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International Financial Centre News: Asset Protection, Offshore Banking, Private Banking, Frauds & Scams, Internet Gaming
10 articles
STEP REPORT PROMOTES TAX HAVEN BENEFITS
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
While tax havens (or interational financial centres) worldwide are receiving a beating, a report compiled by Society of Trust and Estate practicioners is attempting to navigate the dialogue in another direction. “Offshore financial centers play a key role in the international financial system, improving the availability of credit and encouraging competition in domestic banking systems”. This leads to greater invesment in major economies, and consequently greater growth and more...
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MALTA RANKS HIGHLY IN GLOBAL ?SECRECY INDEX'
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
A global secrecy index compiled by the TJN (Tax Justice Network) has placed Malta as 22nd most secretive jurisdiction in the world. Malta achieved an opacity score of 83 out of 100 for opacity and was judged “a long way from offering financial transparency”. Despite not appearing on many blacklists, Malta still maintains a high degree of secrecy within its banking transactions.
http://www.maltatoday.com.mt/2009/11/08/t8.html
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LUXEMBOURG AND GERMANY SIGN TIEA
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
Luxembourg and Germany have agreed on a Tax Information Exchange Agreement which will allow future data exchange over tax matters between the two countries. The treaty allows Luxembourg to further shed its “tax haven” image by incorporating the “internationally agreed” OECD standard in a treaty with its larger nieghbour, source of a large portion of Luxembourg’s wealth management business.
http://www.reuters.com/article/swissMktRpt/idUSL559134720091105
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UBS FACES UP TO CHANGING OFFSHORE PRIVATE BANKING MODEL
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
UBS Zurich HQ
Changes in the worldwide offshore private banking model and reputational damage from the losses of its investment banking arm mean UBS may continue to suffer private banking outflows. Whereas previously clients at UBS could rely on strict bank secrecy and privacy tools like numbered bank accounts, fisticuffs with US authorities have rendered some of these services obsolete, while scaring away other investors. Many private banks are now taking a different approach to clients who...
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SWISS BANKS STAY IN ITALY DESPITE LIGHTNING RAIDS
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
Despite a mix of generous tax amnesties and lightning police raids on their offices, Swiss banks in Italy are well position to re-receive Italian clients who leave their domestic Swiss operations, say experts.
Wealthy Italians Are Being Lured Out of Swiss Havens Like Lugano
The Italian branches of Swiss banks should receive enough Italian business to offset the majority of outflows should thousands of wealthy Italians pull out of Switzerland.
The generous amnesty offered by the Italian...
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MAXIMUM SENTENCE FOR BETONSPORTS FOUNDER GARY KAPLAN
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
Gary Kaplan, the founder of the offshore gambling firm BetOnSports, has been given the maximum prison sentence of 51 months for “conspiring” to break racketeering laws in the US, among other violations. Kaplan has been in jail since March 2007, and has already agreed to hand over around $44 million to US Authorities which the Justic Deparment calls “proceeds” from his gambling activities.
http://www.reuters.com/article/internetNews/idUSTRE5A24IS20091103
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DELAWARE AND CITY OF LONDON IN TOP 5 SECRETIVE TAX HAVENS
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
Delaware, the City of London and Luxembourg have been rated among the most secretive tax havens in a report by campaigners for financial transparency. The Financial Secrecy Index, or FSI, was created to measure the secrecy of offshore financial centers by measuring how much privacy each jurisdiction offered and how willing they were to co-operate with foreign tax authorities. In a surprise to many, the number 1 tax haven in the world was a US...
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DUTCH PAY INFORMANT FOR SECRET BANK RECORDS
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
The secret offshore account details of hundreds of dutch citizens have fallen into government hands, after authorities received a tip-off from an informant. The Dutch government say they will offer the informant compensation, in a situation that mirrors a similar 2008 when the German authorities paid for confidential bank account details from a Liechtenstein bank.
http://www.reuters.com/article/domesticNews/idUSTRE5A15BF20091102
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US CONGRESS PRESENTS FURTHER MEASURES AGAINST TAX-DODGERS
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
Future measures against tax havens and offshore tax-dodgers were revealed Tuesday in US Congressional tax committees. A new bill has been dreamed up to stop US citizens from hiding their cash in secret bank accounts, and also hopes to raise USD8.5Bn over the next decade. The legislation follows attempts by US authorities to break open bank secrecy, which resulted in the promise of the names of 4,450 offshore account...
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SINGAPORE TAKES STEP CLOSER TO ABOLISHING BANK SECRECY
From Capital Conservator Offshore New, 2 year ago, Read 0 times. Similar articles
Singapore moved a step close to opening up its famously strict bank secrecy laws when its parliament signed a bill Monday which allowing the island to adopt the OECD standard on tax information exchange. Earlier this year, Singapore was placed on a gray list by the OECD becaused it had not signed the required number of treaties for financial transparency. This bill, which amends income tax law, will delight high-tax officials and strike fear into the hearts of wealthy denizens of offshore...
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