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Tax and Jurisdictions

The new year provides the perfect occasion for family businesses around the world to assess their 2009 performance, attempt to learn the lessons of the recession and work out how best to seize the opportunities 2010 presents. It is also the time for to review the outgoing year and look forward to the possibilities of 2010, writes Katie Barker

Family offices have been hit hard by the collapse of once reputable institutions and the exposure of fraudulent financial schemes. The question now is how to mitigate risk in the future and invest again with confidence?

The aftermath of the financial crisis has seen many people talk about the world changing forever, but few have come up with any credible, long-term solutions that are ready for implementation.

In the US, if you are a wealthy individual, you would not walk across the road without taking your lawyer, tax advisor, accountant and therapist with you. The wealthy Asian individual, however, will walk across the road on his/her own.

Italian tax authorities are investigating the Agnelli family, owners of the car manufacturers Fiat, after allegations were made that Gianni Agnelli, the late Fiat chairman, hid €1 billion of undeclared assets in Swiss bank accounts.