Tag archives for Tax Haven
“We are not tax havens!”
Authorities from Bermuda and Malta have come out to defend their territories against being labeled as tax havens, as the global crackdown on offshore banking and asset management continues. Bermuda Finance Minister Bob Richards insisted on Monday that the territory is not actively engaged in promoting profit shifting. He...
Hong Kong tax update
Tax havens under increasing pressure The global tax landscape has been changing quite a lot over the past few months, with more and more tax havens and offshore asset management centers giving in to demands by governments and regulators to increase transparency and open their books to official scrutiny....
Obama Spends $23 Billion to Bailout Foreign “Tax Haven”
Ireland received a $113 billion bailout last November to help deal with it’s massive budget deficit. About $23 billion of that bailout came from U.S. taxpayers following President Obama’s pledge in the previous May to do everything possible to support Ireland. While preventing Ireland from defaulting has obvious benefits...
Singapore, the Asian Tax Haven
Singapore, the small island lying off the Southern tip of Malaysia, has witnessed much success in attracting capital to its shores. Boasting a Gross Domestic Product (GDP) per capita of USD 50,000, it leaves an indelible impression on businessmen and investors as the jewel of Asia, outstripping its...