Sovereign Report – Issue 36

Content Summary

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Download a copy of Issue 36

1. European News
   • UK MP defends role of offshore finance centres
   • Spain to probe Swiss accounts
   • UK announces Capital Gains Tax hike
   • Guernsey and Isle of Man announce switch to automatic EU information exchange
   • Swiss government completes processing of UBS accounts
   • Liechtenstein passes LDF law and cuts corporate tax rate
2. USA & Caribbean News
   • Panama aims for OECD “White List” by early 2011
   • Uruguay to lift bank secrecy to facilitate OECD standards
   • Brazil expands tax haven list
3. Far East News
   • SA to introduce new regional holding company regime
   • Grounded actor Paul Hogan strikes tax deal in Australia
   • Singapore launches “Angel” investor scheme
4. Legal News
   • Court rejects use of reserved powers against will of settlor
   • Gaines-Cooper gains appeal
   • HMRC wins Smallwood trust case in Court of Appeal
   • Untaxed UAE company eligible for Indian treaty benefits
   • ECJ finds Spain violates EU Law
   • HMRC wins CGT avoidance case
5. Fiscal News
   • Gibraltar government sets out tax regime overhaul
   • Italy seizes motor boss yacht
   • EU tax commissioner visits Hong Kong and Macau
6. Special Report
   • Pensions – why the present economic crisis means you might need to consider your options