Pearse Trust Blog

The US FATC Act

The US Foreign Account Tax Compliance Act (FATCA), due to come into force in 2013, will in its current form require overseas financial institutions to report American clients with accounts of more than USD$50,000 to the Internal Revenue Service.

Seychelles International Trusts are popular due to several attractive features which they offer.

What Is A Discretionary Trust?

A Discretionary Trust (DT) is a Trust set up by a settlor who, in lieu of appointing trust property directly to beneficiaries, gives the trust property instead to trustees, with the power to appoint the property out of the trust fund amongst a particular class of persons as they see fit.

According to the Northern Ireland Affairs Committee report published on 24^th May 2011, the MPs consider that there is a ‘convincing case’ for the UK introducing a lower rate of corporation tax in Northern Ireland. The committee considers that a reduction in Northern Ireland's corporate tax rate could be the dramatic change needed to kick start private sector growth in Northern Ireland.

New legislation aimed at making the incorporation of an Irish company easier and cheaper has now been published online.

There have been a number of significant recent tax case decisions at European and UK level concerning the tax residence of companies. 

The Greek bailout is not working and the country is consistently missing its targets.

In Switzerland a lump-sum tax currently available to rich foreigners is coming under heavy fire from citizens deeming the tax to be unfair.

The European Commission (EC) has formally requested that the UK amend its legislation on the tax treatment of Controlled Foreign Companies (CFCs) to better take into account rulings by the European Court of Justice (ECJ).