2012 Individual Tax Highlights – “Tax Avoidance and Wealth Tax Remain Hot Topics”

| 19 Dec 2012 | 0 Comments

2012 has been a year of overcoming the severe damages created by the Great Recession. Despite declarations that the economic crisis is over, the aftershocks of the collapse are still being felt across the eurozone, forcing governments to introduce various tax reforms in a bid to stabilize their economies. The fluctuating effects of these income tax rates is being experienced in EU member states as many strive to negate chances of a nosedive into default.

Here are the 6 top stories we covered this year:

UK TaxUK Tax Avoidance Schemes Unfairly Scrutinized

British comedian Jimmy Carr was the subject of public scrutiny as his participation in an offshore tax scheme underwent investigation. Tax avoidance, together with the British government’s spending of taxpayers’ money, became hot topics of controversy this year.

UK AusterityUK Austerity Targets Families with Children

2012 has left families of all sizes and income brackets to reconsider their saving plans due to the pending income tax reforms and rising cost of living expected next year. Individual Savings Accounts (ISAs) are being promoted as the top of families’ priorities for 2013.

Private YachtTop 5 Locations to Register a Private Yacht

Whether your priority is flexible registration conditions or low costs, it is imperative to determine the best location to register your yacht. From the high levels of privacy that Panama offers, to the political and financial stability of the Seychelles, find out which flag state registration benefits you the most…

Personal TaxPractical Ways to Achieve Affluence by Minimizing Your Personal Tax

As European countries struggle to stabilize their collapsing economies, many have introduced income tax hikes that target the wealthy – including France, the UK and Spain. In light of this, it is imperative to know how to minimize your tax bill in 2013 through the set up of offshore companies and trusts.

SupportsUS Supports Entrepreneurship in a bid to Instigate Economic Growth

Across the Atlantic, the US has recognized the need for immediate job creation by introducing the American JOBS Act. This reform not only seeks to reduce the extensive unemployment rates, but it also encourages young professionals to startup their own businesses.

Tax LoopholesIncome Tax Loopholes: A Fundamental Technique for Wealthy Americans to Survive Through Recession

While the US federal government strives to promote economic growth, another aspect of the US tax system has been brought to light – tax loopholes. As affluent citizens secure their wealth in offshore locations away from the hands of Uncle Sam, the level of income tax rates in the US remains uncertain.

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Category: Individual Taxation

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