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Gibraltar > Legal Developments > Tax & Private Client > Law firm and leading lawyer rankings

Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

TAX APP

November 2012 - Tax & Private Client. Legal Developments by Hassans.

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Hassans International Law Firm have launched their first ever Gibraltar law firm Tax App, an innovation for law firms and unique in Gibraltar. The creation of the Tax App, launched today is available to download free from the App Store.

International Tax Planning Association Journal – Madrid 19-20 March 2012 – Vol XII Number 3

September 2012 - Tax & Private Client. Legal Developments by Hassans.

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When we talk about Gibraltar and the EU perspective, we really are talking about a defining element of what has been driving Gibraltar over the last twenty-five or thirty years. Our membership of the European Union is not something that has been incidental and has not had a dramatic impact on Gibraltar; it has been very important in the direction that Gibraltar has taken over that period of time. Gibraltar - as you know - is attached to Southern Spain. Gibraltar and its position in the European Union is quite a fascinating study and a fascinating situation to explain.

Hague makes EU tax Case Statement

January 2012 - Tax & Private Client. Legal Developments by ISOLAS.

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13-01-2012 | by Gibraltar Chronicle

Foreign Secretary William Hague has made a written statement to the British Parliament on the European Court Judgement on taxation in Gibraltar. In this he states that the ECJ’s decision not to examine the issue of regional selectivity means that there has been no change in the principles established by the Court in the Azores case.

Business Braced For Sales Tax Chaos In BC

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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British Columbia's decision to scrap the harmonized sales tax (HST) system has provoked a mixed reaction from the business community, but opinion is largely unanimous that businesses and the government alike must think about making the transition back to the provincial and general sales tax regime as smooth as possible.

Tax Incentive for Property Purchase in Spain, but not for long!

September 2011 - Tax & Private Client. Legal Developments by ISOLAS.

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New government initiative could save you thousands in VAT on new-build property purchases

The deepening financial crisis in Spain and the emerging fears of a renewed downturn in the months following summer, the annual economic shot in the arm of most Southern European countries, the Spanish Government has decided that in addition to the painful austerity measures and cuts in spending, economic recovery will only come if Spain can attract continued inward investment.

Spain Cuts VAT On New Houses

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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In an effort to revive the country's stagnant housing market and support the construction industry, the Spanish government has announced that it will reduce the rate at which sales tax is applied to the sale of new housing.

James Hardie Wins Large Back Tax Appeal

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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James Hardie Industries has successfully appealed against a huge tax bill handed out by the Australian Tax Office (ATO) in relation to a corporate restructuring which took place over a decade ago.

Lee Stresses Importance Of KORUS FTA

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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In a radio and internet address, South Korea's President Lee Myung-bak has emphasized the importance of the global market for the country and, within that context, the government's core strategy of securing free trade agreements (FTAs).

France Snubs Swiss Tax 'Deal'

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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France has, for the time being at least, reportedly ruled out the idea of concluding a bilateral tax deal with Switzerland, aimed at resolving the ongoing issue of tax evasion, following recent advances from and talks with the Confederation.

IRS Fixes Date Of Contractors Tax Hearing

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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The United States Internal Revenue Service (IRS) has announced that a hearing will be held on September 12 to consult on the proposed introduction of the 3% contractors' withholding tax, which could come into force on January 1, 2013.

Tobin Tax Is 'Economic Suicide' UK Business Warns

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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Plans for a European financial transactions tax have been slammed as reckless, unlikely to raise significant revenues and economic suicide by members of the UK's business community.

US Taxpayers May Credit UK Non-Dom Levy

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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The Internal Revenue Service (IRS) has decided that US taxpayers resident in the UK can now offset the UK non-dom levy against their US tax bill.

Switzerland Plans EUR2bn Business Support Package

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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Determined to mitigate the effects of the rapid rise of the Swiss franc, to support the Swiss economy and to strengthen Switzerland as an industrial centre, the Swiss Federal Council recently announced plans to swiftly introduce a CHF2bn (EUR1.8bn) package of measures targeting affected businesses.

