In brief, issue 4312

Peter Jennings

Taxation is sad to report the death of Peter Jennings a leading member of the National Working Together Steering Group. He will be missed.

EU exchange

From 1 July 2011 the Isle of Man moves fully to automatic exchange of information with EU member states under the EU Savings Directive making it one of the first non-EU countries to do so. Countries applying this directive collaborate to counter cross-border tax evasion by collecting and exchanging information about bank interest earned by people outside their state
of residence.

Bank levy

HMRC invite comments on draft regulations for double taxation relief for groups and entities within the charge to the bank levy and the French bank levy and where France is the home state of the entity or group.

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