International taxation http://www.globalpost.com/taxonomy/term/26765/all en Euro zone splinter group seen near deal on transaction tax http://www.globalpost.com/dispatch/news/thomson-reuters/130118/euro-zone-splinter-group-seen-near-deal-transaction-tax <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* EU's tax commissioner says close to deal on trading tax</p> <p>* Group of 11 euro zone countries set to pioneer levy</p> <p>* EU approval will allow group to finalise details</p> <p>By John O'Donnell</p> <p>BRUSSELS, Jan 18 (Reuters) - A group of euro zone countries, led by Germany and France, looks set for a green light next week to push ahead with a tax on financial transactions, a step politicians hope will please voters but which critics have warned could backfire.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130118/euro-zone-splinter-group-seen-near-deal-transaction-tax" target="_blank">read more</a></p> Business International taxation Public economics Taxation Thomson Reuters Fri, 18 Jan 2013 18:15:24 +0000 5736282 at http://www.globalpost.com UPDATE 3-EU states get blessing for financial trading tax http://www.globalpost.com/dispatch/news/thomson-reuters/130122/update-1-eu-states-get-blessing-financial-trading-tax <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Finance ministers allow 11 countries to pursue tax plan</p> <p>* EU's Semeta says levy could be imposed from January 2014</p> <p>* Britain, Luxembourg, Czech Republic and Malta object</p> <p>* Some see tax raising up to 35 billion euros annually</p> <p>By John O'Donnell and Robin Emmott</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130122/update-1-eu-states-get-blessing-financial-trading-tax" target="_blank">read more</a></p> Economics European Union International taxation Public economics Taxation Thomson Reuters Tue, 22 Jan 2013 10:45:26 +0000 5737656 at http://www.globalpost.com Large banks seen dodging EU financial tax bullet http://www.globalpost.com/dispatch/news/thomson-reuters/130123/large-banks-seen-dodging-eu-financial-tax-bullet <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Only 11 euro zone countries to impose planned tax</p> <p>* UK, Swiss financial centres will be outside the scheme</p> <p>* Vital details of tax remain to be settled</p> <p>* Sweden dismantled transaction taxes which backfired</p> <p>By Steve Slater</p> <p>LONDON, Jan 23 (Reuters) - A financial trading tax (FTT) planned by a group of euro zone nations could leave major banks, its main target, relatively unscathed while less nimble smaller trading houses, pension funds and asset managers bear the brunt.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130123/large-banks-seen-dodging-eu-financial-tax-bullet" target="_blank">read more</a></p> Finance International taxation Taxation Thomson Reuters Wed, 23 Jan 2013 19:15:36 +0000 5738449 at http://www.globalpost.com RPT-Large banks seen dodging EU financial tax bullet http://www.globalpost.com/dispatch/news/thomson-reuters/130124/rpt-large-banks-seen-dodging-eu-financial-tax-bullet <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Only 11 euro zone countries to impose planned tax</p> <p>* UK, Swiss financial centres will be outside the scheme</p> <p>* Vital details of tax remain to be settled</p> <p>* Sweden dismantled transaction taxes which backfired</p> <p>By Steve Slater</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130124/rpt-large-banks-seen-dodging-eu-financial-tax-bullet" target="_blank">read more</a></p> Finance International taxation Taxation Thomson Reuters Thu, 24 Jan 2013 09:15:04 +0000 5738707 at http://www.globalpost.com UPDATE 3-British PM takes aim at corporate tax avoiders http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-1-british-pm-warns-companies-pay-fair-taxes <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Kate Holton</p> <p>Jan 24 (Reuters) - Prime Minister David Cameron on Thursday criticised multinational corporations that avoid paying their fair share of tax, promising action against such aggressive strategies after a public backlash in Britain.</p> <p>The issue of tax avoidance by big business has turned toxic in recent years as millions of Britons struggle with low pay rises and austerity measures introduced to reduce the budget deficit.