The premier questioned why workers with multiple jobs must pay tax, while property owners, who collect income from several properties, do not.
The list includes non-EU countries and territories that do not comply with certain “tax good governance standards” relating to transparency, fair taxation and implementation of the minimum standards agreed at OECD level as part of the Base Ero
This, he said, could include a vehicle taxation system of £100 a year, which he said could generate as much as £15 million for the government to put into other environmental initiatives.
The OTS’s report has flagged that the effective rate for very large estates (i.e. estates over £7m) is, in fact, in the region of 10% once all relevant reliefs and exemptions are properly applied.
As for the connecting factors based on where to charge IHT, most European countries use either the situs of the assets or the residence of the donor (and more rarely the residence of the donee) as the connecting factor to charge succession or donation tax
The Guidance clarifies that the TIA will regard mutual and private funds registered with or licensed by the Cayman Islands Monetary Authority (CIMA), pursuant to the Mutual Funds Act (2020 Revision) or the Private Funds Act, 2020 respectively, as "in