Noonan Outlines Ireland's Stance On Euro Taxes

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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Ireland's corporate tax rate is safe and will not be hit by French and German plans to harmonize their levies as part of a pact to save the eurozone, Finance Minister Michael Noonan has said.

Italy Debates More Budgetary Options

September 2011 - Tax & Private Client. Legal Developments by Hassans.

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With the Italian parliament being called back from holiday to consider the draft decree containing the anti-crisis budget measures which the government has put forward to accelerate the balancing of the country's budget, other policies are already being touted to replace its more contentious elements.

Australia To Improve Fund Manager Tax Regime

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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The Australian government is promoting Australia's fund managers and financial expertise to overseas investors by releasing draft tax legislation that will bring Australia's investment manager regime more closely in line with other financial services centres.

Sweden Suspends Income Tax Cuts

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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In a joint press conference Swedish Prime Minister Fredrik Reinfeldt and Finance Minister Anders Borg have announced that planned tax cuts will be put on ice due to the uncertainty surrounding the eurozone.

Germany, Liechtenstein Edge Closer To Tax Deal

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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Germany and the Principality of Liechtenstein recently initialled in Berlin a draft agreement, designed to avoid double taxation and tax evasion in the area of taxes on income and capital.

Barbados Budget Unveiled

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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'Uncertain economic times' have led the Barbadian Finance Minister to introduce a Budget full of new tax measures, as part of a plan to drive down the deficit and stimulate economic growth.

Lukoil Unofficially Wins Bulgarian Tax Spat

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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Bulgarian tax authorities have admitted that they will not be able to enforce sanctions on the country's only domestic energy producer, Russian-owned Lukoil, for failing to introduce metering in their operations as part of measures to prevent tax evasion.

Irish Pension Group Attacks Fund Levy

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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The Irish government's introduction of a pension fund levy could see pensioners facing a 10% cut in their annual payments, according to a trustee board campaigning against the tax.

Indonesia To Lure Major Investors With Tax Holidays

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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Indonesia's Minister of Finance, Agus Martowardojo, has announced that long-awaited regulations will be issued to introduce tax holidays, as well as revise the country's tax allowances, for new direct investments in selected industries.

Debate On UK's Top Tax Rate Rumbles On

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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The UK's top rate of personal income tax will not be a permanent fixture, according to the Chancellor, who has said that the country needs its taxes to be competitive.

UK, Swiss Tax Deal Imminent

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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The UK looks certain to join Germany in securing a lucrative tax deal with Switzerland, with both Swiss and British authorities claiming a deal is imminent.

China To Experience Slower Tax Revenue Growth

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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At the same time as announcing an annual rise of more than 30% in tax revenues in the first seven months, China?s Ministry of Finance warned that revenue growth will slow down slightly during the second half of this year.

Germany Denies Fresh Tax Disc Purchase

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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Germany's finance ministry has recently denied reports that the country's investigating authorities have purchased a new tax data disc, containing the names of thousands of Germans alleged to have evaded taxes in Switzerland. Such revelations risk provoking a fresh row between the two countries, newly united over the issue.

Canada's Tax System 'Too Complex' Say Accountants

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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Canada's "overly complex" tax system imposes unnecessary and significant hidden costs on businesses and consumers, the Certified General Accountants Association (CGA) of Canada has said, calling for the launch of a debate on tax simplification.

UK Offers Concessions To Riot-Hit Businesses

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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In an effort to help those businesses affected by the recent riots, the UK's government and revenue agency have unveiled a series of support measures, including government funding of business rates and the negotiation of tax payment schedules.