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-1-british-pm-warns-companies-pay-fair-taxes" target="_blank">read more</a></p> Business David Cameron Finance Hospitality International taxation Law Politics Public economics Taxation Thomson Reuters Thu, 24 Jan 2013 10:30:16 +0000 5738733 at http://www.globalpost.com UPDATE 2-Obama might back territorial tax system -business chief http://www.globalpost.com/dispatch/news/thomson-reuters/130131/update-1-obama-might-back-territorial-tax-system-business-chief <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Corporations want tax break on offshore income</p> <p>* White House has wavered in past on regime type</p> <p>* Tax code overhaul fate murky with crowded agenda</p> <p>By Kim Dixon</p> <p>WASHINGTON, Jan 31 (Reuters) - The chief of a group of more than 200 CEOs said on Thursday that President Barack Obama had told the business community last month he might back a territorial tax system, a regime that would exempt offshore corporate profits from U.S. taxation.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130131/update-1-obama-might-back-territorial-tax-system-business-chief" target="_blank">read more</a></p> Business Entertainment Environment Finance Health International taxation Politics Tax reform Technology Thomson Reuters Thu, 31 Jan 2013 20:46:04 +0000 5742203 at http://www.globalpost.com Obama Treasury pick Lew defends Cayman Islands investment http://www.globalpost.com/dispatch/news/thomson-reuters/130213/obama-treasury-pick-lew-defends-cayman-islands-investment <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>WASHINGTON, Feb 13 (Reuters) - Jack Lew, President Barack Obama's Treasury secretary nominee, defended his decision to invest in a fund that was registered in the Cayman Islands, saying on Wednesday that he was not aware it was located in the tax haven when he made the investment.</p> <p>Lew said he eventually sold his position in the Citigroup venture capital fund at a loss and did not receive any tax benefit. Lew was testifying before the Senate Finance Committee, which is in charge of vetting him to serve as Treasury secretary.</p> Anti-globalization International taxation Jack Lew Offshore finance Thomson Reuters Wed, 13 Feb 2013 16:30:09 +0000 5754723 at http://www.globalpost.com WRAPUP 3-U.S. Treasury pick seeks consensus on taxes, deflects Citi barbs http://www.globalpost.com/dispatch/news/thomson-reuters/130213/wrapup-2-lew-faces-grilling-citigroup-at-us-senate-hearing <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Jack Lew expected to eventually win Senate backing</p> <p>* Lew: Citigroup bonus was in line with others in industry</p> <p>* Tax reform a focus; Lew shows appetite to tackle it</p> <p>By Anna Yukhananov and Rachelle Younglai</p> <p>WASHINGTON, Feb 13 (Reuters) - Jack Lew, President Barack Obama's pick to be U.S. treasury secretary, on Wednesday fended off criticism about his financial experience and tried to find common ground on tax reform with lawmakers considering his nomination.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130213/wrapup-2-lew-faces-grilling-citigroup-at-us-senate-hearing" target="_blank">read more</a></p> Anti-globalization Business Citigroup Council on Foreign Relations Entertainment Environment Health International taxation Jack Lew Jacob Lew Politics Politics of the United States Presidents of the United Nations Security Council Thomson Reuters Wed, 13 Feb 2013 16:30:27 +0000 5754724 at http://www.globalpost.com Germany's Merkel calls for G8 fight against tax havens http://www.globalpost.com/dispatch/news/thomson-reuters/130213/germanys-merkel-calls-g8-fight-against-tax-havens <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>DEMMIN, Germany, Feb 13 (Reuters) - Chancellor Angela Merkel took aim on Wednesday at multinational corporations that use tax rules in Europe and the United States to avoid payments and said the Group of Eight plans to fight tax havens.</p> <p>"It's not right that giant global companies have huge sales here (in Germany), in all of Europe, in the United States and elsewhere and then only pay taxes somewhere in a tiny tax haven," Merkel said in a speech in the northern town of Demmin.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130213/germanys-merkel-calls-g8-fight-against-tax-havens" target="_blank">read more</a></p> Finance International taxation Taxation Technology Thomson Reuters Wed, 13 Feb 2013 20:00:27 +0000 5754960 at http://www.globalpost.com UPDATE 1-EU plans 11-nation financial trading tax from 2014 http://www.globalpost.com/dispatch/news/thomson-reuters/130214/update-1-eu-plans-11-nation-financial-trading-tax-2014 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Investors, insurers say tax will hit savers</p> <p>* Lawyer warns of double, multiple taxation</p> <p>* Austria's Fekter welcomes plan to boost coffers</p> <p>By Huw Jones</p> <p>LONDON, Feb 14 (Reuters) - The European Union's executive formally proposed on Thursday a tax on financial trading in 11 countries to raise up to 35 billion euros annually, a step investors said would hit savers and pension pots.