Global Financial Integrity - FACT Coalition: Close Offshore Tax Loopholes, Save Taxpayers Nearly $200 billion. Senator Carl Levin (D-MI) and Senator Sheldon Whitehouse (D-RI) Introduce CUT Loopholes Act February 11, 2013 E.J.
Fagan, +1 202 293 0740 x227 WASHINGTON DC – In the midst of a Congressional and White House showdown over the impending sequestration, and growing calls for corporate tax reform, Senator Carl Levin (D-MI) and Senator Sheldon Whitehouse (D-RI) put forth the Cut Unjustified Tax Loopholes Act (S. 268, CUT Loopholes Act). This bill, which closes loopholes and strengthens enforcement measures against offshore tax haven abuse, could raise nearly $200 billion over ten years. While large multi-national corporations are making record profits, many of them take advantage of a tax code riddled with loopholes that helps them winnow their tax bills down significantly. The Financial Accountability and Corporate Transparency (FACT) coalition, which actively works on the issues of offshore tax haven abuse and anonymous corporations, supports S.268 due to key provisions such as:
Task Force on Financial Integrity and Economic Development. Network. Www.oecd.org/daf/anti-bribery/Netherlandsphase3reportEN.pdf. Sharon signs open letter to ECOFIN Ministers calling for country-by-country reporting (Sharon Bowles MEP) February 25, 2013 1:41 PM Sharon Bowles MEP today joined with two colleagues from other political groups to send an open letter to all ECOFIN Ministers* calling for country-by-country reporting for financial transparency.
The letter reads: Dear Minister, You will no doubt be aware of the protracted negotiations on the Capital Requirements Directive and Regulation (CRD4/CRR). You may not be aware, however, that the EP has put forward a sensible and very short transparency article requiring banks to disclose - on a country-by-country level - key business figures including profits, taxes paid, and subsidies received.
Given the crucial and central role banks play in our economy, and the enormous public subsidies they have received from our governments at the expense of ordinary EU taxpayers, we hope that you will share the ambition to provide European citizens and investors with this limited but essential set of data. Please find enclosed a possible compromise proposal. Thank you very much 1.
Country statistical profile: Netherlands - Country statistical profiles: Key tables from OECD. How to Instruct - Atlas Tax Chambers - Taxation Law Barristers. Instructing Counsel Anyone who is not used to instructing counsel should speak with the Senior Clerk or a member of the clerking team who will be happy to take them through the process at any time.
Most instructions come on a referral basis from accountants, solicitors or in-house legal departments. However, some members accept instructions from other sources. The Senior Clerk can advise further on this. Which barrister? The Senior Clerk will be delighted to offer guidance as to the most appropriate member of chambers to instruct in any given circumstances. Contacting Chambers The Senior Clerk and members of the clerking team can be contacted by e-mail or telephone on all administrative issues, whether instructing a barrister, fees, the booking of conferences or arranging hearings.
Fees The Senior Clerk is happy to discuss fees at any time, either prior to, or on receipt of, instructions. Contact Chambers For full details of how to contact chambers please see the Contact page. Netherlands: The advantages of a Dutch holding company. Historically, many multinational companies, from all continents, have used the Netherlands as a holding jurisdiction and as their European business hub.
Notwithstanding the recent turbulent times, direct investments into Europe increased lately. Also the Netherlands, with its strong, internationally focused economy and open business environment witnessed an increase. Foreign investors are attracted by the beneficial tax system, by the business climate, strong financial sector, geographical location, quality of life, and, importantly, the pro-business government. Before commencing business activities in Europe many companies consider the Netherlands for structuring their holding and finance activities. Given the excellent business climate, the Netherlands is subsequently the usual suspect for operating activities like sales, marketing, distribution or research and development also. Corporate law: more flexibility The most notable changes of the new legislation are: Holding regime.
Atlas Tax Lawyers Fiscalisten. Taxation law - Atlas Tax Chambers - Taxation Law Barristers. Tax efficient transaction planning Members of Chambers give advice to individuals, trusts, partnerships and companies on how to carry out UK or offshore transactions in the most tax-efficient way.
These transactions often involve the sale and purchase of companies, real property and other assets, the tax efficient extraction of profits and gains, and the establishment of tax efficient asset holding or ownership structures. We also regularly advise on tax efficient succession planning, taking into account IHT and other capital taxes. We are also happy to give a post-transaction opinion or advice, whether for additional comfort, or because HMRC has shown some interest in the transaction.
In addition to tax, our members have a broad and detailed understanding of the general law (and in particular the law of trusts, companies, partnerships and insolvency) on which many of the important tax questions turn. Wp-content/uploads/2011/12/Tax-treaties-and-tax-Avoidance-CORIT.pdf. Prof.mr. S. van Weeghel.