Sovereign Report – Issue 18

Content Summary

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Download a copy of Issue 18

1. European News
   • EU plans to restrict use of Offshore Financial Centres
   • Jersey announces major tax reform proposals
   • UK Budget cracks down on tax avoidance
2. USA & Caribbean News
   • BVI introduces Virgin Islands Special Trusts Act
   • Turks & Caicos assistance to overseas regulators
   • Bahamas issued guidance on unidentified customers
3. Far East News
   • China rejects direct elections for Hong Kong
   • Indonesia revokes tax treaty with Mauritius
   • Australian Tax Office targets tax haven schemes
4. Legal News
   • UK Court of Appeal gives beneficiaries right to sue
   • Guernsey court orders bank to disclose accounts
   • FATF removes Ukraine and Egypt from non-cooperative list
5. Fiscal News
   • Portuguese property Municipal Tax
   • Tax survey finds global trend of decresased tax rates persists
   • Tax administrations form joint operational unit
6. Special Report
   • OECD issues 2004 Tax Haven Report