Hong Kong To Reduce Salaries Tax To 15%
Hong Kong Special Administrative Region (HKSAR) Chief Executive, Donald Tsang, has announced cuts in both salaries and profits taxes in 2008-09, much to the relief of taxpayers in the jurisdiction.
EU Probes Spanish Tax Loophole For Foreign Takeovers
The European Commission has opened a formal investigation under state aid rules into a provision of Spanish corporate tax law that allows Spanish companies tax deductions deriving from acquiring a stake in non-Spanish companies.
Barclays launches new mortgage service in Dubai
Barclays Buying Abroad has launched a new property purchase service for people buying homes or buy to let investments in Dubai.
RBS launches new instant access savings account
The Royal Bank of Scotland has launched a new telephone saver account that will offer 1% bonus for six months.
Tax System Improvements Needed To Encourage Enterprise
According to new research published on Tuesday by PricewaterhouseCoopers LLP, perceptions about the UK tax system and its role in supporting and encouraging enterprise are improving, and awareness levels of tax incentives and reliefs available to private companies have increased.
Swiss US Rental Taxes Highest In OECD
Switzerland imposes the highest taxes on rental income of non-resident landlords, according to a study on the tax situation in more than 90 countries around the world. A study conducted by Global Property Guide, with contributions from leading accounting firms in each country, states that the effective income tax rate in Geneva, Switzerland can be as high as 48.6% on a rental income of EUR1,500/month and 54.5% on income of EUR12,000/month.
Hedge Funds Kept Head Above Water In September
Despite sub-prime woes, hedge funds seem to have had a reasonable September, and continued to take in money during August, although at a slower rate than earlier in the year.
Merger To Create Caribbean Banking Giant
Royal Bank of Canada and the RBTT Financial Group on Tuesday jointly announced an agreement to combine RBC’s Caribbean retail banking operations with RBTT’s, to create one of the largest banking groups in the Caribbean. RBC will acquire RBTT for a total purchase price of US$2.2 billion.
