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May 27, 2009


Editor's Note
The days of foreign tax havens may be coming to a close. In an attempt to stave off the effects of a sour economy, many governments are rethinking their taxation systems. In the U.S. we are seeing a variety of creative tax increases, not the least of which is an attempt to tax money deposited by U.S. citizens in offshore accounts. Our country is not the only country looking for additional revenue. Interestingly, some countries are turning to tax decreases as a way to stimulate their economies. Huh? That's correct. Some have figured out the fact that lower taxes encourage growth and new business development and thus result in more taxes being paid in the long run. The articles in this special news bulletin on international taxes give you a taste of what's happening in our country and abroad.

Best regards,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com




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