 |
|
|
 |
|
| |
|
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
|
|
| BVI Submits Evidence To UK Offshore Inquiry |
by Amanda Banks, Tax-News.com, London
Monday, July 07, 2008
The government of the British Virgin Islands has become the latest in a growing
list of offshore financial centres to have submitted evidence to the UK parliamentary
committee's offshore inquiry.
In an announcement last week, the territory's government said that with its
submission to the UK Treasury Select Committee's inquiry, it was attempting
to convey the message that the BVI is widely regarded as operating a robust
regulatory and supervisory regime in financial services, and has a well-established
system of international cooperation - a fact recognised by international organisations,
such as the Financial Action Task Force (FATF) and the International Monetary
Fund (IMF).
"This is the strong message which the Territory has taken to the Inquiry
into Offshore Financial Centres by the United Kingdom Parliament's Treasury
Select Committee," Executive Director of the BVI International Finance
Centre, Lorna Smith commented about the submission, according to the BVI Government
Information Service.
The spotlight has been on the overseas territories and their financial services
sector in recent months following a report by the National Audit Office entitled
"Managing Risk in the Overseas Territories," which recognised that
the British Virgin Islands is now of major importance in the global financial
system.
"The Territory has demonstrated that it is up to the task of maintaining
a high quality of regulation as it grows and develops," explained Smith.
The National Audit Office report also noted that the BVI is better equipped
through its Financial Investigation Agency, established in 2004, to investigate
financial crime than some of its fellow UK Overseas Territories.
The inquiry, announced on 30th April, forms part of the committee's ongoing
work into Financial Stability and Transparency. The inquiry is attempting to
find out to what extent offshore financial centres are influencing worldwide
financial markets and how much of a risk they pose on global financial stability,
among other questions such as the levels of tax transparency in these jurisdictions.
Interested parties were invited to make submissions relating to these questions
up to 19th June 2008.
So far, the authorities in Bermuda, the Cayman Islands, Guernsey and Jersey
have announced that they submitted evidence to the inquiry.
.
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
LAWANDTAX-NEWS.COM
