Category Archives: Offshore tax havens

About 30 Korean companies and individuals suspected of tax evasion

Korea’s National Tax Service launched an investigation into 30 corporations and individuals suspecting them of tax evasion with the help of offshore tax havens. According to the tax authorities of the country, the targeted entities and individuals are said to … Continue reading

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Report published on UK Overseas Territories

The assessment published by Christian Aid, Global Witness, and the Tax Justice Network and Transparency International UK, under the name “The UK’s Corruption Problem”, reveals the fact that the UK has not actually made significant improvements as to financial transparency … Continue reading

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U.S. Department of Justice continues offshore enforcement measures

The U.S. Department of Justice confirmed its commitment to continue offshore enforcement efforts, during recently held tax conference. The senior Justice Department official mentioned enforcement announcements concerning British Virgin Islands, India, Israel, Liechtenstein, Panama and Belize. The official also commented … Continue reading

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BVI tax haven included in EC’s blacklist

The European Commission has published its blacklist which is part of its Action Plan for Fair and Efficient Corporate Taxation. This Action Plan sets out policies and strategies to “tackle tax avoidance, secure sustainable revenues and strengthen the Single Market … Continue reading

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Billions of dollars associated with BVI and other Caribbean countries held in a Swiss bank

The report was released by the International Consortium of Investigative Journalists, containing information which came from former HSBC bank employee in Switzerland, about billions of dollars held in nearly 60,000 internal documents of HSBC from 2006 to 2007. According to … Continue reading

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Cytavision said to have sent money to BVI and Seychelles companies

Digital television service platform Cytavision, which is the biggest television service provider in Cyprus, has been found to send money to the accounts in the British Virgin Islands and Seychelles offshore tax havens. The trail of money has been discovered … Continue reading

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BVI companies used by foreign investors to inflate prices in UK property market

сондажиIn the article published recently by The Independent, it is claimed that the majority of properties in the UK are purchased by offshore companies registered in the names of Asian investors. Many of these companies are domiciled in the British … Continue reading

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International restaurant chain uses complex offshore structure including BVI companies

The Guardian reported that well-known restaurant chain Nando’s had been accused of operating a complex offshore tax avoidance scheme. South African capital of the chain flows through Malta, the Isle of Man, Guernsey, Ireland, the Netherlands, Luxembourg, Panama and the … Continue reading

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BVI and Cayman Islands businesses not welcomed in Hong Kong banks

According to the recent media publications and information from public and analysts, it has become more difficult to apply for banking services and open bank accounts in Hong Kong, which is one of the world financial centres. Due to the … Continue reading

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BVI remains blacklisted by France, Jersey and Bermuda removed

According to French Finance Minister, the so-called “black list” of uncooperative states has been admitted as effective. It has resulted in Jersey and Bermuda cooperating fully with France, and being removed from the “black list” in accordance with a decree … Continue reading

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