This work covers the new Netherlands Antillean legislation on money laundering and makes suggestions for improvement. It provides an overview of money that has been obtained from criminal activities and either is used for illegal purposes and/or is used for the infiltration of the legal underworld by making (seemingly legal) investments (also called dirty money). This work also covers the International Agreements, and the legal situation in the USA, and includes some remarks on bank secrecy and other secrecy obligations. This book will serve as a reference manual for staff of financial institutions, government personnel, accountants and legal practitioners, who in their work may be confronted with aspects of money-laundering.

This book explores the profound transformation that has taken place in European insurance legislation since January 2016. Expert contributions discuss the changes that have taken place in the supervision of insurance and reinsurance undertakings through an economic risk-based approach. They outline the European insurance market before going on to show how Solvency II and Insurance Distribution Directive (IDD) are expected to generate significant benefits and have a positive impact on all parties involved in the insurance industry, the supervisory authorities and the insured. They also show how Solvency II is likely to benefit the economy as a whole, promoting more efficient allocation of capital and risk in a financial stability framework. This volume will be of interest to academics and researchers in the field of insurance regulation.

Provides an overview of state and local taxation, the current and future outlook across the nation, the role of taxes in economic development, and tax administration. Analyzes and compares all types of state and local taxes-income (individual and corporate) sales (retail and wholesale taxes on food, medicine, gas, and electricity), excise and consumption (on motor fuel, tobacco, and alcoholic beverages and on food, lodging, amusements, parimutuels, and lotteries), property (on different types of property), and severance taxes (on timber and minerals). Examines the philosophy behind the different taxes, recent trends, and current and future policy options. Appendices describing policy analysis and evaluation and listing key sources of information about state and local taxes, many statistical exhibits, and selective bibliography further enhance this reference for undergraduate and graduate students, the general public, and for public administrators, economists, and political scientists.

This book undertakes unique case studies, including interviews with participants, as well as empirical analysis, of public and private enforcement of Australian securities laws addressing continuous disclosure. Enforcement of laws is crucial to effective regulation. Historically, enforcement was the province of a government regulator with significant discretion (public enforcement). However, more and more citizens are being expected to take action themselves (private enforcement). Consistent with regulatory pluralism, public and private enforcement exist in parallel, with the capacity to both help and hinder each other, and the achievement of the goals of enforcement in a range of areas of regulation. The rise of the shareholder class action in Australia, backed by litigation funding or lawyers, has given rise to enforcement overlapping with that of the government regulator, the Australian Securities and Investments Commission. The ramifications of overlapping enforcement are explained based on detailed analysis. The analysis is further bolstered by the regulator's approach to enforcement changing from a compliance orientation to a "Why not litigate?" approach. The analysis and ramifications of the Australian case studies involve matters of regulatory theory and practice that apply across jurisdictions. The book will appeal to practitioners, regulators and academics interested in regulatory policy and enforcement, and the operation of regulators and class actions, including their interaction.

"Tax Planning for Expatriates in China" provides comprehensive, easy-to-follow and practical information on tax planning for expatriates in China. Rules and pertinent issues for general tax planning, taxable income, the basis of tax liability, application of tax treaties and methods to eliminate double taxation for expatriates to China are closely examined, with useful summary tables and sample forms included for easy reference. Recommendations and calculations of tax-efficient expatriate compensation packages in compliance with China individual income tax regulations are also provided, supplemented with illustrative examples. Written by experts, "Tax Planning for Expatriates in China" is an indispensable guide for human resource professionals of multinational companies and foreign investment enterprises and individuals assigned to work in China. This title forms part of the "Asia Business Law Series". "The Asia Business Law Series" is published in cooperation with CCH Asia and provides updated and reliable practical guidelines, legislation and case law, in order to help practitioners, policy makers and scholars understand how business is conducted in the rapidly growing Asian market.

