DAVIS TAX COMMITTEE SECOND INTERIM REPORT: WHAT YOU NEED TO KNOW OCTOBER 2016
The Davis Tax Committee (DTC) recently released its second interim report on 24 August, for public comment. The DTC is advisory in nature, and was established to make taxation recommendations to the Minister of Finance.
The Minister will take into account the report and recommendations and will make any appropriate announcements as part of the normal budget and legislative processes.
As with all tax policy proposals, these proposals will be subject to the normal consultative processes and Parliamentary oversight, once announced by the Minister. We would like to take you through some of the key points from the proposals, as well as the reasoning behind them:
MARKET UPDATE: BELOW AVERAGE EQUITY RETURNS OCTOBER 2016
Global Markets:
The MSCI World Index (Developed Markets) was down 2% this month whilst Emerging Markets were flat. The major contribution to the negative return of developed markets was the US S&P Index which lost 1.8% in the month. October is infamous for bringing market corrections, so on this occasion this may not be a bad result! By the time our next market update is written the appalling contest for the next US president will be over. Last week FBI Director James Coney announced that the FBI had reopened its investigation into Clinton’s use of an unauthorized e-mail server.