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Eu Savings Directive
The European Union withholding tax is the common name for a withholding tax which is deducted from interest earned by European Union residents on their investments made in another member state, by the state in which the investment is held. The European Union itself has only limited taxation powers, so the name may be considered a misnomer. The aim of the tax is to ensure that citizens of one member state do not evade taxation by depositing funds outside the jurisdiction of residence and so distort the single market. The tax is withheld at source and passed on to the EU Country of residence. All but three member states disclose the recipient of the interest concerned. Most EU states already apply a withholding tax to savings and investment income earned by their nationals on deposits and investments in their own states. The Directive seeks to bring inter-state income into the same arrangement, under the Single Market policy. Creation The tax was introduced at the time of the i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Withholding Tax
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income. Many jurisdictions also require withholding taxes on payments of interest or dividends. In most jurisdictions, there are additional tax withholding obligations if the recipient of the income is resident in a different jurisdiction, and in those circumstances withholding tax sometimes applies to royalties, renting, rent or even the sale of real estate. Governments use tax withholding as a means to combat tax evasion, and sometimes impose additional tax withholding requirements if the recipient has been delinquent in filing tax returns, or in industries where tax evasion is perceived to be common. Typically, the withheld tax is treated as a pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bare Trust
In trust law, a bare trust is a trust in which the beneficiary has a right to both income and capital and may call for both to be remitted into their own name. In England and Wales Assets in a bare trust are held in the name of a trustee, but the beneficiary has the right to all of the capital and income of the trust at any time if they are 18 or over (in England and Wales), or 16 or over (in Scotland Scotland is a Countries of the United Kingdom, country that is part of the United Kingdom. It contains nearly one-third of the United Kingdom's land area, consisting of the northern part of the island of Great Britain and more than 790 adjac ...). Bare trusts are often used to pass assets to young people - the trustees look after them until the beneficiary is old enough. In Australia Recent amendments to the ''Superannuation Industry (Supervision) Act 1993'' allow superannuation funds to invest in any kind of asset and to borrow, charging those assets so long as there is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turks And Caicos Islands
The Turks and Caicos Islands (abbreviated TCI; and ) are a British Overseas Territory consisting of the larger Caicos Islands and smaller Turks Islands, two groups of tropical islands in the Lucayan Archipelago of the Atlantic Ocean and northern West Indies. They are known primarily for tourism and as an offshore financial centre. The resident population in 2023 was estimated by ''The World Factbook'' at 59,367, making it the third-largest of the British overseas territories by population. However, according to a Department of Statistics estimate in 2022, the population was 47,720. The islands are southeast of Mayaguana in the Bahamas island chain and north of the island of Hispaniola (Haiti and the Dominican Republic). Cockburn Town, the capital since 1766, is situated on Grand Turk about east-southeast of Miami. They have a total land area of . The islands were inhabited for centuries by Taíno people. The first recorded European sighting of them was in 1512. In sub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Netherlands Antilles
The Netherlands Antilles (, ; ), also known as the Dutch Antilles, was a constituent Caribbean country of the Kingdom of the Netherlands consisting of the islands of Saba (island), Saba, Sint Eustatius, and Sint Maarten in the Lesser Antilles, and Aruba, Curaçao, and Bonaire in the Leeward Antilles. The country came into being in 1954 as the autonomous successor of the Dutch colony of Curaçao and Dependencies, and Dissolution of the Netherlands Antilles, it was dissolved in 2010, when like Aruba in 1986, Sint Maarten and Curaçao gained status of Constituent countries of the Kingdom of the Netherlands, constituent countries within the Kingdom of the Netherlands, and Saba, Sint Eustatius, and Bonaire gained status of Constituent countries of the Kingdom of the Netherlands, special municipality of the Netherlands as the Caribbean Netherlands. The neighboring Dutch colony of Surinam (Dutch colony), Surinam in continental South America, did not become part of the Netherlands Antill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Channel Islands
The Channel Islands are an archipelago in the English Channel, off the French coast of Normandy. They are divided into two Crown Dependencies: the Jersey, Bailiwick of Jersey, which is the largest of the islands; and the Bailiwick of Guernsey, consisting of Guernsey, Alderney, Sark, Herm and some smaller islands. Historically, they are the remnants of the Duchy of Normandy. Although they are not part of the United Kingdom, the UK is responsible for the defence and international relations of the islands as it is for the other Crown Dependency, the Isle of Man, and the British Overseas Territories. The Crown Dependencies are neither members of the Commonwealth of Nations, nor part of the European Union. They have a total population of about , and the bailiwicks' Capital city, capitals, Saint Helier and Saint Peter Port, have populations of 33,500 and 18,207 respectively. "Channel Islands" is a geographical term, not a political unit. The two bailiwicks have been administered sepa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Virgin Islands
The British Virgin Islands (BVI), officially the Virgin Islands, are a British Overseas Territories, British Overseas Territory in the Caribbean, to the east of Puerto Rico and the United States Virgin Islands, US Virgin Islands and north-west of Anguilla. The islands are geographically part of the Virgin Islands, Virgin Islands archipelago and are located in the Leeward Islands of the Lesser Antilles and part of the West Indies. The British Virgin Islands consist of the main islands of Tortola, Virgin Gorda, Anegada and Jost Van Dyke, along with more than 50 other smaller islands and cays. About 16 of the islands are inhabited. The capital, Road Town, is on Tortola, the largest island, which is about long and wide. The islands had a population of 28,054 at the 2010 Census, of whom 23,491 lived on Tortola; current estimates put the population at 35,802 (July 2018). The economy of the territory is overwhelmingly dominated by tourism and financial services. In terms of financi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aruba
Aruba, officially the Country of Aruba, is a constituent island country within the Kingdom of the Netherlands, in the southern Caribbean Sea north of the Venezuelan peninsula of Paraguaná Peninsula, Paraguaná and northwest of Curaçao. In 1986, Aruba became a constituent country within the Kingdom of the Netherlands and acquired the formal name the Country of Aruba. Aruba has an area of . Aruba measures in length from its northwestern to its southeastern end and is across at its widest point. Aruba is geologically located in South America, South-America, lying on the South-American continental shelf. Alongside Bonaire and Curaçao, Aruba forms a group referred to as the ABC islands (Leeward Antilles), ABC islands. The Dutch Caribbean encompasses the ABC islands along with the other three substantial islands, the SSS islands. In contrast to much of the Caribbean, which experiences humid tropical climates, Aruba has a dry climate with an arid Deserts and xeric shrublands, xer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