Although efforts to regulate securities at a supranational European level date back to the first company law directive in 1968, it is only since the promulgation of the 1999 Financial Services Action Plan that the playing field has shown any real leveling for market participants. Now, since the adoption in June 2001 of the European Securities Committee as a rule-making authority implementing financial services directives, European securities regulation has emerged as a new and discrete field of legal scholarship. This authoritative book, by a well-known scholar who has been following the European frontier of securities regulation for over a decade, is the first to systematically map this dramatically accelerating new discipline and open the field to research, development, and specialization. Approaching the subject along six major avenues--the value of substantive rules; regulatory harmonization; the underlying regulatory methodologies of enacted and proposed European directives; the common market prospectus for securities offerings; investment services; and insider trading--Professor Warren never loses sight of the historical context within which European securities regulation has developed, nor of the global economic environment in which it must meet exacting standards of efficiency and transparency. His analysis clearly explains the securities implications of the European laws already adopted as a result of the European Commission's implementation of the Financial Services Action Plan (including the European Company Statute), and also points out the areas that still demand legislative and regulatory attention (including the essential development of an efficient centralized orcross-linked clearance and settlement system).

This title deals with the three important branches of the law relating to security. Within a small compass it analyses in critical detail the governing rules. In particular, it is a practical guide to current practice.

This title focuses on liability for damage to those natural resources that are of interest to the public and are protected by national, European or international law. It provides an overview of the law of the United States and of certain EU member states on the recovery of damages for injury to natural resources. The international civil liability conventions that cover environmental harm and the recently published European Commission's White Paper on environmental liability are also discussed. The on-going development in various international forums of treaties or protocols dealing with liability for environmental damage are analyzed, as are the principles developed by the UNEP Working Group established in response to the 1990 Gulf War to advise the UNCC on claims for damage to natural resources.;The book addresses assessment and valuation issues, the issue of standing in cases of injury to (un)owned natural resources, and the determination of ways to repair, restore and compensate for natural resource injuries and the associated loss of ecological and human services. It also explains why such a difference exists between the US and most European jurisdictions and inter-national liability conventions as to the recovery of damages for injury to natural resources.

This extraordinary book, the first thorough analysis of the current state of commercial mediation practice in Europe, is based on face-to-face interviews and responses to questionnaires involving the participation of 25 renowned European mediators, with complementary contributions by 20 business people who have used mediation extensively. Among the areas of interest that arise are the following: typical areas of application of commercial mediation; types of disputes where commercial mediation is most beneficial; reasons why companies opt for mediation; dispute stages at which mediation may be most useful; length of the mediation process; costs of the process; likely causes of the considerable guardedness of enterprises against mediation; the role lawyers play as gatekeepers; the power factor and other imbalances; the role of provider agencies; and various approaches to mediation style. Participants have been chosen from Austria, Germany, France, England, Scotland, Denmark, Norway, Sweden and Finland, with the aim of including all the dominant European legal traditions. There are numerous case studies, including the role of mediation in such major projects as the Vienna Airport, the Eurotunnel, and the A resund link bridge. The book contributes to the further professionalism of ADR in Europe by providing accurate information on the functionality of the process and its attainable results. In addition to describing the professional performance of European mediators working in the world of business, the author's analysis crystallizes the processes, models, and strategies that characterize the practice of commercial mediation in Europe. With this book potential clients, practicing mediators, lawmakers, and other decisionmakers can base their actions on reliable scientific findings proven by practical experience.

Providing a clear introduction to securities laws and how they are applied in different countries, this book compares the enaction and enforcement of securities laws in Kuwait, the UK and the USA. It explores the philosophy behind securities laws and methods of application in Kuwait, the US and UK to consider the benefits and the risks associated with trading in securities. Using case studies from each jurisdiction, the book takes a comparative approach to examining the different laws that have been enacted with a view to addressing problems that have developed on stock exchanges and in corporate governance. It details the different regulatory authorities in the different countries and the rules and laws that are used to ensure that markets continue to trade and that investors are protected, highlighting the differences in common law, civil law and Middle Eastern law approaches to securities and the bearing of these in the modern securities trade. Contributing to the general discipline of securities law and providing valuable insights into Middle Eastern law, the US and UK, this book will be of interest to students of international law, scholars, policy makers and government officials.

