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Daily Tax Quote

New On The Network Today

This feed is published daily with selected new or updated content from across our network. For a list of network sites, many of which feature daily news, see below.

 
29/07 New Lowtax Editor Column, by Kitty Miv
28/07 New PBTG Editor Column, Caroline, PBTG editor
27/07 UK Launches Raft Of Tax Consultations, Tax-News.com
26/07 Fat Tax On The Menu , Jeremy Hetherington-Gore blog entry
23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com
20/07 Singapore Base For Tuvalu OIFC, Tax-News.com
19/07 Expats Turn Backs On US Taxes, Tax-News.com
16/07 Congress Approves US Financial Reform Bill, Tax-News.com
15/07 New Lowtax Editor Column, by Kitty Miv
15/07 St Vincent & The Grenadines, Investors Offshore special feature
13/07 Tax-News.com Jersey Review 2010-2011
12/07 Goodbye To All That, Jeremy Hetherington-Gore blog entry
09/07 Antigua Pursuing Trade Sanctions Against US, Tax-News.com
08/07 New Lowtax Editor Column, by Kitty Miv
06/07 Hong Kong Full PBTG Guide, added to Personal Business Tax Guide
05/07 Australian Mining Tax Agreement Reached, Tax-News.com
02/07 Online Trading For Expats, Investors Offshore special feature
29/06 EC To Extend Common System Of VAT, Tax-News.com
28/06 Lowtax Dubai, annual update
25/06 Jersey Considers Tax Future, Tax-News.com
22/06 VAT Hiked In UK Emergency Budget, Tax-News.com
21/06 Steady Progress In TPP Negotiations, Tax-News.com
18/06 Singapore - Another Hong Kong?, Investors Offshore special feature
15/06 Swiss Parliament Approves UBS Agreement, Tax-News.com
14/06 Ethical Moonshine, Penelope Wise blog entry
11/06 Germany Purchases Stolen Tax Data Disc, Tax-News.com
08/06 Dubai Full PBTG Guide, added to Personal Business Tax Guide
07/06 G-20 Shelves Global Bank Tax, Tax-News.com
04/06 Lowtax Panama, annual update
01/06 Lowtax Luxembourg, annual update
31/05 OECD And EU Strengthen Tax Cooperation, Tax-News.com
28/05 Lowtax Guernsey, annual update
25/05 Lowtax Jersey, annual update
24/05 Lithuania Summary PBTG Guide, added to Personal Business Tax Guide
21/05 Lowtax Liechtenstein, annual update
18/05 Latvia Summary PBTG Guide, added to Personal Business Tax Guide
17/05 Offshore And The Euro, Jeremy Hetherington-Gore blog entry
14/05 IO Focus: Barbados, Investors Offshore special feature
03/03 Personal Business Tax Guide, PBTG, has launched!
Providing essential tax news and information for globally mobile artists, contractors, entrepreneurs, professionals, small businesses, sportspersons and entertainers.
 

 
Lowtax Network Sites
Lowtax Network Portal: 'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail.
Tax News: Global tax news, continuously updated through the day.
Investors Offshore: The independent offshore and alternative investment guide for expatriates and the globally aware investor. Sponsored by HSBC Bank International.
Law & Tax News: Daily news and background data on tax and legal developments for international business.
Offshore-e-com: A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library: One of the web's largest and most authoritative business and investment information sources.
US Tax Network: The resource for free online US taxation information, covering: corporate tax, individual tax, international tax, expatriates, sales and e-commerce tax, investment tax.
NEW! Personal Business Tax Guide: Providing essential tax news and information on business for contractors, entrepreneurs, professionals, small businesses, artists, sportspersons and entertainers.
 
Bermuda Signs Tax Info Exchange Agreement With Japan

by Amanda Banks, Tax-News.com, London Thursday, February 04, 2010

Bermuda’s Minister of Finance, Paula Cox has announced the signing of a bilateral agreement with Japan for the full exchange of information in criminal and civil tax matters, under an Organization for Economic Cooperation and Development (OECD) model Tax Information Exchange Agreement (TIEA) on February 1, and further announced that a text has been agreed on a another agreement with South Korea.

The signing of the agreement with Japan took place at a ceremony at the Japanese Embassy in London on February 1. Amongst those benefits accrued for Bermuda within the TIEA is a clause for Prohibition of Prejudicial or Restrictive Measures and a mini Double Taxation Agreement that will provide benefits for students and pensioners.

Cox noted that the signing of the agreement would further enhance Bermuda's position as a territory that draws in considerable international business: "Already approximately 20-25% of Japanese Property Cat business is placed in Bermuda, as well as 5% of Property Pro-Rata business," she explained. "With over 100 companies in Bermuda with Japanese interests, we see this agreement as enhancing opportunities for further foreign direct investment between our two countries and a great step forward in cementing the relationship between Bermuda and Japan. Moreover, this TIEA marks Bermuda's nineteenth signed tax information exchange agreement, further demonstrating that Bermuda is far from complacent about our elevated position on the OECD white list and that we are resolved, as always, to implement the internationally agreed tax standard."

David Ezekiel, Chairman of the Association of Bermuda International Companies, added: "The signing of this TIEA with Japan after months of work and negotiation, coming on the heels of Bermuda being selected to host the 2011 OECD Global Forum, is another major step forward for Bermuda. Japan has a major involvement in the Bermuda market by way of ownership in the International Business sector and in trading with Bermuda-based companies. The treaty contains many useful benefits not only for the business sector but for individuals, including students who might be traveling to Japan for studies."

Bradley Kading, President and Executive Director of the Association of Bermuda Insurers and Reinsurers, echoed Ezekiel's sentiments: "This TIEA is particularly noteworthy as Japan is the world's second largest economy and Japanese insurers have been active participants in the Bermuda market for years. Japan has a natural interest in the hurricane and earthquake reinsurance provided by many Bermuda companies."

Bermuda now has TIEAs with the following members of the G7: Japan, France, Germany, the UK and the US. In addition, Bermuda has TIEAs with Australia, Ireland, New Zealand, the Netherlands, the Nordic Group (including Denmark, Finland, Iceland, Norway and Sweden and their associated territories the Faroe Islands and Greenland), Netherlands Antilles and Aruba, and Mexico.

According to the Bermudian government, the TIEA and Protocol with Japan includes all standard means to ensure due process is followed in tax information requests to Bermuda. These include provisions to protect the confidentiality of information provided, as well as adhering to public policy, provisions related to protecting legal privilege, and anti-fishing provisions to ensure that requests for information from Japan are relevant to ongoing tax investigations being conducted by Japanese authorities.

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