Archive for the ‘Final Beneficiary’ Category

UK non dom update

Friday, June 17th, 2011

The consultation issued by the Government outlining proposed changes to the taxation of non-UK domiciled individuals, increases the remittance basis charge but encourage foreign investments in the UK. The remittance basis charge goes from the current £30k to £50k, only applied to those resident in the UK for 12 years or more.

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Gibraltar & Spain, what’s going on?

Saturday, April 17th, 2010

We are surprised, happily surprised, to see Spain signing another TIEA. This one with Bahamas signed on March 11, 2010, follows the Netherlands Antilles, Aruba, Trinidad y Tobago agreements. Please see our Taxprecision post for more information.

When coming to Gibraltar, the question brings some political issues to the table which must be put aside as a matter of urgency.

The Spanish Tax legislation clearly discriminate Gibraltar by discouraging the furtherance of trade, commerce and business with this territory of the UK and part of the EU.

There are powerful economic reasons to end this situation. Gibraltar accounts for 3% of the exports in Andalucia, compared with a 4% with Morocco, or another 4% with Mexico or US. Gibraltar is, therefore, a strategic partner of Andalucia.

I can understand that a generation of Spaniards may still have some issues coming to terms with reality. I would like to invite my fellow Spaniards to rethink their position by reviewing our 2008 posting to get to know Gibraltar and more about its OECD compliance.

There are compelling reasons for the Spanish government to speed up the signature of this TIEA and remove Gibraltar from the list of Tax Havens as per Spanish RD1080/91.

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Gibraltar and Spain.- First serious dialogue 300 years later!

Wednesday, July 22nd, 2009

Yesterday we attended the first official visit of a Spanish Government representative to the Rock in the last 300 years. We welcome the common position reached, which will improve the exchange of information protocols and a possible treaty on taxation.

Leaving aside the issue of Sovereignty, the agreements reflect the XXI Century Diplomacy efforts based on dialogue. The meeting is in accordance with International Law protocols, the EU position and the OECD directives. Please find attached the communique following the meeting here.

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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.

Tax Precision is the trading name of León Fernando del Canto Gonzalez, a Barrister regulated by the General Council of the Bar in England and the Colegio de Abogados de Jerez de la Frontera.