Rising US Healthcare Provision Has Tax Consequences

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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While there has been criticism of Standard and Poor's (S&P) decision to downgrade United States debt, a paper from the Tax Foundation says that there are good reasons why it makes sense, particularly as the debt ceiling deal fails, either by cutting spending or increasing taxes, to take care of rapidly-rising healthcare spending.

Switzerland, Germany Conclude Landmark Tax Deal

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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In a move to quash longstanding tax disputes between the German government and Swiss financial institutions, the governments of Germany and Switzerland on August 10 concluded negotiations on tax issues and initialled a framework for the future taxation of funds deposited in Switzerland by German residents.

Cyprus Prepares Emergency Tax Measures

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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Cypriot Finance Minister, Kikis Kazamias has urged the adoption of proposals to rein in the country's deficit to avoid a European Union bailout, including an increase to the value-added tax rate and an annual registration fee for companies.

EC Continues To Support Russian WTO Membership

August 2011 - Tax & Private Client. Legal Developments by Hassans.

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The European Council is ready to meet Russia halfway on the issues still hindering its World Trade Organisation (WTO) membership bid, the Kremlin has said.

US Debt Negotiations Still Stuck On Taxes

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Despite recent intense negotiations between President Barack Obama and the top leaders of both political parties an agreement on a package of measures to allow an increase to the United States debt ceiling has not been reached.

France Mulls Paring Down Of Tax Breaks

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Budgetary rapporteur of the French Senate Philippe Marini has recently put forward the idea of paring down as broadly as possible existing tax breaks in France (les niches fiscales), passing right across the board, and within the framework of the country's 2012 budget.

Australian Carbon Tax Details Published

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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The Australian government has released comprehensive plans to tackle carbon emissions by placing a levy on around five hundred of the country's largest producers, with the impact on consumers offset by a variety of changes to personal income taxation and welfare payments.

Germany Gives Green Light To Bank Tax

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Following a long and difficult debate, Germany's upper house of parliament or Bundesrat has finally adopted the government's decree pertaining to a restructuring fund, and approved, although with changes, specific details of its proposed bank levy.

Italian Budget Cuts Detailed

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Following the presentation of a modified decree containing the Italian government's proposed budget reductions, an explanation has been provided of how they should eliminate Italy's budget deficit by 2014.

Panama Removed From OECD 'Grey List'

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Panama has followed Costa Rica in being removed from the Organization for Economic Cooperation and Development's (OECD) 'grey list' of countries which have yet to substantially implement international standards on the exchange of tax information.

Jersey Company Used For Major London Listing

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Mourant Ozannes has advised Vallares plc, a Jersey company, on its flotation on the Main Market of the London Stock Exchange, which raised GBP1.35bn (USD2.15bn)  the second largest such flotation this year, just seven days after making an announcement that it intended to launch an initial public offering (IPO).

Portugal Plans Windfall Tax On Income

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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During his first appearance in parliament since his election on June 5, Portugal's Prime Minister Pedro Passos Coelho announced plans to impose a one-off windfall tax on income in Portugal at the end of the year. He also revealed government plans to accelerate structural reforms.

SARS Issues Micro-Business Tax Guide

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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The South African Revenue Service (SARS) has issued a tax guide containing information about the operation of the simplified tax system for micro-businesses.

Gibraltar Cuts Income Tax

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Peter Caruana, Gibraltar's Chief Minister, has released his budget for the fiscal year 2011/12, which introduces a number of rate and threshold changes to the personal income tax system, among other changes.

UK Reforms Rules To Boost SME Investment

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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UK Reforms Rules To Boost SME Investment In an effort to encourage more equity financing of small and start-up businesses in the UK, the government has launched a consultation on proposals for reforms to the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs).

Elements Of Canadian Budget Pass Legislative Hurdle

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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A key part of Canada's Budget, aimed at assisting senior citizens, has passed through parliament, resulting in the restructuring of a series of benefits, and the introduction of tax credit and relief measures.

