Sovereign Report – Issue 21

Content Summary

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Download a copy of Issue 21

1. European News
   • EU Savings Tax Directive comes into force – except in Gibraltar
   • UK targets chargeable gains
   • The Netherlands proposes corporate tax reform
2. USA & Caribbean News
   • Wealth Report anticipates slower growth in 2005
   • Uruguay commits to major tax reform
   • US bill targets “tax haven” CFCs
3. Far East News
   • China to restrict offshore investment by PRC individuals
   • Singapore Advance Ruling System
   • New Zealand to introduce reporting for foreign trusts
4. Legal News
   • Hong Kong Court rejects Ramsay in estate duty case
   • Taxpayer wins central control and management case on appeal
   • ECJ opinion clears way for cross-border loss relief
5. Fiscal News
   • China to unify corporate rates for foreign and domestic firms
   • Switzerland revokes “50/50” and “80/20” tax practices
   • South Africa withholds on non-resident sale of fixed property
6. Special Report
   • Q&A on EU Savings Tax Directive