Offshore Tax Havens
Hong Kong Emerging as Exciting Offshore Business Centre
Published on 15 April 2008Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
The Special Administrative Region (SAR) of Hong Kong officially enjoys the highest level of economic freedom in the world according to a recent survey conducted by the Heritage Foundation in association with the Wall Street Journal; and as a result, Hong Kong is emerging as an exciting offshore business centre.
The latest figures relating to the amount of foreign direct investment received and the number of new local companies registered in Hong Kong in 2007 really highlight just how successful the government of the special administrative region of China has been in creating an attractive fiscal environment. And according to offshore industry sources, despite the predicted 2008 global financial slowdown, Hong Kong is still positioned to expand as an offshore tax haven.
Lichtenstein an Unattractive and Uncooperative Offshore Tax Haven
Published on 05 March 2008Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
The tiny Principality of Lichtenstein located deep in the heart of Western Europe is considered an uncooperative offshore tax haven by the Organisation for Economic Co-operation and Development - and now that reports abound about Lichtenstein bank data allegedly being sold to the UK and German tax authorities, could it just be that the jurisdiction has suddenly become unattractive too?
Until recently Lichtenstein was considered one of the most private and secure offshore tax havens in the world with significant penalties certainly incurred by anyone who dared break the location’s secrecy laws. Now it seems that external pressure from the OECD as well as an internal violation of the fundamental laws protecting the security of the Principality’s ‘customers’ could be putting more pressure on Lichtenstein than it can bear.
Offshore Tax Havens Update on Isle of Man
Published on 13 February 2008Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
According to comprehensive data relating to the development of various sectors of the offshore fiscal industry in the Isle of Man, this particular well-regulated and respected offshore tax haven is continuing to assert its dominance in the international financial services arena.
We have collated the pertinent facts and relevant data from the recent updates about the development of offshore financial business in the Isle of Man as part of our offshore tax havens update, this will enable individuals to assess and compare jurisdictions as they do their due diligence on which global centres offer them and their assets the most secure and competitive location for investment, insurance, banking etc.
Offshore Tax Havens to be Targeted
Published on 10 February 2008Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
According to an in-depth report by Reuters, the US are planning an intensive crack down on offshore tax havens preferred by their elite and wealthy citizens.
The report focuses on Senator Carl Levin’s drive to stop taxation being avoided offshore by some of America’s most successful and affluent individuals. The Senator is proposing legislation and law changes to prevent offshore schemes being promoted in America, and he is also pushing for penalties to be placed on legal offshore centres in the same way as illegal offshore money laundering locations are penalised. So, offshore tax havens are to be targeted – but what does this mean for the average American tax payer?
The World’s Best Tax Havens
Published on 06 January 2008Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
The world is full of tax havens – the UK can be a tax haven for non-domiciled individuals for example, and certain states in America are even tax havens for those who do not reside therein but who use the states as places to register their business for example.
However, the UK and US are not high on the list for most people when is comes to considering the world’s best tax havens; naturally enough the locations typically synonymous with low tax that we think of are jurisdictions and nations such as the the British Virgin Islands, the Cayman Islands, Switzerland, Lichtenstein and Monaco. But in actual fact, some of the best tax havens in the world are far less glamorous…
Cyprus is Most Attractive Offshore Tax Haven
Published on 02 January 2008Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
According to a recent survey conducted by KPMG, Cyprus is one of the most attractive offshore tax havens in Europe.
Together with Ireland and Switzerland, Cyprus enjoys relative transparency in its tax structures, suffers lower levels of taxation change and upset annually compared to other European countries, and has the highest percentage of local citizens happy with the level of tax legislation in place according to the survey.
Tax Haven Update from the OECD
Published on 28 November 2007Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
The Organisation for Economic Co-operation and Development, (OECD), has been reporting in two areas of policy development and legislation advancement and effectively a tax haven update from the OECD has been produced from the data reported.
It is clear that the organisation’s aims to crack down on harmful tax practices and on the ability of individuals to evade taxation by banking, doing business or residing in certain countries are becoming more and more successful.
Offshore Tax Havens in Europe
Published on 04 November 2007Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
According to the latest Sovereign report, offshore tax havens in Europe are competing to win and retain ever more business - and as the competition heats up, so the attraction of the various European offshore jurisdictions is increasing.
For consumers and clients this is excellent news particularly for those involved in international business who require registration or banking services in a reputable location to achieve and maintain their own clients’ confidence. In this article we’ll take a look at the improving tax haven landscape in Europe.
OECD Update on Offshore Tax Havens
Published on 13 October 2007Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
According to a recent article in Forbes, The Organisation for Economic Co-operation and Development (OECD) is less than happy with a number of the most highly regarded offshore centres and the efforts that they have undertaken to improve transparency and remove the possibility of criminal taxation evasion activity happening within their borders.
The OECD update on offshore tax havens targeted specifically Austria, Luxembourg, Switzerland and Singapore claiming that these popular, well regulated, private and secure jurisdictions have been less than fully cooperative with recent amendments to international standards for information sharing.
Luxembourg and Isle of Man Top Offshore Tax Havens
Published on 10 October 2007Category: Offshore Banking, Offshore Investment & Savings » Offshore Tax Havens
The European jurisdictions of Luxembourg and the Isle of Man are the top offshore tax havens according to the latest Global Financial Centres Index which is complied and released by the City of London biannually.
The collation and creation of the index is based upon an examination of the competitiveness of the 50 leading onshore and offshore financial centres and havens in the world, and the analysis is based upon the findings of financial services leaders and their opinions are sought on 54 separate indices of competitiveness.