Sovereign Report – Issue 30

Content Summary

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1. European News
   • UK to extend tax avoidance disclosure to residential property
   • Big firms quit UK over tax regime
   • Guernsey publishes new Companies Law
   • France to push for common consolidated corporate tax in EU
   • Germany launches second wave of tax probes
   • Isle of Man disputes “Tax Haven” label
2. USA & Caribbean News
   • Netherlands Antilles to discuss “black lists” with EC
   • Cayman publishes new law changes
   • US to seek client names from Swiss bank
3. Far East News
   • Hong Kong sees views on Companies Ordinance rewrite
   • South African Budget phases out STC
   • Hong Kong announces trust law review
4. Legal News
   • UK Court finds pilot with UK property is not a resident
   • Hollywood actor jailed over tax evasion
   • EU requests Spain to amend CFC regime
5. Fiscal News
   • EU finance ministers agree to expand Savings Tax Directive
   • OECD proposes update to tax haven listings
   • Spain signs tax treaty with the Netherlands Antilles
   • India seeks to close tax treaty loopholes
   • EC requests Portugal to end discrimination
   • Singapore budgets ends estate duty
6. Special Report
   • UK Budget 2008 – changes to UK non-domicile tax regime