| Julius Baer confident amid US tax crackdown |
| Swiss bank sees ‘no indication of an indictment’ after the American probe into offshore accounts targeted smaller rival Wegelin last week |
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| Julius Baer inflows fail to offset strong franc |
| Private Swiss bank attracted more than SFr10bn of new money last year in spite of difficult markets and investigation by the US into offshore accounts |
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| D Bank sets up shortlist on asset management sale |
| The sale is the first strategic move from the new co-chief executives in waiting, Anshu Jain and Jürgen Fitschen, as they seek to streamline the bank |
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| BlueCrest vehicle set for London float |
| Company expects to raise more than $230m through the listing to invest in its $13.6bn computer driven offshore hedge fund, BlueTrend |
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| Tax-News.com: WTO To Ease LDC Accession Requirements |
| Tax-News.com: The Sub-Committee on Least Developed Countries, on January 20, agreed to start
work on developing recommendations to ?further strengthen, streamline and operationalize?
current guidelines on the accession process of LDCs, as called for in a decision
by the Eighth WTO Ministerial Conference last month. |
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| British Virgin Islands: Recognising Your Limits: The Treatment Of Segregated Portfolio Companies In Onshore Liquidations - Harneys |
Like most other developed offshore jurisdictions, the British Virgin Islands promotes a type of company which seeks to compartmentalise the assets and liabilities of various "portfolios" away from other portfolios and the company’s general assets.
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| DealBook: A Loophole Poses Risks to Investors in Chinese Companies |
| A vehicle known as a variable interest entity allows Chinese companies like Alibaba to accept money from foreign investors through an offshore entity, even in restricted industries. |
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| United States: IRS Announces Third Special Offshore Voluntary Disclosure Initiative - SNR Denton |
The Internal Revenue Service (IRS) announced on January 9, 2012 that it has reopened its voluntary disclosure initiative "for the third time", in response to the US government’s continuously widening investigation of foreign banks relating to unreported offshore accounts of US persons.
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| Tax-News.com: Joint HK-UK RMB Forum Launched |
| Tax-News.com: The Hong Kong Monetary Authority and the United Kingdom Treasury have announced
the launch of a joint private-sector forum to enhance cooperation between Hong
Kong and London on the development of offshore renminbi business. |
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| London to sign China yuan deal |
George Osborne will sign a deal on Monday with Hong Kong aimed at helping turn the City into an offshore trading centre for the renminbi, in what the chancellor sees as a vote of confidence in London. |
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| United States: IRS Offshore Voluntary Disclosure Program Reopens - Morrison & Foerster LLP |
On January 9, 2012, the Internal Revenue Service (the "IRS") reopened indefinitely its offshore voluntary disclosure program (the "2012 OVDP") to assist taxpayers in reporting undisclosed foreign accounts, assets, and income.
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| United States: Offshore Voluntary Disclosure Program Reopens - Katten Muchin Rosenman LLP |
The Internal Revenue Service recently reopened its Offshore Voluntary Disclosure Program (OVDP) in order to help people who have been hiding offshore accounts, or have become aware of their interests in and obligations with respect to such accounts, become current with their taxes. |
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| China names offshore renminbi bond issuers |
| Beijing grants 10 banks quotas to sell so-called dim sum bonds |
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| Tax-News.com: US Reopens Offshore Disclosure Scheme |
| Tax-News.com: The United States Internal Revenue Service has reopened the offshore voluntary disclosure
program after reporting continued strong interest in the scheme from taxpayers and tax practitioners following the
closure of two previous initiatives. |
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| Kodak, trying to stay afloat, rejiggers itself |
Eastman Kodak, the venerable but struggling photography company, announced Tuesday that it has streamlined its corporate structure as part of the ongoing effort to evolve from film to digital. |
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| Jersey: Why Is Jersey So Good For AIM Listings? - Collas Crill |
Offshore listings on the Alternative Investment Market ("AIM") are very popular and this popularity is continuing to grow, with Jersey becoming an ever-more attractive offshore base from which to incorporate companies which can then be listed on AIM.
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| Cayman Islands: Hedge Fund Directors Are Told To Jump, But How High? - Appleby |
The Financial Services Division of the Cayman Grand Court has recently delivered what is already being hailed as a seminal judgment on the subject of directors’ duties in the context of offshore hedge funds.
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| United Kingdom: Offshore Investment Bonds - Smith & Williamson |
An offshore investment bond can be an attractive wrapper through which to hold your investments due to the tax deferral opportunity provided, particularly in view of the penal tax environment for higher earners.
