Extending the deadline to disclose assets held in Liechtenstein is an “important development” for British ultra-high net worth families, but it will be “dangerous to wait” to come clean about tax arrears.
Extending the deadline to disclose assets held in Liechtenstein is an “important development” for British ultra-high net worth families, but it will be “dangerous to wait” to come clean about tax arrears.
The amount of wealth held by high net worth individuals in India has increased faster than that held by rich people globally. That is according to the India Wealth Report, released by Indian wealth management firm Karvy Private Wealth.
Banks in Switzerland could lose as much as CHF50 billion (€40.7 billion) in assets under management as a result of a tax crackdown by the UK and Germany, says a new study.
Banks in Switzerland could lose as much as CHF50 billion (€40.7 billion) in assets under management as a result of a tax crackdown by the UK and Germany, says a new study. According to management consulting firm Booz & Co, wealth managers in Switzerland will also lose CHF1.1 billion in revenues, as clients with the two European countries withdraw their money before the tax treaties come into effect in 2013.
Wall Street protests have triggered copy-cat street protests in financial capitals globally. We live in an increasingly volatile world where a single spark could trigger financial and banking turmoil and enrage street protestors.
Wall Street protests have triggered copy-cat street protests in financial capitals globally. Governments are scrambling to contain the upheaval and stay ahead of markets, with tax increases and more regulation, together with attacks on offshore bank accounts and tax increases on European property assets on the rise.
Private banks around the world are struggling to attract the money of the wealthy despite the fact that many of them are getting wealthier. According to new research by global business consultant Scorpio Partnership, new money into private banks fell by nearly 19% in 2010, despite a rise in the number of wealthy individuals.
Can you be good and still make a lot of money? In the year 2000 the $239 billion California Public Employees’ Retirement System (CalPERS), the biggest pension fund in the US, dumped its investments in China, Colombia and the Philippines because of their poor democratic records, as well as pulling money out of the tobacco industry.
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