Offshore firms own 40.000 properties in London

A research conducted by the British newspaper The Guardian demonstrates that the offshore ownership of properties in London has increased with 9% over the last 10 months. At present, companies registered in tax havens, such as Panama, Liechtenstein, Cayman Islands, and the British Virgin Islands, own around 40.000 commercial and residential buildings in Greater London. The [...]

Will UK Tax Your Castle?

The UK considers introducing a mansion tax which will target the properties that are worth more than £2 million. The owners of such properties will be obliged to pay an annual progressive tax starting from 1% of the property value. The mansion tax regime was proposed by two UK political parties, namely, the Labor Party and [...]

Hillary Clinton Proposes Extra Tax for Wealthy Americans

The US democratic presidential candidate Hillary Clinton proposed a 4% tax surcharge for rich Americans whose annual income is $5 million or higher. Such “Fair Share” surcharge would be applied in addition to any other income tax paid by high-net-worth individuals. Currently, the U.S.top income tax rate is 39,6% for married couples that earn more than [...]