Life in a low cost location
Article Abstract:
Malta has induced foreign investments through government efforts offering incentives for the relocation of businesses to the area, its attraction as an offshore tax haven, and its ideal geographic positioning which makes it an effective low cost distribution center. Economic indicators show that the country is well on its way to economic prosperity. Serious efforts have been made by its Nacionalista government to further investment in Malta's basic infrastructure - such as public utilities, telecommunications, airports, hotels, and public transport. Financial structures are in place, with a stock exchange set to begin operations at the onset of 1992 and its offshore centers housing trading- as well as non-trading companies. Malta's bid to become a member of the European Community is hampered, however, by conflicts arising from the establishment of this offshore center.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
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A second home in the Spanish sun
Article Abstract:
Foreigners purchasing a house in Spain are required to obtain a foreigner's identification number and register their properties with the Ministry of Tourism. Documents required for a purchase include a private purchase contract between buyer and vendor and a conveyance deed. Foreigners should use a reputable independent Spanish lawyer to guide them through the intricacies of real estate law. Buyers must be aware of the incidental costs of real estate purchases, including: a value added tax on new buildings and a transfer tax and a stamp duty on older property; the notary's and the property registrar's fees; and municipal service charges. Foreign owners of real estate are required to make annual Spanish wealth tax returns and are legally obligated to appoint a Spanish resident as a representative to the tax authorities.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
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I'm in haven
Article Abstract:
Offshore tax havens have grown more popular in recent years. The selection of offshore financial centers should be based on a number of considerations, including the jurisdiction's treaties with high-tax jurisdictions, as well as tax anti-avoidance provisions and 'treaty-shopping' provisions. Other issues to take into account are the offshore jurisdiction's location in case personal visits are required, its time zones, familiarity of its currency, the quality of its telecommunications and professional services, and its political stability. In addition to these factors, it is important to evaluate how the offshore financial center fits in with the taxpayer's location of business. Four new tax havens are evaluated, namely, Aruba, Vanuatu, Nevis and Costa Rica.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1998
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