This book provides a concise, practical guide to the European Union's Anti-Tax Avoidance Directive (ATAD). Presenting unique insights into the ATAD's five specific anti-avoidance rules, its chapters explain the background of those rules, the directive's interactions with relevant jurisprudence, and the challenges posed to the ATAD's interpretation and implementation in domestic law. Key features include: critical, article-by-article analysis of the ATAD contextual information on the legislative environment in which the ATAD operates, embedding it in the wider landscape of CJEU jurisprudence insights into the day-to-day application of the ATAD rules in practice contributions from leading academics and practitioners in the field of tax law examples of the challenges to the interpretation and implementation of ATAD, taken from a range of EU Member States. European and international tax advisors, along with policy makers in the field of tax law, will find this book to be a comprehensive yet accessible guide to the ATAD and its correct application. Those who carry out research in European tax law can also benefit from this book's critical approach to the ATAD and the questions that surround anti-tax avoidance legislation in the European Union. Contributors include: D. Gutmann, W. Haslehner, R. Ismer, B. Kuzniacki, K. Pantazatou, L. Parada, I. Richelle, A. Rust, P. Schwarz, K. Spies, B. van Raaij, F. Vanistendael

Commercial Law The International Academy of Estate and Trust Laws (IAETL) meets each May to spend a week of intensive engagement with issues of direct and immediate concern to estate and trusts lawyers. More than merely an assembly of commentators and interpreters, the IAETL is a prestigious body that affects real change in courts, law reform commissions, and governmental agencies. Its membership - including solicitors, barristers, notaires, judges, and scholars, all experts in trusts, estates, and inheritance law, and/or tax law - highlight the contrasts and comparisons between the pertinent laws of civil and common law jurisdictions. This volume records the May 2002 conference in Rome, which featured four distinct areas of discussion and debate: how trusts in the civilian context (specifically Italy) are subjected to taxation; the delicate balance between inter vivos and postmortem taxation; a lively debate on the nature and rationale of the inheritance tax; and how best to serve the client at the same time as meeting one's ethical obligations. As always, this outstanding annual (the fourth in this series published by Kluwer Law International) continues to offer perspectives that open on ideas in themselves, apart from the demands and responsibilities of knowing and applying the law in busy demanding professional and scholarly environments. For this reason especially it is sure to engage the deep interest of researchers, academics, practitioners, law reform bodies, governmental groups and their advisers working in this complex and varied field of law.

Depending on the goals to be achieved, there are many ways to calculate a company's profits. This is to a great extent due to the different aims of financial and tax accounting. Financial accounting is undergoing a growing influence of IAS/IFRS. IFRS is also exerting a growing influence on tax accounting. This is especially visible in the European development of a Common Consolidated Corporate Tax Base (CCCTB) for multinational corporate entities. Although no formal link exists between IAS/IFRS and CCCTB, IFRS will likely be a strong material influence on various key elements of the CCCTB. Many tax professionals (and Member States) fear the influence of IAS/IFRS on tax accounting mainly given the divergent aims of IAS/IFRS and tax accounting. The introduction of IAS/IFRS will have significant consequences for tax accounting, disclosure and corporate law accounting concepts in individual Member States. Since IAS/IFRS is strongly influenced by the Anglo-American view on accounting, a question arises regarding its potential influence on the various continental disclosure, tax and financial accounting systems. In other words, one can readily envision a confrontation of systems with totally different backgrounds. This insightful work focuses on the consequences of this 'clash of cultures' for tax accounting, disclosure and corporate law accounting concepts.

