Archive | Tax Havens

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Unprofitable subsidiaries becoming new tax haven for multinational corporations

08 Jun
multinational corporations

The study’s findings shed light on a tax planning strategy that is not currently focused on by governments, which tend to focus their efforts on firms who move their money from countries with higher taxes to lower tax-rate countries to save. “Governments expend considerable effort to prevent their tax bases from being eroded by companies […]

Armenia commits to significantly boosting foreign direct investments

02 Jun
Armenia commits to significantly boosting foreign direct investments

MONTREAL, June 2, 2017 /PRNewswire/ – Arton Capital has been appointed to study and evaluate Armenia’s potential to develop and market an immigrant investor program, following an invitation from the International Centre for Migration Policy Development. The ICMPD seeks to promote innovative and sustainable migration policies around the world. The initiative comes as a series of […]

Barbados remains Canada’s top tax haven

18 May
Barbados (Caribbean) - Carlisle Beach - Bridgetown

“It’s time for the Canadian government to review and renegotiate tax treaties with havens that enable this behaviour.” — Dennis Howlett, executive director of Canadians for Tax Fairness Ottawa (18 May 2017) — Canadians for Tax Fairness is reporting that Canadian businesses that shift money offshore love Barbados. Canadians for Tax Fairness calculated that  $6 billion was shifted to the […]

Isle of Man named International Finance Centre of the Year

04 May
Isle of Man - International Finance Centre

The Isle of Man has won the award for International Finance Centre of the Year at the International Adviser Product and Service Awards. Local companies Ardan International, Nedbank and Momentum Pensions also took home awards. Martyn Perkins MHK, Member of the Department of Economic Development with responsibility for Financial Services, commented: ‘The Isle of Man […]

Not Singapore or Mauritius: Paris is the new tax haven for FPIs

18 Apr
Portrait of Mona Lisa in Paris

Global financial giant Citi has drawn financial ministry officials’ attention that foreign funds and global banks are taking advantage of India’s treaty with France by using Paris as a base for investments in India to escape tax, reports the Economic Times. Foreign funds and global banks may be taking advantage of India’s treaty with France […]

Mauritius to become Southern Hemisphere’s number 1 financial centre within a decade

17 Apr
Mauritius - Seascape

The comments from Nigel Green, founder and chief executive of deVere Group, follow the announcement that his company has received an investment banking licence from the Financial Services Commission of Mauritius. Mr Green observes: “As a firm, we spent months carrying out comprehensive research into the world’s leading and most established international financial centres in […]

Strengthening Singapore-Shanghai Collaboration in a Changing Financial World Order

14 Apr
Singapore-Shanghai Financial Forum - light reflection Singapore skyline

Singapore, 14 April 2017… The Monetary Authority of Singapore (MAS) and Shanghai Municipal Financial Services Office (SFSO) held the 3rd Singapore-Shanghai Financial Forum (SSFF) in Singapore today.  The SSFF is an annual forum that brings together industry participants from Singapore and Shanghai to discuss pertinent market developments and explore financial collaboration opportunities. More than 200 […]

Singapore Wealth Industry 2017 Sizing the Market Opportunity

07 Apr
Singapore wealth industry

“Wealth in Singapore: Sizing the Market Opportunity 2017” analyzes the Singaporean wealth and retail savings and investments markets, with a focus on the HNW segment. The report is based on our proprietary datasets. Singapore is Asia’s pre-eminent offshore investment center, with 80% of the wealth invested in funds sourced from non-residents in 2015. However, the […]

The Heavens. Annual Report

21 Mar
The Heavens

“The Heavens. Annual Report” Paolo Woods & Gabriele Galimberti Centre Assas | Université Paris 2 Panthéon-Assas AS A PART OF THE MOIS DE LA PHOTO DU GRAND PARIS 2017 The Université Paris II Panthéon-Assas and the Rencontres d’Arles are teaming up for a groundbreaking approach to the debate over major social issues by bringing specialists […]

European Parliament: The U.S. is a Haven for Tax Cheats and Money Launderers

15 Mar
The European Union flag in the European Parliament in Strasbourg

Earlier this week, we blogged about how the United States recently declared the Philippines to be a “major money laundering country.”  On the same day of our post, March 7, the European Parliament (EP) issued a Report which describes the United States as a growing haven for tax evasion and money laundering.  Specifically, the Report […]

A Future for Offshore Financial Services?

19 Feb
The parliament building in Bridgetown, Barbados

Globalization has been a one-way street of impositions by powerful countries; fiscal sovereignty has been violated by the strong; and tax competition remains under threat from the mighty. Indeed, if the current pattern of incursions, restrictions and false labelling of Caribbean jurisdictions as ‘tax havens’, and the Caribbean as a region of ‘high risk’, is […]

Global investment flowing through tax havens grows by $700bn

10 Feb
British Virgin Islands for Global Investments

The portion of global investment flowing through tax havens has risen by $700bn in two years, according to an analysis by ActionAid. The NGOs evaluation of data from the International Monetary Fund evidences a 5% increase in investment moving through tax havens between 2013 and 2015, from $11.8tn to $12.5tn. ActionAid said this growth was […]