#zero 10

[visionnairetv]

Fly through digital art at Zero 10 in Basel

A bird’s-eye view of Zero 10 as it lands at Art Basel in Basel, exploring the evolving landscape of digital-era art through the vision of co-curators Trevor Paglen and Eli Scheinman

[themarketcouncil]

Revolutionizing Fashion Tech: The Rise of Virtual Try-On Mirrors

In the fast-evolving world of fashion technology, one innovation stands out for its ability to transform the shopping experience: virtual try-on mirrors. These high-tech tools allow customers to see how clothes look on them without actually trying them on. But how do they work? Let’s break it down in simple terms. The Basics of Virtual Try-On Mirrors Virtual try-on mirrors combine several…

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[sovereigngroup-blog]

EU group considers "zero 10" tax regimes

The EU Code of Conduct Group met in Brussels, on 19 November 2010, to give further consideration to the so-called “Zero 10” tax regimes currently operating in the British Crown Dependencies of Jersey, Guernsey and Isle of Man.

The group considered a paper prepared by commission officials that was concerned solely with whether the deemed distribution provision and the combined effect of taxation at company and shareholder levels came within the scope of the code as business taxation.

The commission's view is that measures to ensure that in certain circumstances resident individuals pay tax on their company profits come within the definition of business taxation rather than personal taxation, are discriminatory and therefore in conflict with the code.

Jersey and the Isle of Man maintain that these anti-avoidance measures are personal taxation and not within the scope of the code.

It is understood that the Code Group is proposing a review by a High Level Tax Group, which will determine what the code means by business taxation and whether this definition goes beyond corporate tax to include shareholder taxation.

Guernsey has already announced its zero 10 strategy is to be scrapped, possibly in favour of a 10% corporation tax. Its policy council said it had received confirmation that the code group had ‘agreed with unanimity’ that the zero 10 corporate tax regimes have harmful effects. The expectation was now that the Crown Dependencies would be required to introduce revised corporate tax regimes, its statement added.

To find out more information on tax regimes and requirements, contact The Sovereign Group.