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130214/update-1-eu-plans-11-nation-financial-trading-tax-2014" target="_blank">read more</a></p> International taxation Public economics Social Issues Taxation Thomson Reuters Thu, 14 Feb 2013 13:32:02 +0000 5755391 at http://www.globalpost.com EU finance trade tax applicable globally: Brussels http://www.globalpost.com/dispatch/news/afp/130214/eu-finance-trade-tax-applicable-globally-brussels-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>A financial transactions tax to be adopted by 11 EU states will raise 30-35 billion euros each year but controversially, the levy will also be applicable world-wide, the European Commission said Thursday.</p> <p>The Financial Transaction Tax (FTT) imposes tax of 0.1 percent on a trade in shares and bonds, and of 0.01 percent for derivative instruments.</p> <p>The estimated total is equivalent to $40-$46.6 billion.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130214/eu-finance-trade-tax-applicable-globally-brussels-0" target="_blank">read more</a></p> European Union International economics International taxation Taxation AFP Thu, 14 Feb 2013 19:01:24 +0000 5755738 at http://www.globalpost.com Switzerland, US sign pact against tax evasion http://www.globalpost.com/dispatch/news/afp/130214/switzerland-us-sign-pact-against-tax-evasion <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The Swiss government said on Thursday it had signed a controversial deal with the United States requiring all Swiss banks to report the holdings of their US clients to US tax authorities.</p> <p>The agreement, which was initialled in Washington late last year, aims to simplify Switzerland's implementation of the US Foreign Account Tax Compliance Act (FATCA), a source of dispute between the two countries since it was announced in March 2010.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130214/switzerland-us-sign-pact-against-tax-evasion" target="_blank">read more</a></p> Finance International taxation Privacy AFP Thu, 14 Feb 2013 19:02:17 +0000 5755768 at http://www.globalpost.com EU states want 'fair tax share' from big business http://www.globalpost.com/dispatch/news/afp/130216/eu-states-want-fair-tax-share-from-big-business <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The finance ministers of Britain, France and Germany on Saturday launched a new drive to force big business to pay its fair share of tax and halt the schemes of top firms to keep payments to a minimum.</p> <p>Britain's George Osborne, France's Pierre Moscovici and Germany's Wolfgang Schaeuble said it was time for internationally-coordinated action to clamp down on the practice of shifting profits from the company's home country to pay less tax under another jurisdiction.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130216/eu-states-want-fair-tax-share-from-big-business" target="_blank">read more</a></p> Business Finance International taxation Social Issues Technology AFP Sat, 16 Feb 2013 10:45:38 +0000 5757414 at http://www.globalpost.com G20 'determined' to halt cooperate tax avoidance http://www.globalpost.com/dispatch/news/afp/130216/g20-determined-halt-cooperate-tax-avoidance <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The G20 group of the world's top economies expressed determination Saturday to crack down on companies who duck their full taxation responsibilities with elaborate schemes.</p> <p>The call came after the finance ministers of Britain, France and Germany said it was time for coordinated action to halt the practice of shifting profits from a firm's home country to pay less tax under another jurisdiction.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130216/g20-determined-halt-cooperate-tax-avoidance" target="_blank">read more</a></p> Business Finance International taxation Technology AFP Sat, 16 Feb 2013 15:46:06 +0000 5757574 at http://www.globalpost.com CORRECTED-European shares edged up on new-month investments http://www.globalpost.com/dispatch/news/thomson-reuters/130301/european-shares-edged-new-month-investments <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Corrects name in 8th para to Jerry Avenell from Jerry Avel) * EuroSTOXX 50 up 0.1 pct, FTSEurofirst up 0.2 pct * FTSE MIB hit by Italian financial transaction tax * Chinese data weighs on miners By Toni Vorobyova LONDON, March 1 (Reuters) - European shares edged up on Friday as investors put on fresh bets at the start of the month, but gains were capped by concerns about the global economy in the face of looming U.S. budget cuts and weak Chinese data. Some $85 billion in U.S.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130301/european-shares-edged-new-month-investments" target="_blank">read more</a></p> Business International taxation Politics Stock market Taxation Thomson Reuters Fri, 01 Mar 2013 09:31:11 +0000 5770655 at http://www.globalpost.com