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Britain to crack down on its tax havens

Britain to crack down on its tax havens

Old May 28th 2018, 7:06 am
  #16  
I still dont believe it..
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Default Re: Britain to crack down on its tax havens

Shame on you Gordon :-). Re-read those stories ! The ‘Adam and Eve’ of robot worlds, Caliban and Ariel - the non 3-law robots who feature in numbers of his stories.

Actually i understand the genius of Asimov is somewhat proved by the fact that real AI developers do consider a version of the 3 laws to be a requirement.

Consider reading Terry Pratchett and Stephen Baxters adult sci fi books - the long earth. https://en.m.wikipedia.org/wiki/The_Long_Earth
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Old May 28th 2018, 11:27 pm
  #17  
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Default Re: Britain to crack down on its tax havens

Yes, shame on me, for not having read those stories - early stories, I'm guessing. I'm not really a lover of sci-fi, but Azimov had the writing ability to bring stories alive.
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Old Jul 21st 2018, 9:34 am
  #18  
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Default Re: Britain to crack down on its tax havens

This is an interesting extract from Private Eye

WHEN MPs voted in May to force Britain’s overseas territories to open their corporate registries, revealing the beneficial owners of hundreds of thousands of shell companies, there was much rejoicing – but some bafflement too. After resisting the amendment to its Sanctions and Anti-Money Laundering Bill from Tory Andrew Mitchell and Labour’s Dame Margaret Hodge, why did the government suddenly surrender?The capitulation, it now appears from internal communications seen by the Eye, was not the honourable listening to “the strength of feeling in the House” that Foreign Office minister Sir Alan Duncan claimed at the time. In fact ministers were confident the amendment was so loosely drafted that Bermuda, the British Virgin Islands (BVI), Cayman and other territories would be able to challenge it, ultimately denying Hodge and Mitchell their victory while keeping Whitehall hands clean.

Legal battle
One deficiency of the amendment is that it does not grant a specific power to legislate for Bermuda, which has a different relationship to London than the Caribbean territories; another is its failure to specify who in the territories would be responsible for introducing the new open registries.

Government lawyers had recommended the drafting be tidied up in later stages of the bill’s passage through the Commons and Lords. But Foreign Office ministers overruled them, preferring a flawed law to pass on to the statute books (as it did three weeks after Duncan’s “climbdown”) to the prospect of upsetting the last few pink places on the map.

The legal battle is already taking shape. The BVI, arguably the territory with most to lose from open registers, has turned to law firm Withers to take on the government. “We are confident there are constitutional grounds for challenging the imposition of a public register,” said partner Hussein Haeri, also citing “human rights issues raised by public access to the register”.


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Old Jul 21st 2018, 2:27 pm
  #19  
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Default Re: Britain to crack down on its tax havens

Originally Posted by Eldudebros View Post
The legal battle is already taking shape. The BVI, arguably the territory with most to lose from open registers, has turned to law firm Withers to take on the government. “We are confident there are constitutional grounds for challenging the imposition of a public register,” said partner Hussein Haeri, also citing “human rights issues raised by public access to the register”.
I'm not a lawyer, but I've have thought the stumbling block would be not so much the human-rights issue as the Data Protection Laws that Britain has recently forced on us.
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Old Jul 23rd 2018, 1:23 pm
  #20  
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Default Re: Britain to crack down on its tax havens

As conspiracy theories go. There is one for you. It is obvious to anyone who follows politics and know the lay of the land.

One of the reason, many a conservative backers wanted #brexit to happen, was the imposition of laws from EU to close down those hidden partnerships and money laundering. I have retired as of March, so I am not up to date on the gossip. Here is one to mull about.

You can deep nest incorporated holdings and then buy a luxury apartment or a villa (depending on how much you want to spend) and not get easily traced back to you. However, if you are the masseuse, or the boy who runs errands, and they'll tell you - Miss Cocco's man is Sir A. He's here one week a quarter... You hide your money from the gummint and try and hide your woman from the missus !

Live in Sint Maarten/Saint Martin and you'll know a lot about going ons in Anguilla. Rule #X Never fly into an island where you sow your oats
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Old Aug 16th 2018, 3:39 am
  #21  
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Here is the latest attack on offshore tax-havens, for those interested in such things. This time, we're guilty of hosting subsidiaries of the First World's purveyors of ecologically unsound products - and sometimes, even, international companies whose profits depend on the destruction of rain forests. The clear implication is that if the tax-havens would only shut up shop, the world would be a safer place for us all. I suspect this idea originated with the New World Order under which all countries would pay the same taxes.
The hidden environmental consequences of tax havens - Stockholm Resilience Centre
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Old Sep 15th 2018, 11:38 pm
  #22  
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And yet another piece of bad publicity, this time from the BBC. It's interesting for me to see that the supposed crooks these days are wicked Russian Oligarchs. When I was in the business, here and in Nassau, most of our clients were British aristocrats and politicians. My, how the emphasis changes! Sigh... It's hard to keep up with who the enemies of high taxes are.
https://www.bbc.com/news/uk-45525976
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Old Nov 21st 2018, 1:26 am
  #23  
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Default Re: Britain to crack down on its tax havens

The high-tax countries aren't letting go of us offshore havens! This RT.com article tries to be objective about the topic, while parroting the standard line that we divert money from the victim-nations' infrastructure and humanitarian concerns. A few minutes Googling would tell them what it is that tax-havens actually do.
https://www.rt.com/business/443759-u...ultinationals/
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Old Nov 24th 2018, 4:12 pm
  #24  
I still dont believe it..
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Default Re: Britain to crack down on its tax havens

I was having a chat with a 'government' banker yesterday - he said the ultimate tax haven these days is hong kong. Fly in with cash, deposit it in HSBC or whichever hong kong denominated bank you care to use and the local banks will flatly ignore any requests for information from anyone, and if you or they want to argue with the chinese government about that (and they are big users of this) feel free.
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Old Nov 25th 2018, 4:45 pm
  #25  
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Default Re: Britain to crack down on its tax havens

Originally Posted by uk_grenada View Post
I was having a chat with a 'government' banker yesterday - he said the ultimate tax haven these days is hong kong. Fly in with cash, deposit it in HSBC or whichever hong kong denominated bank you care to use and the local banks will flatly ignore any requests for information from anyone, and if you or they want to argue with the chinese government about that (and they are big users of this) feel free.
This practice was common enough in Cayman when I first came here in 1978. Only damn fools condoned it or cooperated with the cash-carriers, but there were some who did. The first week I was here, some client walked into my office with a suitcase full of US dollar notes. I phoned one of the international banks here and asked if they would accept it. They said yes, so I sent the fellow to them, and then made him transfer his company to one of the law firms that handled "cowboys". I'm surprised that a place like Hong Kong would welcome the practice in these modern times, but I guess the Chinese government must be full of blatant corruption. HSBC? Well... Sigh.
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