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Liechtenstein Disclosure Facility
The Liechtenstein Disclosure Facility (LDF) is an agreement between the governments of Liechtenstein and the United Kingdom which enables UK citizens to declare previously undisclosed assets to Her Majesty's Revenue and Customs (HMRC). The LDF, which came into force on 1 September 2009, is a subsidy designed to encourage individuals voluntarily to regularize their affairs. The scheme offers more favourable terms than other tax investigations, with participants normally receiving a fine of 10 per cent of tax due instead of 100 per cent, with tax interest and penalties only sought for the previous 10 years rather than the previous 20 years. Background Following the 2008 Liechtenstein tax affair, the Liechtenstein financial centre worked to develop a solution with the Organisation for Economic Co-operation and Development (OECD) to promote compliance within the country. The Liechtenstein task force was led by Fritz Kaiser, executive chairman at wealth management firm Kaiser Partner, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liechtenstein
Liechtenstein (), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constitutional monarchy headed by the prince of Liechtenstein. Liechtenstein is bordered by Switzerland to the west and south and Austria to the east and north. It is Europe's fourth-smallest country, with an area of just over and a population of 38,749 (). Divided into 11 municipalities, its capital is Vaduz, and its largest municipality is Schaan. It is also the smallest country to border two countries. Liechtenstein is a doubly landlocked country between Switzerland and Austria. Economically, Liechtenstein has one of the highest gross domestic products per person in the world when adjusted for purchasing power parity. The country has a strong financial sector centred in Vaduz. It was once known as a billionaire tax haven, but is no longer on any officia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Her Majesty's Revenue And Customs
, patch = , patchcaption = , logo = HM Revenue & Customs.svg , logocaption = , badge = , badgecaption = , flag = , flagcaption = , image_size = , commonname = , abbreviation = , motto = , formed = , preceding1 = Inland Revenue , preceding2 = HM Customs and Excise , dissolved = , superseding = , employees = 63,042 FTE , volunteers = , budget = (2018–2019) , country = United Kingdom , constitution1 = Commissioners for Revenue and Customs Act 2005 , speciality1 = customs , speciality2 = tax , headquarters = 100 Parliament Street, London, SW1A 2BQ , sworntype = , sworn = , unsworntype = , unsworn = , minister1name = Andrew Griffith MP , minister1pfo = Economic Secretary to the Treasury and mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Liechtenstein Tax Affair
The 2008 Liechtenstein tax affair is a series of tax investigations in numerous countries whose governments suspect that some of their citizens may have evaded tax obligations by using banks and trusts in Liechtenstein; the affair broke open with the biggest complex of investigations ever initiated for tax evasion in the Federal Republic of Germany. It is seen also as an attempt to put pressure on Liechtenstein, one of the remaining uncooperative tax havens, as identified by the Financial Action Task Force (FATF) on Money Laundering of the Paris-based Organisation for Economic Co-operation and Development, along with Andorra and Monaco, in 2007. Background Millions of euros belonging to hundreds of citizens living in Germany were channeled into the LGT Bank and other banks in Liechtenstein, taking advantage of Liechtenstein-based trusts to evade paying taxes in Germany. According to the prosecutor's office these trusts "have been created apparently only to evade paying taxe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organisation For Economic Co-operation And Development
The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organization, intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. It is a Forum (legal), forum whose member countries describe themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices, and coordinate domestic and international policies of its members. The majority of OECD members are High income economy, high-income economies with a very high Human Development Index, Human Development Index (HDI), and are regarded as Developed country, developed countries. Their collective population is 1.38 billion. , the OECD member countries collectively comprised 62.2% of List of countries by GDP (nominal), global nominal GDP (US$49.6 trill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fritz Kaiser
Fritz Kaiser (born 22 March 1955 in Mauren, Liechtenstein) is a wealth management entrepreneur, investor and philanthropist from the Principality of Liechtenstein. He is married to Birgit and has four children. He is co-founder and executive chairman of Kaiser Partner, a wealth management firm that provides family office and wealth management services to private wealth owners and their advisors. Kaiser is an advocate for responsible wealth management and is well known for his innovation in this field. Specifically, in 2011, he won the Spear’s Magazine "Wealth Management Innovator of the Year" award for the successful instigation and development of the Liechtenstein disclosure facility (LDF), a vehicle which promotes tax compliance by assisting British taxpayers in the declaration of previously untaxed assets. He also co-founded the Mentor Foundation, a leading international NGO voice of drug abuse prevention. Personal life Fritz Kaiser is married and has four children. In 197 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kaiser Partner
