Asia targeted by EU tax commmsioner

Asia targeted by EU tax commmsioner

Hong Kong and Singapore could be brought into the EU's tax net

The EU is looking to extend its tax net to incorporate wealthy citizens that
have moved to Hong Kong and Asia.

EU tax commissioner Laszlo Kovacs wants to bring to the countries into
Europe’s tax regime due to concerns that wealthy people are looking at these
distant places to set up tax shelters.

Tax officials from EU member states will look into plans to extend the EU
Savings Directive; agreement among finance ministers would see talks start with
Hong Kong and Singapore.

The move follows recent problems taxing savings in Switzerland and Luxembourg
due to loopholes in EU law, however, a spokeswoman for Kovacs told the
Financial Times that the low yield in these countries could be down to
money moved further afield.

Related Articles

Supreme Court rules against Pimlico Plumbers in landmark employment case

Legal Supreme Court rules against Pimlico Plumbers in landmark employment case

1m Alia Shoaib, Reporter
Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

Personal Tax Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

3m Alia Shoaib, Reporter
Rent-a-room relief – the survey says…

Personal Tax Rent-a-room relief – the survey says…

4m Helen Thornley, ATT Technical Officer
What should the OTS prioritise in its review of inheritance tax?

Personal Tax What should the OTS prioritise in its review of inheritance tax?

6m Alia Shoaib, Reporter
LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

7m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

8m Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

9m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

9m Emma Rawson, ATT Technical Officer