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Category Archives: Tax Shelters
Ex-UBS banker indicted for tax evasion services
икониThe U.S. Court has indicted former senior UBS private banker for selling offshore tax-evasion services to wealthy Americans. Martin Lack is a Swiss national who until 2003 oversaw UBS’s North America business for wealthy Americans placing their money in hidden … Continue reading
Posted in Illegal actions, Tax Shelters, Tax avoidance, Tax fraud, Tax planning
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Satyam scam: UK and Singapore give response to CBI’s rogatory letters
The Central Bureau of Investigation (CBI) (India) has received a response from UK and Singapore authorities to the Letter of Rogatory (LOR) which concerns the so-called Satyam scam with the company Satyam Computers. According to the CBI official, who decided … Continue reading
Indian Finance Ministry investigates deals in BVI and other offshore jurisdictions
By the information of the Indian press, the finance ministry of the country has begun its investigation into over 100 offshore “financial structuring deals”, undertaken by Indian business entities in offshore jurisdictions to allegedly avoid taxes or pay close to … Continue reading
The Duke of York criticised for his urge to keep tax loophole for wealthy residents
The Duke of York has provoked crytics and even indignation after he urged the UK Government to preserve a controversial loophole that allows Britain’s wealthy residents to avoid paying millions of pounds in tax each year. Now he is condemned … Continue reading
Posted in BVI Companies, Tax Shelters, Tax avoidance
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Subsidiaries of U.S. Corporations in BVI and other offshore jurisdictions
Many of the largest publicly traded corporations in the U.S., including major banks that now receive federal bailout money from the Government, are using subsidiaries in offshore tax havens, which let them avoid paying U.S. taxes. This information can be … Continue reading
US Senate Report says that 2 British Virgin Islands corporations were purpotedly used to launder USD 2.2 million
According to a Senate Report issued to pierce the secrecy surrounding offshore bank accounts, the big Swiss bank UBS and Liechtenstein Global Trust (LGT), which is run by the royal family of Liechtenstein, might help wealthy individuals avoid paying taxes … Continue reading
Skatteverket’s measures against tax avoidance included negotiations with BVI and other tax havens
Sweden organized co-operation with the neighbor countries to put more pressure on tax havens and make them loosen their secrecy laws allowing people to avoid paying Swedish taxes. The Copenhagen-based Nordic Council has been negotiating with several jurisdictions which have … Continue reading
Rivkin’s trustees are to receive $2.7 million by the decision of Jersey Court
The proceeding on the bankruptcy of late stockbroker Rene Rivkin, related to his affairs in the UK and BVI, was started more than a year ago and is not over yet. Rivkin’s bankruptcy trustee, Anthony Warner of Sydney-based CRS Warner … Continue reading
Posted in BVI Companies, Bankruptcy, Investigation, Tax Shelters
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Global banana companies avoid tax burden incorporating in the BVI and other offshore centers
The UK Guardian has revealed that multinational banana companies are using tax haven jurisdictions to avoid paying tax on their profits in the UK and in developing countries. In the course of international investigation into banana firms, it was found … Continue reading
Posted in BVI Companies, Tax Shelters, Tax planning
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FirstRand financial services group transfers clients’ money through the BVI-incorporated company
In the beginning of September, the financial services group FirstRand was charged of being involved in an illegal scheme that enabled rich South Africans to transfer money into an offshore company to bypass the taxman. FirstRand’s chairman Dippenaar, defending its … Continue reading
Posted in BVI Companies, Investigation, Tax Shelters
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