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GIBRALTAR SLASHES CORPORATE TAXES
Under EU and UK pressure to end its supposed “preferential” offshore tax regime, Gibraltar cuts business taxes from 35% to 8% for everyone, as the UK government undermines the economy of its colony/tax haven.More on this story here.
CYPRUS AS TAX HEAVEN IS DEAD
NICOSIA. This once attractive offshore tax haven admits it has ended that status by appeasing EU and OECD demands.More on this story here.
NASSAU. Having systematically destroyed The Bahamas as a leading offshore haven nation, the politicians now try to paper over their damage with a phony new program that fools no one.More on this story here.
CARIBBEAN NATIONS TALK UNITY
Not for the first time, six small Caribbean island nations, including leading tax havens, talk union as a means of survival.More on this story here.
DOES BUSH BACK MORE CIVIL FORFEITURE?
WASHINGTON. The new head of the US Customs Service and IRS criminal investigations says he's going after the funds of lawyers, bankers and accountants. US money police have grabbed nearly $10 billion.More on this story here.
I.R.S. HITS MERRILL LYNCH
WASHINGTON. The brokerage agrees to pay a large fine for advocating "questionable tax shelters" to clients.More on this story here.
I.R.S. MISPLACES ALMOST A BILLION
The check was not in the mail! 40,000 federal tax returns and payments involving $810 million were either lost or destroyed.More on this story here.
EURO OFFICIAL LAUNCH
BRUSSELS. On Thursday EU bureaucrats launched the 'euro' and all over Europe, hoarded cash is coming out of mattresses.More on this story here and here.
EURO VS. ITALIAN FREEDOM
ROME. A Italian activist concludes the Italian government has sold out Italy's sovereignty by accepting the euro.More on this story here.
EUROPEANS HOARD CASH
Many Europeans keep their money unbanked. A third of the 333 billion euro (£210 billion) cash circulating in Europe is hoarded to avoid taxes.More on this story here.
SPANISH ELITE VICTIMS OF MULTIMILLION $ SCAM
MADRID. A trail of $91 million dollars in possible fraud winds its way through Jersey, Switzerland and an as yet unnamed tax haven.More on this story here.
F.A.T.F. BLACKLIST DWINDLES
We have reported much about the OECD's Financial Action Task Force (FATF) blacklist issued in June 2000 accusing 15 nations of tolerating criminal cash. As of early this week only RUSSIA, the PHILIPPINES and NAURU remained on the list.More on this story here.
And two days ago the Pacific island of NAURU, said it too has a new anti-money laundering law in place.More on this story here.
F.A.T.F. "TOOTHLESS POODLE"
A leading advocate of offshore financial freedom claims that in the area of Internet gambling, now a booming $3 billion a year business, FATF is as ineffective as a "toothless poodle".More on this story here.
PUTIN'S OFFSHORE CONNECTION
The RUSSIAN president's alleged connection with criminal offshore cash dealings may have kept the nation on FATF's blacklist.More on this story here.
ANTIGUA COMES CLEAN
Both the US and UK lifted their 'financial advisory' warnings on Antigua & Barbuda, now this offshore nation touts its fight against money laundering and organized crime.More on this story here.
LABUAN, Malaysia's offshore financial hub, with 60 odd offshore banks in its 'International Offshore Financial Center,' also has a new Anti-ML law.More on this story here.
AFRICAN CASH CLEANERS
DARES SALAAM. Six countries in eastern and southern Africa establish a task force to curb money laundering and economic crimes.More on this story here.
UNSUNG PRIVACY HERO
George Orwell's classic novel '1984' depicts a world in which individuals have no privacy, freedom or power. Phil Zimmermann's PGP encryption helped thwart those horrors.More on this story here.
CARIBBEAN HAVENS TALK UNION
Antigua, Dominica, Grenada, St. Kitts-Nevis, St. Lucia and St. Vincent talk about a political union.More on this story here.
CAYMANS, BAHAMAS BANKS USED FOR TAX EVASION
An Ohio man faces 10 years in prison and $1 million in fines for conspiring to help his brother hide $4.5 million in offshore banks to avoid paying taxes on the money.More on this story here.
And the CAYMAN ISLANDS has yet another group fighting dirty money, the Cayman Anti-Money laundering (CAMLG).More on this story here.
BERMUDA COMPANY LIMITS
HAMILTON. The government may limit types of companies allowed to relocate here to ease labor and housing shortages.More on this story here.
FLOATING TAX HAVEN?
Come 2002, the world's first cruise ship condo hits the water. European tax collectors think it's really a tax dodge.More on this story here.
COOK ISLAND DISSENTER
RAROTONGA, C.I. Politician makes an angry attack on expatriate business people and foreign investors.More on this story here.
NAURU'S NEW HAVEN ROLE
It may look idyllic, but what will 300 Afghans make of Nauru, an offshore haven speck in the Pacific Ocean?More on this story here.
CANADA ANTI-MONEY LAUNDERING RULES DELAYED
OTTAWA. Canada's politicians learned nothing from the burdens of the miserable US cash reporting laws, and so their statutory imitation is doomed to repeat the US mess.More on this story here.
