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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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| 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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| THE LOWTAX LIBRARY
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