France Mulls Tax On Executive Pay

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Following a recent meeting with the French association of private enterprises (Association franaise des entreprises prives AFEP), French Labour Minister Xavier Bertrand unveiled details of government plans to increase the tax burden on companies in France according extravagant salaries to their top business executives.

Germany Delays Key Tax Talks

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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Despite earlier plans to forge swiftly ahead with tax cut discussions before the legislature's summer recess, Germany's black-yellow coalition government has now announced its decision to delay negotiations until the autumn. Germany's opposition parties have described the latest announcement as a further defeat for the Free Democratic Party.

KORUS FTA Faces Renegotiation

July 2011 - Tax & Private Client. Legal Developments by Hassans.

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During a meeting with South Korea?s President Lee Myung-bak, the parliamentary opposition leader, Sohn Hak-kyu, has insisted that the text of the South Korea-United States free trade agreement (KORUS FTA) should be renegotiated.

Tax Planning - THE GIBRALTAR LINK

July 2011 - Tax & Private Client. Legal Developments by ISOLAS.

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By Peter Isola

Does tax planning still work in a world of Tax Information Exchange Agreements ('TIEAs'),' ever stricter compliance and KYC regimes, a focus on taxation on the wealthy and the targeting of tax havens? 

Business Blasts Key's Lack Of Budget Ambition

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The government has taken some commendable decisions in the budget but they do not amount to a coherent plan for economic growth and for removing serious foreseeable risks, says Roger Kerr, executive director of the New Zealand Business Roundtable.

Bermuda Announces Transparency Law

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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Bermuda is to amend key elements of its business legislation in a bid to comply with Organization of Economic Cooperation and Development (OECD) recommendations and meet international standards on tax transparency.

Australian Mining Royalty Dispute Kicks Off

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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With Western Australia's (WA) state budget last week came the surprise announcement that it will be increasing iron ore royalties from next year.

Taiwan Brings Forward Luxury Tax

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The Ministry of Finance has announced that the Selective Goods and Services Sales Tax Act, which establishes Taiwan's new luxury taxes targeted at reducing speculative property purchases and a widening wealth gap in the economy, are to take effect earlier than originally expected on June 1.

S&P Places Italy On Negative Outlook

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The country's political uncertainty, which has weakened its prospects for economic recovery and increased the perceived risks associated with the government's fiscal debt reduction programme, has led Standard and Poor's (S&P) to lower the outlook on Italy's credit rating.

IRS Hears Opposition To Reporting Rule

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The United States Internal Revenue Service (IRS) has held a hearing at which it heard testimony urging immediate withdrawal of a proposed rule on the reporting of interest paid to non-residents by US banks.

UK CFC Rules Still Break EU Law

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The UK must amend its legislation on the tax treatment of controlled foreign companies, as it fails to fulfil European Union (EU) Treaty obligations or adequately take into account relevant court rulings, the European Commission has said.

Shulman Looks At IRS Priorities

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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During remarks made by the United States Internal Revenue Service (IRS) Commissioner Doug Shulman to the Johns Hopkins Carey Business School in Baltimore, he looked at the IRS?s main strategic priorities for the next decade.

Jersey To Amend 'Zero-Ten' Regime

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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Jersey's Treasury Minister, supported by the Council of Ministers, is announcing his intention to repeal those elements of Jersey?s corporate tax regime which were deemed harmful by the EU Code of Conduct Group.

Germany's CDU Split On Tax Cuts

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The ongoing political storm surrounding tax cuts in Germany has intensified, as Bavaria?s Finance Minister and member of the ruling Christian Social Union (CSU) Georg Fahrenschon has joined in calls for the fiscal burden to be reduced on individuals in this legislative period. The remarks have clearly divided Chancellor Angela Merkel?s Christian Democratic Union (CDU) party.

UK Trials New Tax Compliance Process

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The UK's revenue agency is to run trials of a single compliance process for enquiries across a range of different taxes, designed to simplify and standardize the system.

