I AM NOT A FAN OF THE USE OF UNILATERAL MEASURES IN international diplomacy; including the use of tax haven or other types of blacklists related to compliance with global norms on transparency and information exchange. Although we often think of this kind of state action in the context of armed conflict where there are … More OP-ED: Why Europe is Ill-Suited For The Business of Blacklisting So-Called ‘Non-Cooperative’ Jurisdictions.
Non-disclosure or secrecy is fast becoming the new competitive advantage for US-based International Financial Centres. Early indicators show that money exiting reformed secrecy jurisdictions, like Switzerland and the Cayman Islands, is heading to US tax haven-states, like Nevada and South Dakota. The attraction lies in the several public assurances made by US officials that the … More How Secrecy Is Driving Offshore Business to the US.
President of the EU Commission Jose Manuel Barros You really cannot make this stuff up! So the EU Commission publishes its long awaited tax haven blacklist of uncooperative countries.
About the signing, Chancellor of the Exchequer, George Osbourne commented that the UK was leading the way in creating a new global standard for tax transparency and automatic tax information sharing; and the agreement demonstrated their shared commitment to tackling tax evasion. Who’s next? More here.
(Cayman Islands-Australia TIEA signing; Image:IslandJournal) Of course you already know this but for a recent illustration please read on. The Tax Information Exchange Agreement (TIEA) between the Cayman Islands and Australia is not retrospective and only applies to tax periods beginning on July 1, 2010 going forward. This is understandable of course because not only … More TIEAs Unworkable in Tackling Tax Evasion, Fraud and Criminality.
According to Appleby’s latest “On the Register” report, which provides insight and data on company incorporations in offshore financial centers, company formations in both London and Hong Kong are well above those recorded in 2009. In fact, Hong Kong, as a comparator, saw a 9 percent increase in the total number of active registered companies, with … More Offshore Company Formation is Still Big Business
Your summary of the biggest tax, trade and investment headlines affecting International Business and Financial Services. 1. India to blacklist treaty partners over concerns about the lack of effective tax information exchange. 2. The British Virgin Islands, with a population of 30,000, is now the fifth biggest recipient of FDI in the world, said the annual World … More franhendy’s OFFSHORE WEEKLY