Tax and Jurisdictions
Family offices should already be taking steps to prepare for the introduction of the new US Foreign Account Tax Compliance Act, a leading tax lawyer has warned.
A new study by consulting firm Booz & Co says that wealth managers in Switzerland could lose as much as €41 billion as a result of tax crackdowns by the UK and German governments.
Following last week’s arrest of rogue trader Kweku Adoboli, Swiss bank UBS has probably had as much fun in investment banking as its wealthy clients can stand.
The US government needs to avoid overstepping the limitations of the tax treaty signed with Swiss authorities or risk causing disturbances to the financial markets, according to a top investment expert.
Most ultra-high net worth individuals and members of family businesses and offices are unlikely to be affected by the new tax agreement between the UK and Switzerland, which aims to tackle offshore tax evasion, despite reports to the contrary, according to a top London lawyer.
Switzerland may have renewed its reputation as a safe haven for investors in the last few years, but rich Asians are increasingly keeping their money in local financial institutions as the Alpine nation’s appeal as an offshore centre diminishes for these investors.
Editor's Pick