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LIECHTENSTEIN: WHO CAN YOU TRUST?
VADUZ: Tuesday we reported Liechtenstein's broad cooperation on mutual legal assistance requests from other nations.More on this story here.
Now comes word that trustees of thousands of trusts here are in chaos trying to meet a promise to reveal clients' confidential information by a fast approaching deadline. The disclosure was part of little known deal to get the principality off the FATF money laundering blacklist.More on this story here and here.
BELGIUM AS TAX HAVEN?
BRUSSELS. If you're a rich EU citizen and you play your tax loopholes right, you can save a bundle by moving to high tax Belgium, (where leftist government hypocrites loudly back EU 'tax harmonization.')More on this story here.
BULGARIA WELCOMES YOUR CASH
SOFIA. Simeon Saxe-Coburg, formerly King Simeon II, sworn in as prime minister, promptly appeals for foreign investment.More on this story here.
BAHAMAS 51st U.S STATE?
NASSAU. Having complied with OECD, FATF and US Treasury orders to eviscerate its offshore laws, The Bahamas now requires reporting to the government all cash transactions exceeding $10,000, including travelers checks, bearer shares, postal and other money orders.More on this story here.
BELIZE IN LORD ASHCROFT ROW AGAIN
LONDON. The UK Labour government continues to pressure BELIZE to abolish tax breaks for offshore investors. Highly unlikely!More on this story here.
BARCLAYS CARIBBEAN MERGER
KINGSTON, Jamaica. CIBC West Indies Holdings, subsidiary of Canadian Imperial Bank of Commerce, and Barclays UK merge to create 1st Caribbean International Bank with $10bn in assets.More on this story here.
CHINA DOMINATES HK's STOCK MARKET
HONG KONG. The blue chip Hang Seng Index is growing very Red.More on this story here.
PACIFIC HAVENS DEFY O.E.C.D. DEADLINE
Led by the Cook Islands, Pacific tax havens wont be pushed around by artificial OECD deadlines and demands for commitments.More on this story here.
HAMILTON, Bermuda. After tightening up financial and money laundering laws, this British overseas territory is cashing in on its traditional corporate tax free status. Accenture (aka Anderson) Consulting leads the US offshore parade to this mid-Atlantic tax haven.More on this story here and here.
And it looks like the US Congress wont plug the "Bermuda insurance loophole" used by many US insurers to escape US taxes.More on this story here.
AUSTRALIAN-US TAX TREATY COSTS BIG
Under a double tax treaty with the US, Australian businesses operating in the US are hit with a 15% US withholding tax on repatriated profits. Solution? Move to the NETHERLANDS, so James Hardie Industries' taxes are cut 30%, raising profits by AU$30 million (US$15.3 million).More on this story here and here.
W.T.O. HITS US F.S.C. RULES
The WTO rules US foreign sales corporation tax breaks are illegal subsidies that must end, a victory for EU complainers.More on this story here.
AMERICAN ESTATE PLANNERS FRENZY
Bush's supposed estate tax repeal really is only a one year repeal.More on this story here.
MAJOR THAI STOCK FRAUD BUST
BANGKOK. Police arrest 30 Brits in connection with a major global stock selling scam worth £100 million.More on this story here.
IRS FRAUDS SITE
The US IRS has a new web site designed to alert taxpayers and tax practitioners to tax scams and fraud schemes.More on this story here.
IRS fraud web site, here.
IF YOU DON'T UNDERSTAND THE EURO...
A Perth newspaper, The Western Australian, provides one of the best and most comprehensive explanations of the euro's advent and what it means financially and otherwise. Interesting read at,More on this story here.
PANAMA TAX SHELTERS
Want to know more about PANAMA's friendly attitude towards offshore investors and one shelter, forestry, in particular? Click here,More on this story here.
GOLD PRICES LEFT IN THE DUST
South African platinum & palladium prices are leaving gold behind.More on this story here.
GOVERNMENT SPIES ON YOUR CASH
Short, succinct and to the point; a devastating indictment of the US-FATF money laundering attack on your financial privacy.More on this story here.
BUSH REVIEW OF ANTI-M.L. LAWS
American banks applaud as the US Treasury reviews inane and costly cash reporting laws with hope of reasserting financial privacy.More on this story here.
