Blog Posts - Wealthy Individuals

Japan Targets Wealthy With Exit Tax

Japan could become the latest country to consider taxing wealthy individuals who move abroad to take advantage of lower rates.
by TaxWorldWeb on Dec 18, 2014

Ed Miliband’s plan for mansion tax draws fire from top Labour MPs

Ed Miliband is facing resistance from senior Labour MPs in London – including potential candidates to be mayor – to his flagship plan to impose a mansion tax on properties worth more than £2m, as concern grows that it will hit too many people on...
by TaxWorldWeb on Sep 27, 2014

You Are What You Read

11% of rich people read for entertainment, compared to 79% of poor 85% of rich people read two or more education, career-related, or self-improvement books per month, compared to 15% of poor 94% of rich people read news publications including newspap...
by Wealthymatters on Aug 29, 2014

Businessmen want Wealth Tax to be paid in kind; government wants cash payment

Businessmen have requested the government to collect the 5% ‘Wealth Tax’, which has been put in place for those with an income exceeding EGP 1m per annum, through an “in kind” method rather than through cash.
by TaxWorldWeb on Aug 20, 2014

Rich Habits

What you do today matters. Your daily habits are a major determinant of your wealth. According to Thomas Corley, the author of Rich Habits: The Daily Success Habits Of Wealthy Individuals.Some habits are like snowflakes -they build up, and then you h...
by Wealthymatters on Jul 2, 2014

Costly watches, paintings may invite wealth tax

If you buy a costly watch, purchase an expensive painting, acquire a rare sculpture, or inherit jewellery from your ancestors, you may soon have to mention these in your tax returns.
by TaxWorldWeb on Jun 24, 2014

Wealthy Do Not Pay Most Tax in the UK

LONDON – Individuals with low-incomes in the UK pay far more taxes than wealthy individuals, however, due to a lack of information on the subject, public perception of the situation does not match reality.
by TaxWorldWeb on Jun 16, 2014

Taxman wins fight to close property tax loophole

A High Court ruling has sided with the taxman over legislation introduced last year which aims to stop wealthy property buyers avoid paying tens of thousands of pounds in stamp duty.
by TaxWorldWeb on Jun 13, 2014

High-income earners will pay more tax until 2017

About 400,000 taxpayers earning more than $180,000 will pay an extra 2 per cent tax as the government breaks a pre-election promise not to raise taxes, with the introduction of a ”temporary budget repair levy” for three years.
by TaxWorldWeb on May 13, 2014

Mauritius at the Forefront of Tax-Friendly Countries for High-net Worth Foreigners

From “Tiger of the Indian Ocean” to “Cyber island”, Mauritius has turned now into a “Safe and Reliable Investment Hub” in terms of good governance as well as ethical, economic, political and social stability.
by TaxWorldWeb on Mar 13, 2014

The forgotten tax break for the rich that will cost Ottawa billions

The Conservative Party’s 2011 election platform titled “Stephen Harper’s Low-Tax Plan” promised a bountiful menu of tax goodies. The government has delivered appetizers such as the Children’s Art Tax Credit and the Family Caregiver Tax Cred...
by TaxWorldWeb on Mar 4, 2014

Puerto Rico Is Outlier for Wealthy Fleeing Tax Hit: Muni Credit

Financial advisers to some of the wealthiest Americans see struggling Puerto Rico as an outlier in the $3.7 trillion local-debt market, leading them to add municipal bonds as the steepest federal tax rates in more than a decade loom.
by TaxWorldWeb on Feb 25, 2014

Philanthropist dismisses ‘rich tax’

One of the country’s leading philanthropists says taxing the rich to narrow the income gap would be unfair because the country is overtaxed as it is.
by TaxWorldWeb on Feb 8, 2014

China’s Elite Wealth in Offshore Tax Havens, Leaked Files Show

China’s elite, including the brother-in-law of President Xi Jinping, have used secretive offshore companies that helped hide wealth in tax havens, including the British Virgin Islands and Samoa.
by TaxWorldWeb on Feb 7, 2014

Celebrity tax dodging prompts calls for crackdown in Germany

Revelations that prominent Germans have for years hoarded cash in secret bank accounts have prompted calls from Chancellor Angela Merkel’s Social Democrat (SPD) coalition partners for a clampdown on tax dodging.
by TaxWorldWeb on Feb 4, 2014

French ‘millionaire’s tax’ gets constitutional go-ahead

PARIS: France’s Constitutional Council gave the green light on Sunday to a ‘millionaire’s tax’, to be levied on companies that pay salaries of more than 1 million euros ($1.38 million) a year.
by TaxWorldWeb on Dec 29, 2013

Mexico to Tax Luxury Item: Pet Food

MEXICO CITY—Mexico’s pet owners are bracing for a new tax on pet food, which the government recently declared a “luxury item.”...
by TaxWorldWeb on Dec 28, 2013

Argentina seeks luxury tax as it vows to conserve dollars

Argentina’s government is sending a bill to Congress that would increase taxes on high-end cars and other imported luxury goods, Cabinet Chief Jorge Capitanich said on Friday, in the new economic team’s first apparent step to conserve dol...
by TaxWorldWeb on Nov 22, 2013

Tax adjustments not meant to benefit wealthy: finance ministry

Taipei, Oct. 15 (CNA) Adjustments to the alternative minimum tax and estate taxes will help maintain a sound and fair taxation system, the Ministry of Finance said Tuesday, dismissing a media report from a day earlier that the changes are meant to be...
by TaxWorldWeb on Oct 15, 2013

Sir Richard Branson denies that he ‘left Britain for tax reasons’

Sir Richard Branson has had to defend his tax arrangements after a spotlight was cast on the billionaire’s decision to move to his luxury island in the Caribbean.
by TaxWorldWeb on Oct 13, 2013

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