Anthony Thompson looks at the increasing difficult area of payment of foreign
taxes by trustees (taken from Issue No 21 – October 2002
Introduction
Trustees, whether in the UK or in one of the offshore financial centres, are having to become increasingly sophisticated in the way they deal with foreign taxes. Settlors and beneficiaries are much more internationally mobile than in the past; tax anti-avoidance legislation is becoming ever more wide reaching; anti-money laundering legislation now covers foreign taxes; and in the UK, we have s.134and Schedule 39Finance Act 2002, which give direct tax enforcement powers in the UK to EC member states. So where does this leave trustees?
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The Trust Quarterly Review is published in partnership with STEP, it discusses matters of interest to trustees and executors with a focus on the particular interests of trust corporations in mind
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