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| Temasek sets up S$2.5bn China fund |
| Agency hopes to streamline the investment process at a time when there is growing competition for a shrinking number of China deals |
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| Magnitude 7.0 quake hits offshore Japan |
No tsunami warning as strong earthquake strikes off Japan s southern Pacific island |
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| Tax-News.com: IoM Amends AML/CTF Handbook |
| Tax-News.com: The Isle of Man s Financial Supervision Commission has announced amendments to
the territory s Anti-Money Laundering and Countering the Financing of Terrorism handbook. |
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| Tax-News.com: Latest UK Transfer Pricing Statistics Released |
| Tax-News.com: HM Revenue and Customs has made significant progress in settling transfer pricing enquiries, according to new figures which also show an increased revenue yield. |
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| DealBook: Maijoor, Chief Securities Overseer in Europe, Stumps for Streamlined Regulation |
| Steven Maijoor crisscrosses Europe, meeting with politicians and investors to develop one set of securities rules for the European Union. |
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| Sony to Cease Its Flat-Screen Partnership With Samsung |
| In a bid to streamline its money-losing television business, the Japanese technology giant is turning over production capacity to its South Korean partner, Samsung. |
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| Sony Sells Stake in LCD Panel Joint Venture |
| In a bid to streamline its money-losing television business, the Japanese technology giant is turning over production capacity to its South Korean partner, Samsung. |
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| Egypt’s?stifled?SMEs?gear?up?for?listing |
| Delta Financial Services, which helps streamline companies to list on the stock market, says the sector can help drive country’s growth |
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| Looking to Streamline Airport Security Screenings |
| With global air traffic growing about 5 percent a year, industry executives and security experts say a fundamental rethinking of security checkpoints is inevitable. |
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| China opens up to offshore renminbi investors |
| Beijing’s securities regulator announces a long-awaited reform permitting foreign institutions to use the currency to buy equities within the country |
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| China opens door to foreign investors |
| Nation’s securities regulator announces a long-awaited reform that renminbi held offshore can used to buy equities within the country |
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| China opens door wider to foreign investors |
| Nation’s securities regulator announces a long-awaited reform that renminbi held offshore can used to buy equities within the country |
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| Tax: Uruguay’s tax transparency improving, says OECD’s Gurría |
| Uruguay has signed 7 new agreements providing for the exchange of tax information, showing its willingness to implement the global standards. |
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| Boeing unfair labor charge dropped |
The National Labor Relations Board on Friday dropped its politically charged unfair labor practice case against Boeing over the aircraft maker s plan to move 787 Dreamliner production to a new nonunion plant in South Carolina. |
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| Dispute Resolution: OECD Releases 2010 Country Statistics on Mutual Agreement Procedure |
| Country Mutual Agreement Procedure Statistics for 2010 Released |
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| Germany insists on new treaty for Europe |
| Germany insists its European partners must agree on treaty change rather than a streamline changes to solve the eurozone crisis |
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| Liechtenstein: Germany And The Double Tax Treaty With Liechtenstein - Allgemeines Treuunternehmen |
The treaty between the Principality of Liechtenstein and the Federal Republic of Germany for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and fortune (DTT), including the minutes, was signed in Berlin on 17 November 2011.
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| Cayman Islands: "Weavering Macro Fixed Income Fund Limited (In Liquidation) v Peterson And Ekstrom": Hedge Fund Directors Are Told To Jump, But How High? - Appleby |
The Financial Services Division of the Grand Court has just delivered what is already being hailed as a seminal judgment on the subject of directors’ duties in the context of offshore hedge funds.
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| Tax revenues stabilise in OECD countries in 2010 |
| OECD countries acknowledge that taxes must play a role in the process of fiscal consolidation as they battle unprecedented budget deficits. In 2010, the majority of OECD governments have stabilised their ... |
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| OECD highlights eurozone contagion risk |
| European leaders need to provide ‘credible’ firepower to stop the contagion in the eurozone or risk a severe recession, OECD warns |
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| China: New regulations on Foreign Direct Investment with RMB continue the breakdown of Chinese capital barriers - Mallesons |
New Chinese regulations allow foreign investors to use offshore RMB funds to make direct investments into China.
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| Tax-News.com: UK Mulls General Anti-Avoidance Rule |
| Tax-News.com: The introduction of a narrowly focused general anti-abuse rule will lead to a fairer, more principled and simpler tax system in the UK, according to a new report published for the government. |
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