Text of Canadian Proceeds of Crime (Money Laundering) Act:More on this story here.
And stung by the Financial Action Task Force blacklisting, EGYPT plans to adopt a new anti-ML law soon.More on this story here.
HUNGARY ENDS ANONYMOUS BANK ACCOUNTS
BUDAPEST. Hungary was added to the FATF dirty money laundering blacklist last June, so now it bans its version of the dying Austrian sparbuch.More on this story here.
EURO LAUNCHES ALLEGED CRIME WAVE
LONDON. Some say the new euro currency carries risk of money laundering on a huge scale.More on this story here.
GERMAN KNOCKS TOBIN TAX
BERLIN. A Finance Ministry spokesman says a tax on international capital transactions is not the way to go.More on this story here.
BLACK SHEEP BEATS BANK
WILMINGTON, Delaware. Could you be the beneficiary of a $300 million trust and not even know it? It's possible.More on this story here.
GET MORE CASH FROM OLD TRUSTS
If you're the income beneficiary of a trust and need more spending money, read this. Then call your trustee and ask for a bigger slice.More on this story here.
FAST TRACK U.K. PASSPORTS
LONDON. Foreign executives starting work in Britain can get special fast treatment for requested visas.More on this story here.
BRIT TAX HAVEN CASINOS UNDERCUT U.K. TAXES
Crown Dependency tax havens were once controllable when London could watch and record the movement of people and money. Controlling the movement of Internet electrons is nearly impossible, thank Heaven!More on this story here.
In the Irish Sea, the ISLE of MAN enjoys a tax bonanza as it is swamped by demand for costly Internet casino licenses.More on this story here.
On the Channel Island of GUERNSEY, domiciled funds now total £32 (US$46.7) billion, up £5.5 billion during the 2nd 2001 quarter.More on this story here.
JERSEY and GUERNSEY are hopeful about 'new' OECD policies.More on this story here.
GIBRALTAR TAX SLASH CONFIRMED
The government confirms it will cut corporate taxes from 35% for domestic companies to 8%-12% for all companies, an attempt to keep offshore companies in this British tax haven.More on this story here.
CARIBBEAN HAVENS COURT TAIWAN
Antigua, Dominica, Grenada, St. Kitts-Nevis, and St. Lucia are talking political union.More on this story here.
Now they are seeking financial aid from TAIWAN.More on this story here.
COOK ISLANDS UPHOLD TRUST PROTECTION
RAROTONGA, C.I. The High Court issues a "Mareva Injunction" requiring a local trustee to transfer all assets of a CI trust in a Swiss bank to the Cook Islands.More on this story here.
More about Mareva injunctions:More on this story here.
But all is not well in Cook Island domestic politics.More on this story here.
TOBIN TAX THREAT LINGERS ON
Franco-German leaders talk taxes on cross border capital moves.More on this story here.
Socialists, leftist and tax collectors love this asinine tax.More on this story here. More on this story here.
But German finance officials says it's impractical nonsense.More on this story here.
U.N. WORLD TAXATION PLANS
How the UN plans to impose global taxation.More on this story here and here.
OPPOSITION TO E.U. STOCK RULES
More new bureaucratic EU directives governing stock and bond issues could raise costs and hurt capital markets.More on this story here.
SOUTH AFRICA ATTACKS ON WEALTH
The nation badly needs foreign investment, but the ANC government seems bent on scaring off capital with still more taxes.More on this story here.
OFFSHORE SPANISH CASH FALLS
Spanish investment in tax havens fell by 47% in 2000.More on this story here.
IRISH MILLIONAIRE WANTS RICH GAMBLERS
One of Ireland's richest and most elusive men launches an Internet sports betting service aimed at the richest gamblers.More on this story here and here.
FINANCIAL ACTION TASK FORCE HYPOCRISY
PARIS. The president of FATF, Regina Ip of Hong Kong, tells her fellow cash cops how vigilant her own government is in fighting money laundering. Meanwhile, Hong Kong tax evasion is UP 69% since 1995.More on this story here and here.
FATF SAYS 'KILL DUE PROCESS'
As a prelude to police forfeiture, FATF demands all nations reverse the burden of proof, forcing accused 'money launderers' to prove assets are clean. FATF wants laws to reveal true owners of all IBCs and trusts.More on this story here.
RUSSIAN DIRTY LAUNDRY
MOSCOW. A revealing interview; the head of the Russian National Reserve Bank, on capital flight, money laundering, and much more.More on this story here.
E.U. PARLIAMENT KNOCKS ECHELON
The European Parliament says Echelon, the US global electronic surveillance, does exist and it breaches human rights. (Duh!)More on this story here.
CASH I.D. SURVEILLANCE CHIP
Hitachi develops a chip to be woven into paper money to expose counterfeit cash. It also can track your cash movements.More on this story here and here.
TEMPORARY ENCRYPTION KEYS
Beat UK government surveillance laws that require turn over of your secret encryption keys; use temporary keys.More on this story here and here.
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