''Kaiser'' is the German word for " emperor" (female Kaiserin). In general, the German title in principle applies to rulers anywhere in the world above the rank of king (''König''). In English, the (untranslated) word ''Kaiser'' is mainly applied to the emperors of the unified German Empire (1871–1918) and the emperors of the Austrian Empire (1804–1918). During the First World War, anti-German sentiment was at its zenith; the term ''Kaiser''—especially as applied to Wilhelm II, German Emperor—thus gained considerable negative connotations in English-speaking countries. Especially in Central Europe, between northern Italy and southern Poland, between western Austria and western Ukraine and in Bavaria, Emperor Franz Joseph I is still associated with "Der Kaiser (the emperor)" today. As a result of his long reign from 1848 to 1916 and the associated Golden Age before the First World War, this title often has still a very high historical respect in this geographica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spear's Wealth Management Survey
''Spear's'' (formerly known as ''Spear's WMS'' or ''Spear's Wealth Management Survey''), founded in 2006 by William Cash, is a bimonthly British magazine for high-net-worth individuals and those in the financial service industries. It has been called "the Bible of the banking fraternity" by '' GQ'' and "a European rival to ''Forbes''" by ''The Evening Standard''. Its subscribers include over 30,000 of Europe’s decision-makers and wealthy. William Cash, Editor-at-large of ''Spear's'', has twice won Editor of the Year at the PPA Awards (2007 and 2008). ''Spear's'' is now published by Progressive Digital Media. The launch in 2006 included publicity from ''The Independent'', ''The Guardian'', the ''Luxist'' and ''The Times''. ''Spear's'' Indices are surveys of key people in the high net worth world.''Spear's'' Salon is ''Spear's'' blogging forum which hosts a number of regular contributors.''Spear's'' 500 are rankings of consultants and service providers in several wealth and l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Planning
Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. A tax shelter is one type of tax avoidance, and tax havens are jurisdictions that facilitate reduced taxes. Tax avoidance should not be confused with tax evasion, which is illegal. Forms of tax avoidance that use legal tax laws in ways not necessarily intended by the government are often criticized in the court of public opinion and by journalists. Many corporations and businesses that take part in the practice experience a backlash from their active customers or online. Conversely, benefiting from tax laws in ways that were intended by governments is sometimes referred to as tax planning. The World Bank's World Development Report 2019 on the future of work supports increased government efforts to curb tax avoidance as part of a new social contract focused on human capital investments and expanded social prot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accountancy Age
''Accountancy Age'' is an online trade publication for accountants and financial staff in the United Kingdom. After running from 1969 to 2011 with a circulation of over 60,000 in print, it changed with effect from May 2011 to an online-only publication. History ''Accountancy Age'' was first published on 5 December 1969, by Michael Heseltine's company Haymarket Publishing.First issue of ''Accountancy Age'' 5 Dec 1969 Haymarket later sold ''Accountancy Age'' and ''Computing'' magazine to become the mainstay journals of VNU Business Publications Ltd, which formed in 1980. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dave Hartnett
David Anthony Hartnett Order of the Bath, CB (born ) is a former British Civil Service, British civil servant who served as the Permanent Secretary for Tax at HM Revenue and Customs (HMRC) until his retirement in July 2012. Following his retirement he advised HSBC on financial crime governance alongside former Director General of the Serious Organised Crime Agency, Bill Hughes (police officer), Bill Hughes. Early life Hartnett studied Classics at the University of Birmingham, graduating in 1973. Career Hartnett joined the then Inland Revenue in 1976. As a graduate tax inspector, he spent his first 10 years in Birmingham. He advanced to the position of Director of Capital and Savings in 1998. Following the merger of the Inland Revenue and HM Customs & Excise in 2004, he became HMRC's Director General for Customer Contact and Compliance Strategy and then Director General for Business. He was one of Her Majesty's Commissioners of Revenue and Customs, the formal governing board of H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HM Revenue And Customs
HM Revenue and Customs (His Majesty's Revenue and Customs, or HMRC) is a non-ministerial government department, non-ministerial Departments of the United Kingdom Government, department of the His Majesty's Government, UK Government responsible for the tax collection, collection of Taxation in the United Kingdom, taxes, the payment of some forms of Welfare state in the United Kingdom, state support, the administration of other regulatory Regime#Politics, regimes including the national minimum wage and the issuance of national insurance numbers. HMRC was formed by the merger of the Inland Revenue and HM Customs and Excise, which took effect on 18 April 2005. The department's logo is the St Edward's Crown enclosed within a circle. Prior to the Elizabeth II, Queen's death on 8 September 2022, the department was known as ''Her'' Majesty's Revenue and Customs and has since been amended to reflect the change of monarch. Departmental responsibilities The department is responsible for the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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