By continuing your visit to this site, you accept the use of cookies. These ensure the smooth running of our services. Learn more.


European Union (EU) Tax Commissioner-designate Algirdas Semeta has urged member states to increase pressure on Austria and Luxembourg to sign the anti-fraud agreement with Liechtenstein

During a recent EU parliamentary committee meeting, the designated Tax Commissioner emphasized the fact that there are still member states within the EU who continue to oppose the agreement.

Given that the anti-fraud agreement with Liechtenstein is expected to serve as a model for the negotiation of further agreements with other countries, such as Switzerland and Monaco, it is imperative that the agreement is signed and sealed, he continued.

Source: Tax news

05:17 Posted in General | Permalink | Comments (0)


UBS Lays Out New Employee Ethics Code

Dow Jones Newswires has reported that UBS issued a code of ethics and conduct it will require all of its roughly 69,000 employees to sign, part of the Swiss bank's effort to restore its reputation after a messy U.S. probe into hidden offshore accounts.

The code sets standards of conduct in areas such as financial crime, competition, confidentiality, diversity and cross border business.

05:10 Posted in Switzerland | Permalink | Comments (0)


Relocating funds to the lightly regulated Luxembourg

Cayman Net News Online has reported that Luxembourg law firm Arendt & Medernach recently set up a representative office in Hong Kong.

Fund sponsors that would usually structure their funds in the Cayman Islands are increasingly seeking advice on relocating those structures to Luxembourg and using lightly regulated types of vehicles available there, says the local Arendt & Medernach representative quoted by Cayman Net News Online.

06:12 Posted in Luxembourg | Permalink | Comments (0)