Search Results for: EC
Deloitte warns platforms of EU tax nightmare
July 1st, 2014
Incoming European tax legislation could cause a headache for UK platforms with non-UK citizen clients, who would be liable to pay VAT on providers’ services, consultants Deloitte has warned. Daniel Lyons, partner at Deloitte, said platforms could fall under ...
Hong Kong Approves Budget Tax Cuts
July 1st, 2014
Hong Kong’s Secretary for Financial Services and the Treasury Professor KC Chan has welcomed the passage of the Inland Revenue (Amendment) Bill 2014 by the Legislative Council on June 25, which gave effect to two major revenue measures proposed ...
Ex-Jefferies Trader Deserves 9-Year Sentence, U.S. Says
July 1st, 2014
Ex-Jefferies & Co. Managing Director Jesse Litvak, who was convicted earlier this year of fraud in the trading of mortgage-backed securities, should be sentenced to nine years in prison, the U.S. said. Litvak was convicted in the only criminal ...
India To Revamp Colonial Era Train Networks, Courting Foreign Investment
June 30th, 2014
India’s new Prime Minister plans to overhaul the country’s massive state-run railway system. Originally built under British colonial rule, the train system is one of the largest in the world, and serves roughly 25 million passengers every day — ...
Accountants have itchy feet despite 5% pay rise
June 30th, 2014
Salaries increased by 4.3%, to £66,795 in 2013/14, while the average bonus was 17.5% (up from 17.2%). In addition, 53% of accountants received a bonus compared to 47% a year earlier. However, only 46% were satisfied with the pay, ...
Taking Systemic Risk Seriously
June 30th, 2014
There are two leading views about the world’s financial system. The first, heard mostly from executives at leading global banks and their allies, is that the system is safer than it has ever been. According to this view, the ...
BIS warns over ‘Euphoric’ capital markets
June 30th, 2014
The Bank for International Settlements (BIS) has warned that “euphoric” financial markets have become detached from the reality of a lingering post-crisis malaise, as it called for governments to ditch policies that risk stoking unsustainable asset booms. While the ...
European Commission steps in to help Bulgarian banks
June 30th, 2014
The European Commission has approved a request from Bulgaria to provide funding for some of the country’s biggest banks. The Commission extended a credit line of 3.3bn levs ($2.3bn; £1.4bn) to help banks that Bulgarian authorities believe have been ...
Not guilty plea for Philippine senator
June 30th, 2014
A Philippine anti-graft court entered a not guilty plea Monday for the second of three prominent senators arraigned in the country’s biggest corruption trial in more than a decade. Senator Jinggoy Estrada, son of former president and now Manila ...
Sex Video Is New Twist In GSK China Bribery Scandal
June 30th, 2014
GlaxoSmithKline GSK.L on Sunday confirmed the existence of an intimate video recording of its former China head, Mark Reilly, which the Sunday Times reported kicked off a bribery investigation that has damaged the drugmaker’s business in China. The Sunday ...
