, Germany

Uzbekistan and Germany have held negotiations on financial and technical cooperation, where government reforms, new projects and investment were also discussed.

Third bilateral APA concluded between Denmark and China

June 28, 2011, 17:35 / Advisory / Jurisdictions: Denmark, China, European Union

Two years after the completion of a pair of bilateral advance pricing agreements (“BAPAs”) for a leading Danish technology company, Danish and Chinese tax authorities have concluded a third BAPA, according to the website of the Danish Tax Authorities (“DTA”).

ECJ Confirms Illegality Of Spanish Tax Exemptions

June 22, 2011, 16:30 / Advisory / Jurisdiction: Spain, European Union

The European Court of Justice has upheld the European Commission’s finding that tax exemptions granted to newly-established companies in the Basque region of Spain are state aid and incompatible with the common market, and must therefore be recovered by the Spanish government.