Irish Parliament Rejects CCCTB

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The Irish parliament has passed a motion denying the legality of European Commission proposals for a Common Consolidated Corporate Tax Base (CCCTB), after a debate in which the measure was slammed as an attempted assault on the country's 12.5% corporate tax rate.

Japan Delays TPP Decision

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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As a further consequence of the earthquake and tsunami in March this year, it has now been officially confirmed that Japan?s decision on whether to join the Trans-Pacific Partnership (TPP) will be delayed beyond its expected June deadline.

US Senate Stalls Cut To Oil Industry Tax Breaks

May 2011 - Tax & Private Client. Legal Developments by Hassans.

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The United States Senate has rejected a bill which would have cancelled the USD21bn in tax breaks that the country?s oil and gas industry is expected to receive over the next ten years, and dedicated the increased revenue generated to the reduction of the federal budget deficit.

Advocate General opines appeals should be dismissed

May 2011 - Tax & Private Client. Legal Developments by ISOLAS.

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The Advocate General proposes that the Court should uphold the annulment of the Commission decision which found that the reform of Gibraltar corporate tax proposed in 2002 constituted unlawful State aid

In August 2002, the United Kingdom notified the European Commission of Gibraltar’s proposed reform of corporate tax, That reform included in particular the repeal of the former tax system and the imposition of three taxes applicable to all Gibraltar companies, namely a registration fee, a payroll tax and a business property occupation tax, with a cap on liability to payroll tax and business property occupation tax of 15% of profits.

Tax Fact Sheet ‘A home for your Holding Company’

January 2011 - Tax & Private Client. Legal Developments by Hassans.

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Many jurisdictions now have in place a specialist “Holding Company Regime”. At present Gibraltar does not distinguish between holding companies and companies for other purposes, but certain characteristics of the overall Gibraltar regime for companies make the jurisdiction particularly attractive.

New Corporate Tax Regime Redefines Gibraltar

January 2011 - Tax & Private Client. Legal Developments by Hassans.

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There are many factors which would attract someone to relocate to Gibraltar. Situated on the southern tip of the Iberian peninsula, “the Rock” enjoys a temperate Mediterranean climate with mild winters and warm summers. The accessibility of nearby historical and cultural Andalucia in Spain, coupled with its spectacular scenery and wildlife, makes Gibraltar a popular destination.

When the Past, Present and Future, meet.

January 2011 - Tax & Private Client. Legal Developments by Hassans.

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'Tax havens' have come under considerable outside pressure over the last 10 years. As a Gibraltar legal practitioner, I took an early professional interest in writing about developments in the offshore industry and I could sense the change in the wind and prevailing currents that had propelled a handful of small jurisdictions into the forefront of international finance. I took the view that they could not afford to remain still.

Business and individuals to benefit from new tax law

December 2010 - Tax & Private Client. Legal Developments by Hassans.

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A new Tax Act has signaled the end of Gibraltar as a jurisdiction that relied on administrative and statutory ring fencing and secretive tax exempt companies and trusts to attract inward investment, as former Advisor to the Income Tax Commissioner, Chris White, explains.

When the Past, Present and Future, meet.

December 2010 - Tax & Private Client. Legal Developments by Hassans.

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'Tax havens' have come under considerable outside pressure over the last 10 years. As a Gibraltar legal practitioner, I took an early professional interest in writing about developments in the offshore industry and I could sense the change in the wind and prevailing currents that had propelled a handful of small jurisdictions into the forefront of international finance.

When the Past, Present and Future, meet.

November 2010 - Tax & Private Client. Legal Developments by Hassans.

More articles by this firm.

'Tax havens' have come under considerable outside pressure over the last 10 years. As a Gibraltar legal practitioner, I took an early professional interest in writing about developments in the offshore industry and I could sense the change in the wind and prevailing currents that had propelled a handful of small jurisdictions into the forefront of international finance. I took the view that they could not afford to remain still.

