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Tax and Jurisdictions

March 5, 2010

In January 2010, the OECD released a progress report on tax transparency. It reported that all the jurisdictions surveyed have now committed to the internationally agreed tax standard. Those that have already implemented it in full are on the white list, while those on the grey list have yet to do so

In January 2010, the OECD released a progress report on tax transparency. It reported that all the jurisdictions surveyed have now committed to the internationally agreed tax standard. Those that have already implemented it in full are on the white list, while those on the grey list have yet to do so.

Africa

White list:

March 1, 2010

Thailand’s former prime minister, Thaksin Shinawatra, had more than half of his assets seized by the supreme court on Friday after nine justices agreed he had deliberately hidden his wealth and concealed his shareholdings in the family business.

Thailand's former prime minister, Thaksin Shinawatra (pictured), had more than half of his assets seized by the supreme court on Friday after nine justices agreed he had deliberately hidden his wealth and concealed his shareholdings in the family business.
 

February 24, 2010

David Simon doesn’t mince his words. When rival company General Growth Properties rebuffed his $10 billion offer to buy the business out of Chapter 11 bankruptcy proceedings, Simon penned a sharply worded letter to Adam Metz, his counterpart as chief executive, writes Darrell Delamaide

David Simon doesn't mince his words. When rival company General Growth Properties rebuffed his $10 billion offer to buy the business out of Chapter 11 bankruptcy proceedings, Simon penned a sharply worded letter to Adam Metz, his counterpart as chief executive, writes Darrell Delamaide.

January 8, 2010

The new year provides the perfect occasion for family businesses around the world to assess their 2009 performance, attempt to learn the lessons of the recession and work out how best to seize the opportunities 2010 presents. It is also the time for www.campdenFB.com to review the outgoing year and look forward to the possibilities of 2010, writes Katie Barker

The new year provides the perfect occasion for family businesses around the world to assess their 2009 performance, attempt to learn the lessons of the recession and work out how best to seize the opportunities 2010 presents. It is also the time for www.campdenFB.com to review the outgoing year and look forward to the possibilities of 2010, writes Katie Barker

October 26, 2009

Family offices have been hit hard by the collapse of once reputable institutions and the exposure of fraudulent financial schemes. The question now is how to mitigate risk in the future and invest again with confidence?

The impact of the collapse of Lehman Brothers and similar financial institutions on family offices last year was profound. In particular, family offices are reviewing the standards of regulation in jurisdictions where they hold assets. If there are perceived weaknesses in supervision, they are moving their holdings to other, more scrupulous centres.

September 17, 2009

The aftermath of the financial crisis has seen many people talk about the world changing forever, but few have come up with any credible, long-term solutions that are ready for implementation.

The aftermath of the financial crisis has seen many people talk about the world changing forever, but few have come up with any credible, long-term solutions that are ready for implementation, writes Marc Smith.

As policymakers and regulators grapple with how best to curb excessive risk taking, improve warning systems and generally clean up a bloated, rotten system, families of substantial wealth have been coming to terms with losing significant sums of money.

September 17, 2009

In the US, if you are a wealthy individual, you would not walk across the road without taking your lawyer, tax advisor, accountant and therapist with you. The wealthy Asian individual, however, will walk across the road on his/her own.

In the US, if you are a wealthy individual, you would not walk across the road without taking your lawyer, tax advisor, accountant and therapist with you. The wealthy Asian individual, however, will walk across the road on his/her own writes Christian Stewart.

Asia has a different culture in terms of the use of external professional advisors, and this has some impact on the succession process. For example, most Asian families do not have a family shareholders agreement or "exit plan".    

August 14, 2009

Italian tax authorities are investigating the Agnelli family, owners of the car manufacturers Fiat, after allegations were made that Gianni Agnelli, the late Fiat chairman, hid €1 billion of undeclared assets in Swiss bank accounts.

Italian tax authorities are investigating the Agnelli family, owners of the car manufacturers Fiat, after allegations were made that Gianni Agnelli, the late Fiat chairman, hid €1 billion of undeclared assets in Swiss bank accounts.

August 4, 2009

Creative thinking and greater efficiency can counter some of the challenges facing family offices during the crisis according to a leading family office lawyer.

Creative thinking and greater efficiency can counter some of the challenges facing family offices during the crisis according to a leading family office lawyer.

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