EURO CONVERSION MAY CLEAN DIRTY CASH
Organized crime could reap huge illegal rewards during the confusion of the E664bn (US$578bn) change over on January 1st.More on this story here.
SWISS STEP UP DIRTY MONEY FIGHT
ZURICH. The Swiss parliament may create a new central anti-money laundering unit to quell criticism of a lax dirty cash policy.More on this story here.
PHILIPPINES EXPAND MONEY CLEANING RULES
MANILA. Anxious to get off the FATF blacklist, the Philippines SEC brings stock brokers under anti-ML laws.More on this story here.
CAYMAN ISLANDS INCOME TAX?
GEORGE TOWN, C.I. A growing government deficit produces talk about levying a possible income tax in this heretofore tax free haven. Will foreign investors be taxed?More on this story here.
The Ansbacher Caymans Bank scandal expands with new charges of massive offshore tax evasion by IRISH citizens hiding millions more in bogus offshore accounts.More on this story here and here.
OXFAM'S BOGUS OFFSHORE STUDY
With perfect OECD timing last year, the liberal UK think tank charged that tax havens deprive developing nations of $50 billion annually in tax revenue. The Oxfam lie is now exposed.More on this story here and here and here.
OíNEILL MISSED HIS CHANCE
The Treasury Sec. could have told all the truth; Sen. Levin and the OECD bureaucrats want to round up the runaway tax slaves and send them back to their masters. A scorching assessment.More on this story here.
Here is the official Treasury version of OíNEILLís words.More on this story here.
ISRAELI TAX COLLECTORS GO OFFSHORE
The Income Tax Authority bills millions in back taxes to offshore businessmen alleged to have evaded taxes.More on this story here.
GIBRALTAR HAGGLE GOES ON
300 years after SPAIN lost The Rock to BRITAIN, the feud goes on about who should rule this leading tax haven.More on this story here.
U.S. OFFSHORE TAX SHELTER VETOED
WASHINGTON. An offshore tax shelter used by wealthy Americans and corporations to avoid capital gains taxes by using foreign investment rules is shut down by the US Treasury.More on this story here and here.
NEVER PAY CASH FOR U.S. TRAVEL
A chilling account of how US airline and Amtrak train employees get DEA forfeiture awards by accusing travelers who pay with cash. Read this and act accordingly.More on this story here.
RICH BRITS OUTSMART U.K. TAXES
LONDON. The British are growing wealthier, but also smarter when it comes to avoiding taxes.More on this story here.
The UK Financial Services Authority broadens its anti-money laundering actions to cover many more businesses.More on this story here.
KAZAKHSTAN KASH KONTROVERSY
A campaign to lure capital back to Kazakhstan with an amnesty for untaxed profits in foreign accounts raises complaints the government is helping to launder dirty money.More on this story here.
THAI STOCK SCANDAL EXPANDS
34 Brits, 10 Americans, 10 Australians & 10 Irish, arrested as Thai authorities smashed a phony stock broker scheme aimed at investors in Australia, New Zealand, Hong Kong & South Africa.More on this story here and here.
KILL ALL THE LAWYERS?
The American Bar Association is considering loosening the strict rules that protect lawyer-client confidentiality, placing possible limits on secrets lawyers must keep on behalf of their clients.More on this story here.
DRUG WAR KILLS BANKING PRIVACY
The US Congress has made every American bank account holder a criminal suspect. It's time for this madness to stop.More on this story here.
INSIDE THE N.S.A.
A lengthy, inside look at the US National Security Agency, home of the infamous Echelon electronic spy network.More on this story here.
FBI CYBER SPYING ATTACKED
The son of a jailed Mafia crime boss was the target of an FBI operation that allowed it to record every keystroke he made on his computer.More on this story here.
BIG BROTHER'S EYES
Surveillance cameras are more powerful and ubiquitous. Increasingly we're all being monitored remotely by police.More on this story here.
SNOOPING DOWN UNDER:
NEW ZEALAND: Police here may get new power to intercept all electronic messages, including e-mail.More on this story here.
SOUTH AFRICA: Free speech organizations appeal to the public to rally against a similar police law here.More on this story here.
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