Luxembourg was one of the six founder members of the European
Union, or Common Market as it was known, in 1957 and with
Belgium and the Netherlands it forms part of the Benelux Economic
Union (to be known as just the ‘Benelux Union’
from 2010, to reflect the updated relationship between the
countries).
Luxembourg is a constitutional Grand Duchy (with the head
of state being Grand Duke Henri), and a parliamentary democracy.
Luxembourg is also a member of NATO and the OECD and is a
major world financial centre attracting many investors due
to its favourable tax regime. Luxembourg adopted the Euro
on 1st January, 2002.
The Luxembourg economy is stable and has traditionally enjoyed
steady growth and low rates of inflation and unemployment.
GDP per capita is the third highest in the world at USD81,200
(2008, the most recent year for which figures were available).
GDP was USD39.4 billion in the same year. GDP growth slowed
and 2008 returned negative growth of -0.9%.
Financial services now make up 28% of GDP, with industry
and agriculture accounting a steadily decreasing percentage;
previously, steel manufacturing was Luxembourg’s major
industry. Inflation ran at 3.4% (2009) and unemployment stood
at 4.7%.
French hedge funds and the securities regulator AMF believe the Alternative Investment Fund Managers Directive will - more than UCITS - boost investor confidence in hedge funds and pave the way for potentially significant asset growth. RSS
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The findings of a newly-released survey show that Guernsey continues to be seen as the leading jurisdiction for the domiciliation of alternative investment funds. RSS
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Just ahead of a planned meeting of eurozone finance ministers in Brussels, the
Greek cabinet has unanimously approved a final series of austerity measures totalling
EUR325m (USD429m) to secure the EUR130bn bailout agreement from international
lenders including the European Union and the International Monetary Fund,
vital to avoiding bankruptcy. RSS
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I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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