The complexity of taxation exceeds all bounds when fastened to a multinational corporation (MNC). In a maze of rules that are always changing, a tax practitioner in the MNC landscape must be extremely well informed and ready to act with sound strategic judgement. To such a practitioner, this planning guide - which covers tax-planning considerations in depth for US companies doing business in the EU - should be of value. Starting from the proposition that holding company regimes are generally favourable in Europe - and poised to become more so as the Societas Europaea (SE) becomes established - Professor Dorfmueller analyzes the design of tax conversion and deferral structures that are advantageous to US multinationals as they pursue the following crucial objectives of tax planning. It covers: satisfying goals, such as minimizing liability, maximizing credits, deducting expenses and utilizing losses; using appropriate tools, such as routing of income and classification of entities; and overcoming barriers, especially those erected by the controlled foreign corporation (CFC) provisions of the US tax law known as "Subpart F". A detailed examination of how these methodologies are best pursued under US federal corporate law is complemented by an equally precise analysis of European company taxation, with specific tax planning techniques spelled out for Germany, France, the Netherlands, Belgium, Austria, Denmark, Ireland, Spain, Luxembourg and Switzerland. The reader should find many valuable suggestions on such specialised techniques as onshore pooling in the UK, gaining access to favourable Argentine taxation via a Spanish holding company, and the potential tax ramifications of EU enlargement.

Because of the vast and growing economic powerhouse that is China today, businesses and other investors worldwide are looking more and more to that country's resources. Correspondingly, the Chinese government has developed (and continues to develop) a unique and complex system of banking law and regulation that merits the close attention of anyone doing business in China.In this authoritative book, a leading Chinese expert on financial and economic law thoroughly explains the functions, activities and procedures that characterize the behaviour of financial institutions under current Chinese law. Organizing his presentation under three overarching headings - central banking law, domestic banking law, and foreign banking law - he describes such crucial distinctions and clarifications as the following in detail: control of monetary policy formulation and implementation by the People's Bank of China (PBOC); modern central banking functions of the PBOC; independence and accountability of the PBOC; requirements and procedures for banking entry; specific risk-based regulatory and supervisory requirements of the China Banking Regulatory Commission (CBRC); problem bank resolutions of the CBRC; foreign banking law developments before and post WTO transitional period; and impact of new foreign banking regulations and rules on foreign bank activities in China."Banking Laws in China" is an essential guide for international bankers and their counsel, and a welcome source of important information and insight for business persons interested in the Chinese market or Chinese resources, as well as for international business lawyers. Academics in banking law and related economic disciplines will also find much to interest them here.

The third edition of Consumer Bankruptcy is a case book designed for a two- or three-unit law school course focusing solely on the unique issues that arise under the United States Bankruptcy Code when an individual with primarily consumer debts files for bankruptcy. The book fully explores the complexities introduced in 2005 with the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act, legislation that clearly sets out consumer bankruptcies as a very technical sub-specialty in the field of bankruptcy. Covered in this book are the barriers to entry by a consumer into chapter 7 liquidation, issues relating to discharge of debt, chapter 13 plans and chapter 13 cases converted to chapter 7. About the author: David Gray Carlson is Professor of Law at the Benjamin N. Cardozo School of Law. He is the author of a treatise on secured credit in bankruptcy and of over sixty law review articles on various aspects of bankruptcy and debtor-creditor law. Five of these articles concern the effect of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, which revolutionized the law of consumer bankruptcies. He has taught a basic bankruptcy course for 25 years, before concluding that consumer bankruptcies had become such a sub-specialty that it is better taught in a course separate from the basic course. Besides teaching at Cardozo Law School, Carlson has taught at George Washington University Law School, University of Miami Law School, University of Michigan Law School and Washington & Lee School of Law.

Lifetime distribution and redistribution is analysed in this book, in far more detail than has been attempted before. A dynamic cohort microsimulation model is used as an exciting new tool to analyse several questions which have previously been almost impossible to answer. These questions concern income distribution and redistribution, social security and income tax incidence. This book will be of interest to those working in social and economic policy who are concerned about such issues. It will also be of interest to the rapidly growing numbers of researchers and government analysts constructing microsimulation models.

