Monday, November 24, 2008

Links - Nov 24

Also see Offshore Watch and TJN's searchable historical news archive

Tesco calls for £300m tax break
Nov 24 (FT) - Britain's biggest retailer is calling on the government to give the nation's shopkeepers a £300m tax break by scrapping the annual inflationary rise in business rates next year.

Angry Shareholders Vent Over Barclays’ Investment Plan
Nov 24 (FT) - Mr. Agius, chairman of Barclays, said he declined the government money because the British bailout would have restricted bank policies on dividend payments. But he would not address payouts to other senior bankers, in particular Roger Jenkins, a middleman in the fund-raising who also runs Barclays’s hugely profitable tax arbitrage unit.

Darling unveils £20bn fiscal stimulus
Nov 24 (FT) The UK chancellor said he had asked for a review of how offshore tax havens were regulated within a view to ensuring that the UK did not have to pick up the tab for regulatory weaknesses elsewhere.

Isle of Man resists growing pressure on tax havens
Nov 23 (AFP) - After British finance minister Alistair Darling said "we need to take a long hard look at the relationship between this country and the Isle of Man, a tax haven sitting in the Irish Sea," Chief Minister Tony Brown sought an urgent meeting with the British government, returning with assurances that Britain has no intention of reviewing its constitutional relationship with the island, Brown told AFP that Darling's words were "a misunderstanding".

RAK aims to become offshore tax haven
Sept 18 (Gulf News) - Dubai: The government of Ras Al Khaimah has launched an offshore facility, the second in the UAE, that is expected to lure investors looking for a new tax haven.

UBS Clients Seek Amnesty on U.S. Taxes: Report
Nov 24 (Reuters) - Some wealthy clients of UBS AG are coming forward to make amends with U.S. tax authorities after a former UBS private banker was indicted, a sign that U.S. efforts to battle offshore tax evasion are having the desired effect, the Wall Street Journal reported on its website.

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