A Senate Bill, co sponsored last year by Senator Levin and the then Senator Barack Obama is finding its way into the Congress of the USA. The Bill has not yet passed but it is already influencing heavily public opinion worldwide.
Are these initiatives a genuine effort to improve tax collection or just a scapegoat strategy to divert public attention from high public spending, higher indirect tax rates and the inability to deal effectively with the current economy? Read the rest of this entry »
Taxprecision.com celebrates 18 months on the air. A great community of tax readers, with 3,000 + visits a month and great comments, has inspired the first Taxprecision.com Blog revamp. Some of you suggested a better notification system for new postings and here we are!. Please let us know if you do not want to be subscribed and we should remove your name from the list.
New legislation to prevent money laundering activities and the financial support of terrorism is in its way to the Spanish Parliament. The draft published by the Dirección General del Tesoro y Política Financiera in April involves an expanded definition of Tax evasion, which may affect accepted international standards.
The Universidad de Cadiz is launching a great LLM this year with a focus on International Tax and the Spanish Tax system. The LLM is sponsored by Deloitte, KPMG, Garrigues, Montero Aramburu and Konsilia.
The tax-exempt ‘non-resident’ status will be closely monitored by the Revenue as reported by The Times. Many affluent Brits living in Spain are enjoying a Non-resident status, and they ensure to spend no more than 90 days a year in the UK after moving abroad.
Last week I heard that the Spanish Tax authorities are not accepting life insurance wrappers registered in Luxembourg until there is an adequate exchange of bank information protocol for tax purposes between the two countries.
The OECD has finalised the fifth meeting of the Forum on Tax Administration, held in Paris 28-29 May 2009 .
The chair of the OECD Forum, Mr Pravin Gordhan, Finance Minister of South Africa noted that “The world faces an unprecedented global financial and economic crisis. The challenges posed are both economic and social. Governments need to find sustainable ways to finance the cost of exiting the crisis. To achieve this will require the engagement of all stakeholders: Governments, business and civil society. Revenue bodies have a key role to play in helping governments to achieve sustainable revenues.” Read the rest of this entry »
When we published our first article on the Beckham Law in the Tax Journal, back in 2004, our English colleagues were amazed. Spain was developing legislation to attract international footballers, taxing them effectively at 24% and giving them a worldwide tax exemption on international income. Being the international exemption similar to the non domicile regimen in England in the good old days. Read the rest of this entry »
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International Tax Law Barrister, Lawyer, Abrogado & Attorney, Leon Fernando del Canto of Konsilia, offering services relating to international tax planning, tax advice, private clients, international law, serving Spain, United Kingdom, Europe.