Offshore News Digest for Week of March 25, 2002

U.S. VETOES U.N. WORLD TAXES

MONTERREY, Mexico. The Bush administration nixes plans to create an International Tax Organization, as leftists and a Communist complain.

Eyewitness report: Anger in Monterrey.

MORE HAVENS COMMIT TO O.E.C.D.

Belize & Gibraltar are the latest tax havens belatedly to sign on with the OECD's tax information exchange plan.

CARIBBEAN PERSPECTIVE ON TAX COMPETITION

New study says OECD ignores small nations views and needs.

TREASURY OFFICIAL SAYS U.S. STILL SUPPORTS O.E.C.D

Washington remains a supporter of the OECD, says he.

DEMAGOGUES IN U.S. SENATE DUMP ON BERMUDA

Rather than reform corporate tax laws, US Senators grab for headlines with phony complaints about 'unpatriotic tax evasion.'

SWISS DIPLOMAT SAYS NEUTRALITY OUTDATED

Swiss neutrality is old fashioned, says former diplomat.

But new Swiss passports are right up to date, with bio bar codes.

GIBRALTAR SELLOUT DEAL NEARS

U.K. Labour government ready to compromise with Spain on The Rock.

GUERNSEY CLAIMS ULTRA-CLEAN STATUS

The Channel Island's financial leaders are self-satisfied.

U.K. LAWYERS WARNS AGAINST DOMICILE LAW CHANGE

LONDON. They warn wealthy foreigners will leave UK.

LAST ANONYMOUS BANK ACCOUNTS

BUDAPEST. With Austria's sparbuchs going, Hungary is eliminating its last anonymous bank accounts.

CAYMANS OFFSHORE SLIPPING

GRAND CAYMAN. More evidence of Cayman Island offshore financial slippage after its OECD and IRS agreements. Bank of Bermuda going.

U.S. PRAISES SWISS ANTI-MONEY LAUNDERING POLICIES

Switzerland's financial intelligence system is one of the best in the world, says visiting U.S. State Dept. official.

MANX MUDDLE ON INSURANCE RULES

DOUGLAS, Isle of Man. Insurance self-regulators have a difficult go at writing industry anti-money laundering rules.

PANAMA'S GREATEST ASSET

The Panama Canal refocuses towards greater profits.