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Last updated on April 19, 2014 at 21:20 EDT

Latest Tax haven Stories

2009-03-14 15:24:16

Switzerland is bowing to international pressure, agreeing to end its policy of allowing secretive banking, officials said. The Times of London reported Saturday that the move means Switzerland will join Liechtenstein, Luxembourg and Andorra, which also agreed this week to share limited information on their accounts on request from foreign governments. The newspaper said Zurich's decision to end its 300 years of banking secrecy precedes the G20 meeting, where British Prime Minister Gordon...

2009-03-13 12:30:09

Switzerland said Friday it would alter its international banking policies to align itself with the Organization for Economic Cooperation and Development. Although Swiss Finance Minister Hans-Rudolf Merz said Switzerland was not laying to rest Swiss banking secrecy, the government, he said, was ready to begin negotiations on revising double taxation agreements. While the move faces internal opposition in Switzerland, the country faced international pressure and possible sanctions for its...

2009-03-12 14:54:37

The principality of Liechtenstein said Thursday it would conform to international standards of tax reporting, taking a step away status as a tax haven. In a statement, the government said it would accept Organization for Economic Co-operation and Development standards and supports the international measures against non-compliance with tax laws, The New York Times reported. In February, Swiss bank UBS agreed to pay a $780 million fine on charges it had helped thousands of U.S. citizens hide...

2009-02-19 07:45:00

RAS AL KHAIMAH, United Arab Emirates, February 19 /PRNewswire/ -- A prestigious dinner was organised and attended by H.H. Sheikh Ahmed bin Saqr Al Qasimi and many visiting and local dignities, in honour of the initiation of the Rotary Club of Ras Al Khaimah in Al Jazeera Restaurant Al Hamra Fort Hotel. (Photo: http://www.newscom.com/cgi-bin/prnh/20090219/338176 ) The dinner was attended by over 200 UAE Rotarians from Dubai and Ras Al Khaimah. It celebrated the presentation of...

2009-01-08 07:11:00

RAS AL KHAIMAH, UAE, January 8 /PRNewswire/ -- The Festival is considered a pioneering and authentic Emarati annual event in Ras Al Khaimah and is one of the defining local tourist attractions in the Emirate's tourism calendar. It attracts visitors from all over the GCC during the 3 weeks of the event. (Photo: http://www.newscom.com/cgi-bin/prnh/20090108/333866 ) The spring festival celebrates the emirate's ethnic and cultural heritage through theatre performances, cultural...

2008-10-15 12:00:28

Emarat, a producer and marketer of petroleum products, has started operation of a gas gathering, receiving and distribution station to supply customers in the Al-Hama and Al Ghail industrial areas in Ras Al Khaimah, United Arab Emirates. According to Emarat, the new station will increase the volumes of gas transported via Emarat Gas Pipeline Network over the next years, and increase its efficiency. The new station will continue to supply the gas network for the next 10 years at an average...

2008-09-27 03:00:26

By Anonymous On June 30, 2008, Tax Executives Institute submitted the following comments to Thomas Neale, Head of the European Commission's Task Force charged with developing a proposal for a common consolidated corporate tax base (CCCTB) throughout the European Union. TEl's comments were prepared under the aegis of TEl's European Direct Tax Committee, whose chair is Johann Muller of AP Moeller-Maersk. A task force established by the Directorate- General Taxation and Customs Union of the...

2008-07-23 09:00:39

Compliance to 'Green building codes' can increase the performance of structures by more than 30 per cent, according to recent studies, thereby prompting developers to recognise the dynamic role of the physical environment on occupant productivity and life-cycle cost of buildings. In line with this, AAKAR Marjan Island LLC, an emerging leader in luxury community developments in the Middle East, announced that they would be implementing a sustainable design approach for the construction of...

2008-07-17 06:00:19

By Kevin McCoy One operates an estimated $63 billion portfolio of 118 shopping centers and malls in the U.S., United Kingdom, Australia and New Zealand. Another manufactures and markets toys through a company with an estimated $35 million in annual sales and corporate offices in New York City, Holland, Hong Kong and Taiwan. And a third is a Florida-based construction contractor who reportedly amassed more than $49 million in family assets. Along with wealth and success, the...

2008-07-10 09:01:18

The government of Sharjah, in the United Arab Emirates, has signed a 20-year secondary contractor agreement with the Ras Al Khaimah Oil Company to create a 34 square-kilometer area for natural gas exploration, according to Emirates Business. The news source reported that the Ras Al Khaimah (RAK) Oil Company will appraise natural gas wells in the contracted area and is expected to process the gas at the new Al Sajaa facility, which is operated by BB Sharjah. RAK Oil accounts for 55% of the...