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FAQ’s SECTIONS • Who Has To File, What To Declare, When And How. • Category 1 Assets - Properties And Rights Over • Properties Owned Outside Spain. • Category 2 Assets - Bank Accounts Outside Spain. • Category 3 Assets - Investments • Other
Spain is one of a number of countries that charge tax on unrealised capital gains when their tax residents leave the country, and it has had a new law in place since January 1, 2015.
Costa Rica is currently considering reform to its income tax and Value Added Tax (VAT) legislation which could see VAT rise to 15%.
Our expert provides details of a new law effective 1 January 2016 that will require all employers to provide medical insurance to staff
The strategic location of RAK FTZ is one of the main reasons we chose to set up here. The availability of logistics and ease to ship goods to Africa and the Middle East region is another incentive that we received after registering at RAK FTZ. Also, the cost-effectiveness of setting up and operating business in RAK FTZ compared to other free zones in the country attracted us to operate here
World Market Jeopardy Overshadows Presidential Inauguration
In an ironic contrast to the biggest ever presidential celebrations, America saw its bleakest ever reading for an inauguration day, with the Dow Jones plunging by 4%.
Last Wednesday saw a drop in the world stock markets, generating fears that escalating bank loses will paralyse the global economy. The news lingered over the inauguration of Barack Obama like a slick thundercloud of realisation.
Worrying news that Western banks, such as Lloyds and Royal Bank of Scotland, are in irreparable jeopardy sent stock measures falling by over 4%. Optimism seemed delusional as Barack Obama made his inauguration speech promising to rebuild a broken United States. Investors, however, appeared more rational. They speculate that, regardless of good intentions, the new President simply wonÂ’t be able to offer a stimulus package effective enough to quickly save the American economy, let alone the rest of the world.
JapanÂ’s benchmark lost 2% in last Wednesday's remarkable drop in the market. Singapore, also, has cut its growth forecast for the year for a second time this month, stating that its economy is in danger of a 5% declination. Along with Japan and Hong Kong, Singapore is also suffering from recessional rigor mortis, with demand for exports abating.
The forecasts are especially hoary. BHP Billiton, the worldÂ’s biggest mining business based in Australia, revealed its intentions to cut 6,000 jobs (6% of employees worldwide) to align itself with current demand. Likewise, China-based insurance giant China Life speculated 2008 profits to be down 50% by that of 2007.
JapanÂ’s Nikkei 225 stock buoyancy sank 164.15 points (2%), whereas Hong KongÂ’s Seng Index suffered a 381.19 point drop (2.9%). Australia lost 1%, India 2% and Singapore 1.6%. Here in the West, however, the British FTSE was down 1.8%, the German DAX 2.2% and FranceÂ’s CAC-40 2.7%.
And finally, in an ironic contrast to the biggest ever presidential celebrations, America saw its bleakest ever reading for an inauguration day, with the Dow Jones plunging by 4%.