Tax-Avoidance Initiatives on Luxembourg Tax Planning

On Thursday lunchtime, STEP BeNeLux held a Lunch & Learn meeting at the Cercle Munster in Luxembourg-Grund, with James O’Neal guest speaker on the topic of Luxembourg Tax Planning in the New BEPS World. James O’Neal was introduced by STEP BeNeLux committee member Paolo Panico as an American tax lawyer and Tax Principal at AMMC…

STEP BeNeLux Addresses EU Succession Regulation

STEP BeNeLux (the Society of Trust and Estate Practitioners) organised a lunch event at the Cercle Munster in Luxembourg-Grund on Monday lunchtime on the topic of Preparing for the EU Succession Regulation. Over 30 members attended the event at which Dr Daniel Lehmann, Partner at Baker Tilly Roelfs in Munich, delivered the presentation which had…

PM in-Waiting Addresses STEP BeNeLux on Luxembourg City

STEP Benelux held a business luncheon today at the Cercle Munster with Xavier Bettel as special guest, talking on the topic of STRATEGY FOR THE DEVELOPMENT OF THE CITY OF LUXEMBOURG: CHALLENGES & OPPORTUNITIES. Xavier Bettel is a qualified lawyer and has been Mayor of Luxembourg city for the past two years. Following the recent…

STEP BeNeLux Investigates Investment Structures for China and Asia

STEP Benelux held a business luncheon today at the Cercle Munster with Kristina Koehler-Coluccia as special guest, talking on the topic of Holding Jurisdictions for Investments in China. She explained that she has grown up in China and lives in Shanghai, active in helping organisations set up in China, specifically international companies and inward investment…

Couple jailed for embezzling godmother’s savings

A Hartlepool couple have been jailed for more than two years each for stealing GBP100,000 from their mentally incapable godmother’s estate. Andrew Reeve arranged to have himself appointed as co-signatory to Joan Killen’s bank accounts in January 2009, after the 91-year-old was admitted to a care home suffering from dementia. Within two years the account…

Under 1 percent of Mexicans take advantage of income tax deductions

Less than 1 percent of Mexican taxpayers take advantage of income tax deductions offered to them by the Impuesto Sobre la Renta (ISR) legislation, according to the head of the Servicio de Administracion Tributaria (SAT) Aristotle Nunez. He explained in an interview with the newspaper El Financiero that anyone earning more than MXN400,000 a year is eligible…

UK-Switzerland tax agreement misses target

The UK Treasury will only receive a fraction of the revenues it expected from the one-off Swiss Capital Tax levied under the UK-Swiss tax agreement, according figures just released by HM Revenue & Customs. The agreement, which came into force in January, gave UK-resident owners of undeclared Swiss bank accounts the opportunity of regularising their…

Decision time on UK enveloped residential property

The first key deadline for the UK’s new Annual Tax on Enveloped Dwellings (ATED) return is less than two weeks away. This week HMRC published a 15-page notice giving guidance on how to complete the first ATED return. Most corporate owners of UK residential property worth more than GBP2 million must submit the return, including…

Rewrite of New Zealand trust legislation now imminent

New Zealand’s Law Commission has drafted a comprehensive new Trusts Act to replace the existing Trustee Act 1956. The Commission has been working on the project since 2009, although criticisms of the 1956 legislation go back to 2002 at least. It now says the existing statute is ‘in parts unreadable and its provisions are inaccessible when…

Netherlands backs corporate tax-planning

The Dutch government has publicly reassured international investors that it regards shifting profits to lower-tax jurisdictions as an acceptable corporate tax-planning strategy, and that unlike other countries it will not make any unilateral changes to taxation of international companies. The promise was made in an open letter sent last week by the Dutch Finance Minister…