The government will be closing down all of its construction projects and road works by the weekend, however preparation works for the Monaco Grand Prix will continue.
As part of increased measures to contain the Covid-19 epidemic and limit health risks, the government announced on Wednesday that it has decided to suspend all State-operated building projects.
The construction sites to be closed are: Helios, Jardins d’Apolline Engelin, NCHPG, Ilot Pasteur, Darse Nord, Complexe du Larvotto, Honoria, Ida, Testimonio II, Picapeira, CHPG, entrance to the Ville Jardin Exotique, 17 rue Princesse Florestine, as well as all road and public works.
Those that are not public projects will be required to follow strict hygiene measures, including social distancing. Construction sites must prove they are able to enforce these measures and checks will be carried out to make sure that standards are being respected on sites that continue their activity. Any failure to comply with these standards will see an immediate closure of the site.
The only construction operation under public contracting authority that will be exempt from closure is the quai des Etats-Unis and preparation works for the Monaco Grand Prix, scheduled for Sunday 24th May. “This work must continue until a decision to postpone or cancel the Formula 1 Grand Prix has been taken,” said Marie-Pierre Gramaglia, Minister of Equipment, Environment, and Urban Planning, “because there is still the possibility that it will be held in good conditions.”
As it will take a number of days for construction sites to prepare for the shutdown, it will not take full effect until the end of the week, said the government.
Photo: The Le Luciana construction site will be subject to strict hygiene measures (photo by Monaco Life, all rights reserved)
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The government-backed business incubator Monaco Boost has put out its latest call for applications, and this time spouses of Monegasque nationals are allowed to apply.
UK-based accountants and advisers will face tough new rules if the Treasury presses ahead with a tightening of regulations. Professionals who help people bend the rules to gain a tax advantage that Parliament never intended face tougher fines under new penalties proposed by the UK Treasury. A fine of up to 100% of the tax that was avoided – including via offshore havens – has been suggested in the new rules, which have been published for consultation, the UK press reports.
Currently those who advise on tax face little risk, while their clients face penalties only if they lose in court. The rules would “root out” tax avoidance at source, the Treasury said. The rules in the consultation document also make it simpler to enforce penalties when avoidance schemes are defeated.
“These tough new sanctions will make would-be enablers think twice and in turn reduce the number of schemes on the market,” said the Financial Secretary to the Treasury, Jane Ellison.
Until now HM Revenue and Customs has concentrated on tackling the individuals who don’t pay their tax, while advisers and promoters of tax avoiding schemes have remained shadowy figures in the background.
The intention is that will stop once there is a penalty for the professionals involved of up to 100% of the amount avoided in a scheme.
The government isn’t targeting legitimate ways of cutting tax bills, such as tax breaks for putting money in pensions or Individual Savings Accounts.
The avoidance it’s trying to root out involves bending the rules to gain a tax advantage that Parliament never intended, an alleged abuse which costs nearly £3 billion a year. Accountants see the move as a significant change, which could result in them paying fines even if the advice they give isn’t illegal.
Following the Panama Papers scandal, the five largest economies in the European Union, the UK, Germany, France, Italy and Spain, agreed to share information on secret owners of businesses and trusts. The Treasury said the move would make it harder for businesses and wealthy individuals to operate without paying correct taxes.
Speaking in July, new Prime Minister Theresa May pledged to crack down on tax avoidance, saying “tax is the price we pay for living in a civilised society”.
She said at the time, “It doesn’t matter to me whether you’re Amazon, Google or Starbucks, you have a duty to put something back, you have a debt to fellow citizens and you have a responsibility to pay your taxes.”
However, earlier this month the All-Party Parliamentary Group on Responsible Tax accused the government of undermining efforts to end tax secrecy and said it should force multinational companies such as Google to publish information on their activities in every country where they operate.
Photo: HM Revenue & Customs[/caption]
