Search Results for: Luxembourg
BOC to sell high-yield bond fund in Europe
September 24th, 2014
One of China’s state-owned banks has struck a deal with Citigroup to market its first fund to pension funds and retail investors in Europe. Bank of China Hong Kong Asset Management, which is owned by Bank of China, has ...
Experts warn over VAT digital services rules
September 19th, 2014
Businesses who make and sell apps or provide digital services to consumers in the European Union will see their paperwork increase in January due to new legislation to counter tax avoidance, experts have warned. Currently VAT on digital services ...
European Court decides to cut rate VAT on digital books
September 19th, 2014
The European Court of Justice has agreed that a reduced rate of value-added tax may be applied to books that are provided in digital form. The case concerned a publishing company that sought a preliminary ruling from the Finnish ...
Canada seeks to become Renminbi (RMB) trading centre for the Americas
September 2nd, 2014
The Toronto Financial Services Alliance (TFSA) and AdvantageBC has announced they would work together, with officials from the federal, Ontario and BC governments, and the financial industry, to promote Canada as a trading hub for the Chinese currency, the ...
CSSF warns against unauthorised firm
August 29th, 2014
The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named World Trade Consortium which claims to be established at 25, rue Alcide de Gasperi, L-1745 Luxembourg (website: www.world-trade-consortium.com). The CSSF informs ...
The billion-dollar fall of the house of Espirito Santo
August 29th, 2014
On June 9, with his 150-year-old Portuguese corporate dynasty close to collapse, patriarch Ricardo Espirito Santo Salgado made a desperate attempt to save it. Salgado signed two letters to Venezuela’s state oil company, which had bought $365 million in ...
Banco Espírito Santo reports a loss of €3.6 Billion
July 31st, 2014
Banco Espírito Santo on Wednesday reported a first-half loss of €3.58 billion (or $4.8 billion), the largest ever for a Portuguese institution, wiping out the bank’s €2.1 billion capital cushion and forcing it to raise new funding. The loss ...
EU court to decide on tax-free trading of bitcoin
July 30th, 2014
Tax-free trading of bitcoin is on legal questioning at the European Union’s top court following Swedish authorities request to extend existing levies to virtual currencies. The EU Court of Justice must decide if transactions between virtual and traditional currencies ...
Julius Baer expects to settle U.S. tax case in months
July 21st, 2014
Julius Baer (BAER.VX) expects to strike a deal with U.S. authorities in a matter of months to settle a criminal investigation into the Swiss bank’s role in helping wealthy Americans evade their taxes, its chief executive said on Monday. ...
The Commission de Surveillance du Secteur Financier (CSSF) warns the public
July 21st, 2014
Today, the Commission de Surveillance du Secteur Financier (CSSF) issued a warning of the activities of the entities named Royal de Bank (website:www.royaldebank.com) and Futurmarket (website:www.futurmarket.com) which claim to be established at 29, rue des Bains, L-1212 Luxembourg. The CSSF informs the ...
