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Latest Tax haven Stories

2011-09-15 03:45:00

DUBAI, UAE, September 15, 2011 /PRNewswire/ -- Sun, sand, mountains and glorious blue ocean is what comes to mind when one thinks of the Emirate of Ras Al Khaimah. Nestled among the majestic Hajar Mountains, the northernmost state of the UAE was once a thriving harbour town popular among traders and historians and till today draws visitors to its shores with the same allure. Recognizing all that Ras Al Khaimah has to offer, Seawings is giving its guests the chance to take...

2011-04-15 08:00:00

WASHINGTON, April 15, 2011 /PRNewswire-USNewswire/ -- As average Americans focus today on their income tax bill, Consumer Watchdog called on President Obama and the chairmen of the House and Senate tax committees to block calls for a tax holiday that would unfairly benefit corporate giants like Google. In a letter to the President, Chairman Dave Camp (R-MI) of the House Ways and Means Committee and Chairman Max Baucus (D-MT) of the Senate Finance Committee, the nonpartisan, nonprofit...

2011-03-09 09:15:00

NEW YORK, March 9, 2011 /PRNewswire/ -- As financial services leaders re-examine their businesses in light of regulatory and policy changes, several tax developments stand out as critical if they are to successfully manage their growth, according to tax specialists at KPMG LLP, the U.S. audit, tax and advisory firm. KPMG believes the Foreign Account Tax Compliance Act (FATCA), cost basis reporting, and the Regulated Investment Company Modernization Act of 2010 -- will create significant...

2010-10-05 06:59:00

RAS AL KHAIMAH, UAE, October 5, 2010 /PRNewswire/ -- RAK Petroleum Public Company Limited, the oil and gas exploration and production company, today signed an agreement with the Ras Al Khaimah Gas Commission(Rakgas) to take a 100 percent stake in and operatorship of the Saleh field offshore the Emirate of Ras Al Khaimah in exchange for 100,000,000 shares in RAK Education Company (EDRAK). RAK Petroleum already holds a 40 percent interest in the currently non-producing gas and condensate...

2010-02-23 05:18:00

LONDON, Feb. 23 /PRNewswire/ -- While the days of James Bond-style numbered Swiss bank accounts may be over, the world of discreet private banking and offshore wealth management is growing apace as financial uncertainty continues to make people seek safe havens. Despite highly-publicized government crackdowns on tax evasion around the world during the past year, more billions are headed for offshore banks and tax havens than ever before - with good reason, and it's all completely legal....

2010-01-06 12:44:00

Other 'Notables' Considered Include IRS Commissioner Douglas Shulman and House Ways and Means Chairman Charles B. Rangel FALLS CHURCH, Va., Jan. 6 /PRNewswire-USNewswire/ -- Tax Notes, the weekly publication on federal taxation, announced its "2009 Tax Person of the Year" - a whistleblower from Swiss banking giant UBS whom it called "the Benedict Arnold of the private banking industry." (Logo: http://www.newscom.com/cgi-bin/prnh/20060914/TALOGO) In this week's issue, Tax Notes cited...

2009-12-11 09:00:00

RAS AL KHAIMAH, UAE, December 11 /PRNewswire/ -- Ras Al Khaimah Free Trade Zone (RAK FTZ) marked its presence in a big way at the 9th World Free Zone Convention (WFZC) which was organised in Hyderabad from 9th to 10th December 2009. WFZC is an annual event and is "The No. 1 Meeting Place for the World's Free Zones". (Photo: http://www.newscom.com/cgi-bin/prnh/20091211/370614 ) Oussama El Omari, CEO of RAK FTZ had been invited by the organisers as a guest speaker on the topic...

2009-12-01 03:00:00

NEW YORK, Dec. 1 /PRNewswire/ -- The global financial crisis, government pressure, changing market dynamics for an industry experiencing significant change, and rapidly evolving healthcare reforms are likely to drive up the effective tax rate for the pharmaceutical and life sciences industry, according to a report released today by PricewaterhouseCoopers entitled Pharma 2020: Taxing times ahead - Which path will you take? The industry's response to these trends, including diminishing...

2009-10-04 05:32:00

RAS AL KHAIMAH, UAE, October 4 /PRNewswire/ -- RAK Investment Authority, the government agency responsible for attracting economic development and promoting the emirate of Ras Al Khaimah, issued a statement today addressing the concerns raised about security for the upcoming 33rd America's Cup to be held in February 2010. "The UAE and specifically Ras Al Khaimah is an extremely safe venue for the America's Cup. The Emirate of Ras al Khaimah has peaceful and friendly relations with...

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2009-09-14 11:05:00

The secretary-general of the Elysee said French President Sarkozy could walk out on next week's Group of 20 meeting if leaders fail to act on bank bonuses. In a radio interview, Secretary-General Claude Gueant -- Nicolas Sarkozy's chief of staff -- said a threat to walk out of the Sept. 24-25 G20 meeting in Pittsburgh should be taken very seriously, The Times of London reported Monday. The head of state is extremely determined as he was at the G20 in London a few months ago when he pushed for...