- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Life companies seek fund industry help with tax charge

Risk that billions could be withdrawn from UK property funds by Christmas

OECD proposals will shift taxable profits away from tax havens and back to customer countries by George Bull

The OECD has published new proposals for taxing international consumer-facing businesses.

EU Council Confirms Mauritius as Compliant with EU Tax good Governance Principles

On 10 October 2019, the Economic and Financial Affairs Council of the European Union (EU Council) confirmed that Mauritius complied with the good governance tax principles of the European Union (EU).

Rich Russians Demand New Tax Breaks

Business owners want a European-style tax system.

Dealing with Italian società semplici in a UK tax context

Most Italian domiciliaries become alert to international estate planning once they become UK deemed domiciled for inheritance tax purposes.

Taxes on polluting fuels are too low to encourage a shift to low-carbon alternatives

Taxes on road fuel are relatively high yet rarely fully reflect the cost of environmental harm, especially with some road transport sectors offered preferential rates.

UK government pays millions to firms that use tax havens

Report from thinktank Demos finds that 24 out of 35 ‘strategic suppliers’ operate in offshore jurisdictions

Italy’s tax treatment of cryptocurrencies: The risks and opportunities

This keeps crypto-assets fixed in the attention of investors and experts.

Maltese offshore wealth estimated at around €5.2 billion

The estimated offshore wealth doubled from €2.3 billion to €5.2 billion between 2011 and 2016

Italy unveils new landmark tax on internet giants

The new tax would be applied to companies with sales of over 750 million euros, of which at least 5.5 million euros come from services provided in Italy, according to Italian media reports.

Luxembourg 2020 budget bill: tax rulings issued before 2015 expire

Although the bill needs to go through the usual legislative process and the final law remains to be seen, this particular measure is likely to be adopted.

Norway’s tax system has increased inequality, report finds

It is this particular change which has had the biggest impact on overall income inequality, according to the SSB analysis.

Cyprus, Malta lead EU ranking of $1.6 trillion assets held offshore

Among the measures adopted in recent years to tackle tax dodging is the establishment of an EU blacklist of tax havens.

Divorcing couples: beware the capital gains tax trap

This change to the final period exemption could impact on a number of individuals, including those who have purchased a new home before completing the sale of their existing home.

Nordic Lenders at Risk From Eastern Europe’s Latest Tax on Banks

The lenders themselves declined to comment, saying communication is at this stage being carried out via the banking association.

Could IHT really be abolished?

The Office of Tax Simplification reports published in November 2018 and July 2019 set out some proposals for reforming inheritance tax.

Is an inheritance tax cut on the cards?

UK chancellor says ‘it’s something that’s on my mind’

Germany publishes revised tax law requiring disclosure of cross-border transactions

An intermediary must inform the tax authorities of these tax arrangements and the taxpayer’s involvement in the respective model and a range of other information.

Investment management tax alert - Deloitte

A significant number of US mutual funds have already filed EU withholding tax reclaims and some funds have received repayments in some jurisdictions.

RUSSIA: Update on beneficial ownership status for holding companies

To claim tax treaty benefits, such as reduced withholding tax rates on dividends and certain other income, foreign recipients of Russian-source income must meet the Russian BO requirements and provide comprehensive documentation supporting their BO status