Latest tax and investment news
Paul Myners delivers speech on international finance
Financial services secretary Paul Myners has delivered a speech at Number 11 Downing Street prior to today's (January 25th) seminar on the UK's financial services industry, which may interest those involved in offshore tax planning.
Mr Myners began by reiterating the seriousness of the global economic crisis, which threatened the existence of a number of banks around the world and required the use of taxpayer's money to avert a financial meltdown.
To reduce the chances of similar events happening in future, he went on to say that ideas such as contingent capital and systemic risk levies have emerged to improve the resilience of the global financial system.
"Going forward it is important that any costs that governments incur for interventions in the financial sector are distributed more fairly," added Mr Myners.
"There is clearly a strong rationale to charge for the externality caused by the financial sector."
The UK government recently implemented changes to support Islamic finance and corporate sukuk, a class of financial instruments which complies with Islamic principles.
Posted by Susie Cho
For More Information
For more information about our services please contact us on the number provided below. Alternatively, fill out this form, indicating your area of interest, and one of our partners will contact you. If in any doubt, we offer a free, no obligation meeting to discuss your requirements.
For further information please email us at mail[at]atcsolutions.com or call:
ATC Solutions takes your privacy very seriously and any information you provide will only be used by us. We do not pass on information to any third parties unless you expressly give us permission and only then in relation to your specific enquiry.
