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THE U.S. AS MAJOR TAX HAVEN: EXPLANATION
UPI writer explains why and how the US is a major tax haven for foreign investors, and why it should stay that way.More on this story here.
ARGENTINE EX-PREZ SWISS ACCOUNTS MAJOR ISSUE
BUENOS AIRES. Carlos MENEM lied about his Swiss bank accounts. Now that may cost him his political come back.More on this story here.
FRENCH-ISRAELI DIRTY CASH SCHEME CONTINUES
PARIS. Judicial actions fail to curb check swapping scheme.More on this story here.
HONG KONG STILL GATEWAY TO CHINA INVESTMENTS
Hong Kong is home to more than 180 funds that focus on mainland China companies.More on this story here.
MORE CANADIANS FACE OFFSHORE STING ARREST
VANCOUVER. 'Bermuda Short' joint US-Canadian police sting nets 53, more expected to be arrested by Mounties.More on this story here.
U.S. PRESSURES EX-PREZ OF NICARAGUA
MANAGUA. US may try ex-president for money laundering.More on this story here.
DOMINICA FINANCES IN BAD SHAPE
Caribbean neighbors prop up Commonwealth with a loan.More on this story here and here.
Two sentenced by US court in Dominica bank fraud case.More on this story here.
U.S. BACKS DOWN ON MISTAKEN ASSET FREEZES
WASHINGTON. US yields to European pressure for more proof and an appeals procedure on alleged terror assets.More on this story here.
OFFSHORE DEBATE MAY CAUSE CORPORATE TAX REFORMS
Someday firms may not have to go to Bermuda to escape the IRS.More on this story here.
I.R.S. BANS LIFE INSURANCE TAX SAVINGS SCHEME
IRS nixes billions in hoped-for estate and gift tax savings.More on this story here and here.
BANK JULIUS BAER LOWERS PROFITS
ZURICH. Leading Swiss private bank shows net profit drop.More on this story here and here.
U.S. BANKS BEGIN FILING FinCEN SARs ONLINE
US banks will file realtime Online suspicious activity reports (SARs) with FinCEN, the US Treas. anti-money laundering unit.More on this story here.
SOUTH AFRICAN TAXES KILL FOREIGN INVESTMENT
JOHANNESBURG. System drives away badly need offshore investors.More on this story here.
AUSTRALIAN INVESTORS HIT BY OFFSHORE SCAMS
SYDNEY. Investors scammed out of A$500 million over 3 years.More on this story here.
GOVERNMENT PLANS TO READ BRAIN WAVES
Airport security screeners may try to read the minds of airplane passengers by using electronic brain scanners.More on this story here.
SWISS BANKER DEFENDS FINANCIAL SECRECY
ZURICH. Credit Suisse CEO says Swiss banking secrecy law is right.More on this story here.
SWISS TURN OVER MONTESINOS CASH TO PERU
GENEVA: Swiss Government turns over US$77 million to Peru in cash alleged from corrupt arms deals by ex-head spy.More on this story here and here.
E.U. DEMANDS COMMON FINANCIAL LAWS; U.K. SAYS NO
BRUSSELS: EU bureaucrats want uniformity for corporate, banking and financial laws. UK says this is a step backward for them.More on this story here.
Minimal taxes, maximum asset protection.More on this story here.
I.R.S. DEMANDS PRIVILEGED CLIENT RECORDS
WASHINGTON. IRS serves summons on banks, accounting firms, lawyers and financial advisors demanding privileged data they refuse to surrender about clients' tax avoidance and estate plans.More on this story here.
CHINA AND KOREA PURSUE TAX EVASION
SHANGHAI, China. Tax collectors target the new rich.More on this story here.
Korean tax collectors crack down on offshore tax evasion.More on this story here.
ZIMBABWE LAND CONFISCATION ONLY THE BEGINNING
HARARE. White owned farms now ... oil companies and other businesses later to be confiscated under madman Mugabe.More on this story here and here.
WHAT LIES AHEAD FOR NEW ZEALAND?
The Economist's post-election survey.Read it here.
PGP ENCRYPTION SOFTWARE IS BACK
Phil Zimmermann's PGP, the popular encryption technology, is back in the hands of an independent company.More on this story here.
All new PGP Corp.Click here.
Europeans buy it here.Click here.
E.U. BUREAUCRATS ATTACK PERSONAL PRIVACY
Demand year long retention of all e-mails, phone calls.More on this story here.
CELEBRATE VICTORY, NOT DEFEAT
Just how should America remember September 11, 2001?More on this story here.
BE ASHAMED OF THE GOVERNMENT
H.L. Mencken: "Every decent man is ashamed of the government he lives under."More on this story here.
IRS TO GET MORE OFFSHORE CREDIT CARD RECORDS
MIAMI. MasterCard ordered to cough up records of offshore credit cards issued by banks in 30 countries to pursue alleged tax cheats.More on this story here.
SOUTH PACIFIC NATIONS ASK OECD FOR HELP
HONG KONG. Leaders tell Paris-based bureaucracy they can't comply with the OECD's "harmful tax initiative" without financial assistance. Why not let them compete with low taxes and dispense with the foreign aid?More on this story here.
SETBACK FOR JERSEY
LONDON. Now that the U.S. Treasury has endorsed a proposal similar to the EU's ill-conceived "Savings Tax Directive," hopes in Jersey that "regulatory arbitrage" might delay its implementation have been dashed.More on this story here.
MORE NONSENSE FROM THE WASHINGTON POST ON CORPORATE EXPATRIATION
WASHINGTON. It's the Tax Code that encourages US corporations to re-domicile in Bermuda--not big business greed. Even after expatriation," they still pay US taxes on US profits.More on this story here and here.
U.S. SABER RATTLING LEADS SAUDIS TO WITHDRAW BILLIONS FROM US
LONDON. Is the Middle East "smart money" shifting from dollars to euros?More on this story here and here.
FLOODS DELAY GERMAN TAX CUTS
BERLIN. Chancelor Schröder's economic plans now in tatters -- tax increase ahead?More on this story here and here.
CHINA MONITORS INTERNATIONAL MONEY FLOWS
SHANGHAI. New agency formed to halt capital flight.More on this story here.
80% OF BRITISH VAT AUDITS IN ERROR
LONDON. Leaked study also reveals that nearly one fifth of the U.K. businesses audited for VAT compliance have failed.More on this story here.
US BOOKSELLERS SUE DOJ
NEW YORK. Civil liberties groups and the American Booksellers Foundation file a Freedom of Information Act request to learn how the surveillance provisions of the USA-PATRIOT Act have been implemented.More on this story here.
COMPUTER PRIVACY TOOL BYPASSED
ORANGE, CALIFORNIA. New device said to bypass "anonymizing" features of privacy software.More on this story here.
WARN YOUR TEENAGER
ASPEN, COLO. DOJ set to prosecute individuals who illegally trade copyrighted music and video files using services such as "Morpheus." EU to follow suit?More on this story here.
MORE GOVERNMENT DOUBLESPEAK
OAKLAND. New rules that supposedly protect medical privacy require national ID and for doctors to report all medical treatment (even self-paid!) into a centralized database.More on this story here.
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