 |
|
|
 |
|
| |
|
| 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. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
|
|
| UK To Overhaul Executive Remuneration |
by Robin Pilgrim, LawAndTax-News.com, London
Tuesday, January 31, 2012
UK shareholders will be given more powers to block excessive pay proposals
and payments for failure under new proposals from the Business Secretary, Vince Cable.
Announcing a package of measures aimed at tackling excessive executive pay,
Cable said firms will also have to justify high salaries with clearer
and more informative remuneration reports. Cable's plans aim at addressing the
issue on four fronts: they will ensure greater transparency, so that what is
paid is clear and easily understood; more shareholder power so that companies
can be held to account; more diverse boards and remuneration committees (REMCOs),
to tackle the status quo; and best practice led by the business and investor
community.
To promote greater transparency, the government will require more information
on what benchmarks companies use to set executive pay and how pay policy relates
to company strategy and performance. Companies will have to produce a single
figure for total pay and show how spend on executive pay compares with other
payouts such as dividends and business investment.
The government will consult on giving shareholders binding votes on executive
pay policies and exit payments worth more than one year’s salary. It will
in future require companies to secure 75% shareholder support to pass the vote,
up from the current 50%. The coalition will also look at requiring clawback
clauses to be introduced in all contracts so that pay can be recovered if a
company does badly.
In an effort to promote diversity, the government will launch a renewed drive
to get more people from different professional backgrounds onto company boards.
It will investigate reducing the number of current executive directors serving
on other companies’ remuneration committees.
Companies will also be required to explain how they have consulted employees
and taken account of employee pay when they set board pay. Employees will be
encouraged to utilize their right to request that employers consult them on
pay deals.
Speaking at the Social Market Foundation, Cable said he is "challenging
this country’s world-class companies and executives to embrace the reforms
I have outlined, and work with us to renew public trust in UK business".
.
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
LAWANDTAX-NEWS.COM
