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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.
 
WEF Puts UK First In Global Financial Center Listings

by Ulrika Lomas, Tax-News.com, Brussels Monday, October 12, 2009

The World Economic Forum (WEF) reported in its second annual Financial Development Report that the world’s largest financial centers still lead its 2009 Index rankings, although the effects of financial instability in the economic recession have pulled down their scores compared to last year.

The Report ranks 55 of the world’s leading financial systems and capital markets. The rankings are based on over 120 variables spanning institutional and business environments, financial stability, and size and depth of capital markets, amongst other factors. The financial crisis was acutely felt in most global financial systems and caused most countries’ scores to drop significantly compared to 2008.

The UK, buoyed by the relative strength of its banking and non-banking financial activities, claimed the Index’s top spot. However, the US, first in 2008, slipped to third position behind Australia, largely due to poorer financial stability scores and a weakened banking sector.

Australia showed particular strength this year, rising to second from a lowly eleventh, a trend echoed in many Asia-Pacific economies. Singapore and Hong Kong reached fourth and fifth in the 2009 Index, from tenth and eighth, respectively, in the previous year.

Germany and France suffered a heavy fall in overall scores that pulled them out of the top 10. They dropped in the rankings but demonstrated financial stability scores that were significantly higher than the UK and the US, which found themselves at 37th and 38th, respectively, in the financial stability rankings – worse than, for example, Nigeria, Bangladesh and South Africa.

Kevin Steinberg, Chief Operating Officer, World Economic Forum USA, said: “We hope this report will provide some insight as to how the financial crisis has affected the world’s major financial systems. It draws attention to the diversity of factors beyond financial stability that must be addressed to support the role of financial systems in driving economic growth. The United Kingdom and US may still show leadership in the rankings, but their significant drops in score show increasing weakness and imply their leadership may be in jeopardy.”

Some developing countries performed well in the financial stability section of the Index. Chile came in third, while Malaysia, Mexico and Brazil were all in the top 15. Norway and Switzerland took the top two spots in this category, with Hong Kong third and Singapore fifth.

The WEF stated that there is necessarily a lag in obtaining complete cross-country data used to calculate the Index. As successive iterations of the report are published, it added, the long-term effects of the crisis on financial system development would become increasingly clear.

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