Posts Tagged ‘expat tax’
At the end of October a 15 percent tax on property bought by foreigners became valid in Hong Kong. The implementation aims to cool down the strongly overheated property market and it may be followed by further steps. For almost twenty years Hong Kong has been considered the world’s freest economy with the fewest regulations. […]
Last month the Cayman Islands announced what amounts to the territory’s first ever income tax. The Islands have long been revered as a sunny, tax-free haven for thousands of lawyers, accountants and other workers from around the globe. Now, however, this British territory looks set to change its image as the Premier McKeeva Bush announced […]
The announcement by Facebook co-founder Eduardo Saverin that he relinquished his U.S citizenship prior to Facebook’s IPO created a media storm. By becoming a Singapore resident, Saverin can take advantage of the zero capital gains tax levied in the country. This move means he can avoid paying a potential $67 million in taxes in the U.S. […]
The UK tax office has set up an investigative task-force to track down expats who haven’t declared overseas property. The team will “mine” publicly available online information to discover people who own land or houses abroad. The UK tax authority (HMRC) has put together a team of 200 investigators. Their first task will be in […]
China continues forging ahead with tax reforms, raising the hackles of expats all over the country. The new social insurance tax, for example, is devouring 48% of some expats’ salaries, without providing much in the way of added benefits. Hence we read this income tax primer from China Briefing with great interest. It’s a handy […]
Finance firms based in Jersey were recently lauded by the Global Forum on Transparency and Exchange of Information for Tax Purposes, tasked with assessing how well the sector responded to international standards for tax information. Jersey has responded to 84 information requests to date, and was described by the forum as being “effective and expeditious” […]
A double tax treaty recently inked by India and Switzerland grants Indian authorities the right to request information on suspected tax evaders for any period starting January 1st, 2011. This is one of just 70 tax treaties the Swiss have renegotiated since 2009, reported Simon Bradley at Swiss Info.ch, shedding further light on the once […]
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