Offshore News Digest for Week of April 1, 2002

LIECHTENSTEIN MAY SIGN WITH O.E.C.D.

Negotiations are under way with the principality to exchange tax info.

COOK ISLANDS SIGNS, GETS OFF O.E.C.D. BLACKLIST

RAROTONGA. With the 'level playing field' proviso that no tax info will be exchanged unless all other G-7 nations and tax havens do the same.

ISLE OF MAN COMPROMISES, PROSPERS

DOUGLAS, Isle of Man. The island looks for an offshore 'flight to quality' as the Financial Times details increasing financial activity.

BERMUDA FEARS U.S. CONGRESS ACTIONS

HAMILTON. Offshore industry fears US anti-offshore proposals may curb business reincorporating but hurt insurance as well.

PANAMA BANKS NEW OPENNESS

PANAMA CITY. The financial community worked hard to clean up its act, while still preserving offshore financial privacy.

SWISS SAY NO COMPROMISE ON BANK SECRECY

GENEVA. In spite of outside pressures, top official says bank secrecy will stay.

But Swiss politicians still push to join the European Union.

And Swiss police just conducted major anti-money laundering raids.

GIBRALTAR SELLOUT REVEALED

Radio Free Europe details the predicament of The Rock.

EUROPEAN UNION TAX ATTACK

Daniel Mitchell of the Heritage Foundation details EU plans to tax the world.

UNITED NATIONS WANTS YOUR TAXES

It's not a conspiracy if it's out in the open. The UN makes plain they want a global tax collection agency, a world IRS.

US Rep. Ron Paul (R-Tex) explains how the UN plans its global tax.

O.E.C.D. PONDERS TAX ON ALL INTERNATIONAL TRANSACTIONS

PARIS. Those tax-free bureaucrats just wont let the Tobin Tax die.

Unaccountable OECD bureaucrats squander your tax money.

THERE'S MORE THAN THE EURO

Far better European currencies can make a profit. Think Britain, Sweden, Norway.

WHY ULTRA LEFTIST BILLIONAIRES?

Why are the likes of Soros, Gates & Rockefeller associated with ultra leftist causes?

SOUTH AFRICA TRASHES OFFSHORE BUSINESS

JOHANNESBURG. Having failed to bring prosperity to Africa's richest nation, the ANC government makes offshore the scapegoat.

BRITISH VIRGIN ISLANDS SIGNS U.S. IRS TAX ACCORD

The United Kingdom, on behalf of its overseas territory, the BVI, one of the largest financial centers in the Caribbean, on Tuesday signed a tax information exchange treaty with the US.

Treaty text: here.

And, not coincidentally, the BVI gets off the OECD tax haven blacklist.

BERMUDA DEFENDS AGAINST U.S. CONGRESS DEMANDS

US Senate hearings are scheduled for April 11th, and offshore Bermuda hopes US politicians wont go too far.

And here's why US companies go offshore; outrageously high US corporate taxes, double taxation of dividends and income.

Another US company goes offshore, saves $55 million in taxes.

MIDEAST TENSIONS HELP SWITZERLAND

History repeats, as foreign cash flows into Swiss banks.

Even as the Swiss step up their international ties and accords.

BELATED CAYMANS PROMISES

GEORGETOWN. Having agreed with the IRS to share tax information, the CI government says henceforth it will consult with offshore providers.

BAHAMAS LOSES SOVEREIGNTY

NASSAU. The Nassau Institute explains how radical financial laws in The Bahamas are destroying government control over the nation.

U.K. LABOURITE TREASURY THREATENS JERSEY

London & EU demands could cripple the Channel Island offshore center.

MALTA E.U. BID MAY FALTER

Domestic politics may keep the low tax island out of the EU.

1st class amenities and low taxes makes Malta very attractive for foreign retirees & others seeking permanent residence.

CHANGE IN U.K. DOMICILE TAX DISASTROUS

LONDON. Maritime leaders predict major disaster for British based shipping if wealthy, non-UK domiciled citizens are taxed.

LABUAN OFFSHORE CENTER GETS BOOSTS

LABUAN, Malaysia. Newly revised laws, increasing bank deposits.

ROYAL BANK OF CANADA SEEKS OFFSHORE HAVENS

This major Canadian bank is hunting for private banking business in Europe and Channel Island tax havens.

STAY AWAY FROM U.B.S.

The major Swiss bank has severely restricted the rights of it US clients and now its software presumes all clients are crooks.

U.S. STOCK BROKERS SERVE AS POLICE SPIES

Interesting Q & A about the new rules mandated by the USA Patriot Act governing US stock brokers and their clients.

CALL FOR SENSIBLE ANTI-MONEY LAUNDERING LAWS

WASHINGTON. A new report calls for an end to useless financial reporting and emphasis on catching real cash criminals.

LIECHTENSTEIN TRUSTS ANALYZED

A detailed discussion of the Principality's famous asset protection and family trusts.

ARGENTINA'S GREEN FEVER EPIDEMIC

BUENOS AIRES. Peso repudiators clamor for the US dollar.