Si usted es una de las personas que recibi una noticia del IRS o est bajo el escrutinio de una auditoria, este libro tiene la posibilidad de ayudarlo y darle un poco de orientaci n en ese penoso proceso. Esta escrito con el fin de leerlo desde la primera hasta la ltima p gina de una manera sencilla para que se pueda entender sin mayores complicaciones. Es adem s y, por as decirlo, un pionero en este tema en el idioma espa ol, debido a que es el primer libro en espa ol que se escribe, publica y vende en referencia a tema de auditor as de los impuestos en los Estados Unidos de Am rica. Despu s de leerlo usted podr tener una idea m s concreta y correcta de lo que es una auditoria m s all del conocimiento com n, adem s le da la posibilidad de conocer sus deberes, obligaciones y derechos en cuanto a impuestos se refiere. Todos los contribuyentes tienen diferentes puntos de vista e intereses en lo que a impuestos se refiere, por esa raz n este libro est escrito de una manera f cil de entender. Mas sin embargo las leyes y regulaciones de los impuestos est n escritas en miles y miles de p ginas, las cuales reposan en la biblioteca del congreso de los Estados Unidos, lo que indica que para entender bien lo que son los impuestos, sus leyes y regulaciones, se necesitar a leer m s que un libro. No es inusual que sea durante una auditoria cuando la gente se interesa en contactar a un contador, un agente registrado, un preparador profesional o un abogado, incluso en buscar e investigar en libros, etc., Por qu esperar a ser auditado para saber y conocer sobre este tema?

One of the great successes of the law and economics movement has been the use of economic models to explain the structure and function of broad areas of law. The original contributions to this volume epitomize that tradition, offering state-of-the-art research on the many facets of economic modeling in law.The contributors employ a variety of economic methodologies to explore a wide range of topics, including torts, contracts, property, crime, employment, the environment, and legal procedure. This depth and breadth of scholarship reflect the continuing vitality of the economic approach to law, offering an illuminating look into the future of the field and providing inspiration and guidance for the next generation of theorists. This timely volume will appeal to students, professors and researchers in both law and economics, particularly those with an interest in the theoretical and practical intersections of the two fields. Contributors: L. Anderlini, M. Baker, F. Baumann, J. De Mot, B. Deporter, D. Dharmapala, W. Emons, L. Felli, C. Fluet, T. Friehe, N. Garoupa, Z. Grossman, S. Izmalkov, C. Landeo, R. McAdams, T. Miceli, M.Nikitin, J. Pincus, A. Postlewaite, R. Rabon, G. Ramello, K. Segerson, P. Shapiro, T. Tsvetanov, T. Ulen, N. Westelius, A. Wickelgren

Changes in banking and securities regulation in many countries since 1980 have allowed banks to expand their range of financial services far beyond mere lending, an opportunity banks have been eager to grasp. This business development entails a responsibility; offering informed advice on the choices that customers must make. If we are to judge by a steadily increasing stream of lawsuits, as well as the clear results of customer surveys, most banks fail this part of the challenge. Should the law intervene? That is the basic question posed by this important book. In examining and evaluating the complex answer, and its critical implications for the banking industry, the author uses a comparison of legal systems, developments, and events in two major banking jurisdictions, England and Germany, investigating the relations in each system between the relevant legal rules and actual business practices.

This book explores the issue of private sector over-indebtedness following the recent financial crisis. It addresses the various challenges for policymakers, investors and economic agents affected by applied remedial policies as the private non-financial sector in Europe continues to face increased challenges in servicing its debt, with the problem mainly concentrated in several countries in the EU periphery and Eastern Europe. Chapters from expert contributors address reduced investment as firms concentrate on deleveraging and repairing their balance sheets, curtailed consumer spending, depressed collateral values and weak credit creation. They examine effective policies to facilitate private sector debt restructuring which may involve significant upfront costs in terms of time to implement and committed budgetary resources, as well as necessary reforms required to improve the broader institutional framework and judicial capacity. The book also explores the issue of over indebtedness in the household sector, contributing to the literature in establishing best practice principles for household debt.