Business and individuals to benefit from new tax law

November 2010 - Tax & Private Client. Legal Developments by Hassans.

More articles by this firm.

A new Tax Act has signaled the end of Gibraltar as a jurisdiction that relied on administrative and statutory ring fencing and secretive tax exempt companies and trusts to attract inward investment, as former Advisor to the Income Tax Commissioner, Chris White, explains.

Gibraltar Income Tax Act 2010

October 2010 - Tax & Private Client. Legal Developments by Hassans.

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Recent Developments in the Gibraltar Tax System The last months of summer were a busy time for tax professionals in Gibraltar and, in particular, for Chris White and Albert Mena, the senior partners of Hassans’ Tax and Overseas Property Team.

EU Funds Market Faces Tax Barriers

September 2010 - Tax & Private Client. Legal Developments by Hassans.

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An industry research report published jointly by the European Fund and Asset Management Association (EFAMA) and KPMG?s European Investment Management practice shows that there are significant tax complications in the new Undertakings for Collective Investment in Transferable Securities (UCITS IV) Directive that prevent the achievement of a harmonized European funds industry.

UK To Forge Ahead With Corporate Tax Reform

September 2010 - Tax & Private Client. Legal Developments by Hassans.

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Mark Hoban, the Financial Secretary to the UK Treasury, confirmed in a speech on September 20 the government's desire to move the country towards a more territorial system of corporate taxation.

Gibraltar Government publishes Income Tax Act amendments

September 2010 - Tax & Private Client. Legal Developments by ISOLAS.

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In June 2010, the Government published a draft of an intended Bill for a new Income Tax Act. The draft was accompanied by a pre legislative briefing paper that summarised, in narrative form, the main changes to the current legislation introduced by the intended draft Bill.

Guernsey Leads In Captive Insurance

March 2010 - Tax & Private Client. Legal Developments by Hassans.

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Two new studies have reaffirmed Guernsey?s position as the leading captive insurance centre in Europe, and among the top four in the world.

France Plans Corporate Tax Reform

March 2010 - Tax & Private Client. Legal Developments by Hassans.

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French Finance Minister Christine Lagarde has confirmed plans to reform corporate taxation in France.

Darling Leaves UK Tax On Hold

March 2010 - Tax & Private Client. Legal Developments by Hassans.

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Delivering the government's last budget before the general election, Chancellor Alistair Darling decided against any further increases in income tax over and above those measures he has already announced.

the proposed legislative framework for the incorporation of limited liability partnerships

November 2009 - Tax & Private Client. Legal Developments by ISOLAS.

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The Limited Liability Partnerships Bill 2008 (the “Act”) is little more than a framework piece of legislation, only containing details of incorporation, membership and taxation. The Act empowers the Minister for Finance to adopt regulations, likely to be known as the Limited Liability Partnerships Regulations 2008, to regulate the management and winding-up of limited liability partnerships (LLP(s)).

Budget Accelerates Corporate Tax Cut

December 2008 - Tax & Private Client. Legal Developments by Hassans.

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Chief Minister Peter Caruana on June 3 presented Gibraltar’s 2008 budget, which accelerates the timetable for previously announced reductions in the corporate tax rate and lowers the personal income tax rate for some taxpayers.

Living or thinking about moving abroad

August 2008 - Tax & Private Client. Legal Developments by Hassans.

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If you have not been resident in the UK for five years or intend not to be resident for five years, transferring your pension out of the UK can result in large UK tax savings. In certain circumstances you may also have access to 100% of your funds, when transferring to an appropriate tax friendly country.

Face-to-Face Service for Hassans’ Expatriate Clients

July 2008 - Tax & Private Client. Legal Developments by Hassans.

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The global credit crunch and the resultant slowing of Spain’s housing market has hit tens of thousands of expatriate Britons — as well as other northern Europeans — who own holiday or retirement homes in Andalucia.

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