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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. |
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| 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 |
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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 |
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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! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| 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. |
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| Malaysia Committed To Global Tax Standards |
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, April 07, 2009
Malaysia is committed to internationally-agreed tax
standards and should not be categorized with jurisdictions that have not, Prime Minister Datuk Seri Najib Tun Razak announced on April 2.
The Prime Minister explained that Malaysia has sent a statement to the
Organization for Economic Cooperation and Development (OECD) leaders to reaffirm
its commitment to subscribe to the OECD standard for the effective exchange
of information (EOI).
Najib, who is also Finance Minister, was responding to reports that Malaysia
and its offshore jurisdiction, Labuan International Business and Financial Centre
(IBFC), has been categorized as “jurisdictions which have not committed
to the internationally-agreed tax standards.”
“We should not be in that category as – in practice – we
have been committed to OECD requirements. Our statement to OECD leaders earlier
this week was to re-affirm this," he remarked, adding:
“I understand that the list is a progress report or status report of
jurisdictions which have not committed to the internationally-agreed tax standards.”
Najib also clarified that Labuan has never been in any list of “tax havens”
issued by OECD and Malaysia has always been cooperative with competent authorities:
“At all times, Labuan IBFC, LOFSA and Malaysian authorities have been
co-operative with competent authorities from other countries on tax matters
and financial crime, particularly money laundering."
“Our commitment is further evident from the on-going efforts to tighten
provisions of EOI which are already in keeping with OECD requirements,”
Najib continued, going on to state:
“Certainly, we expect the OECD to amend the list to put us in the category
of jurisdictions that have committed to the internationally agreed tax standard."
In a statement, Labuan Offshore Financial Services Authority (LOFSA) welcomed
the approach by the G20 and OECD to take measures to stamp out tax evasion.
LOFSA said since its inception, the jurisdiction has met the highest international standards and has received positive assessments by the International Monetary
Fund (IMF) under its Offshore Financial Sector Assessment Programme.
In addition, Labuan IBFC has been affirmed as a “low-risk” jurisdiction
for money laundering by the Asia Pacific Group on Money Laundering which is
a division of the Financial Action Task Force and an associate body of OECD.
LOFSA said existing EOI provisions have already met OECD requirements. Efforts
are also taken to tighten them further through the legislative process. Malaysia,
as the world’s 19th largest trading nation, has double-taxation agreements with 69 countries.
These agreements have specific terms on the EOI which were in fact drafted
by OECD. These terms commit Malaysia to cooperate with regulators to eradicate
tax evasion.
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| THE LOWTAX LIBRARY
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