Category Archives: Tax Shelters

Capital Economics reports BVI companies allowing to avoid US$750mln tax

According to the new report by British company Capital Economics, the assets held offshore in the BVI jurisdiction are worth US$1.5 trillion, twice more than the 2010 statistics of the International Monetary Fund. Two thirds of the BVI-registered companies are … Continue reading

Posted in British Virgin Islands, BVI Companies, Offshore secrecy, Offshore tax havens, Tax avoidance, Tax planning, Tax Shelters | Leave a comment

New US Treasury Secretary asked for tax haven problem decision

The new nominee of Trump administration for Treasury Secretary, Steve Mnuchin, was asked by Senate about his intention to close down Caribbean tax havens. Members of the US Senate requested details of how it is expected to close the tax … Continue reading

Posted in BVI Companies, Money Laundering, Offshore investment schemes, Offshore tax havens, Tax avoidance, Tax Shelters | Leave a comment

Pakistan requesting information from BVI and some other countries authorities

Finance Minister of Pakistan has requested the Federal Board of Revenue (FBR) to seek information in the Panama and Bahamas leaks. Pakistan will ask for information from the tax authorities of nine jurisdictions, including British Virgin Islands, the Bahamas, Jersey, … Continue reading

Posted in Offshore tax havens, Tax avoidance, Tax Shelters | Leave a comment

BVI and other jurisdictions to lose money for the US

According to the article from Bloomberg Businessweek, by Jesse Drucker, the US is becoming the “leading tax and secrecy haven for rich foreigners”, as it remained one of a few countries not to have signed on to an international standards … Continue reading

Posted in Offshore banks, Offshore tax havens, Tax avoidance, Tax Shelters | Leave a comment

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

Posted in BVI Companies, Offshore tax havens, Tax avoidance, Tax Shelters | Leave a comment

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

Posted in British Virgin Islands, Offshore secrecy, Offshore tax havens, Tax avoidance, Tax Shelters | Leave a comment

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

Posted in Offshore banks, Offshore secrecy, Offshore tax havens, Tax avoidance, Tax Shelters | Leave a comment

Commission Published CFATF Warning on Belize and Guyana

The British Virgin Islands Financial Services Commission has published on its home page Public Statement No. 5 of 2013, informing that on 30 May, 2013, the Caribbean Financial Action Task Force had identified jurisdictions in the Caribbean region that have … Continue reading

Posted in Money Laundering, Offshore secrecy, Offshore tax havens, Tax Shelters | Leave a comment

Australian Taxation Office investigates profit shifting to offshore structures

The Australian Taxation Office (ATO), as well as the Australian Government, is concerned about the risks and issues with the country’s tax system, and next year it is planning to focus on profit shifting, tax crime, and the misuse of … Continue reading

Posted in BVI Companies, Investigation, Offshore investment schemes, Offshore tax havens, Revenue Service, Tax avoidance, Tax fraud, Tax planning, Tax Shelters | Leave a comment

U.S. businessman used offshore bank accounts in BVI for tax evasion scheme

A New Jersey businessman Sanjay Sethi pleaded guilty to using hidden offshore bank accounts in various jurisdictions, including the British Virgin Islands, to defraud the U.S. According to the information filed by the U.S. government in federal district court in … Continue reading

Posted in Illegal actions, Offshore tax havens, Tax avoidance, Tax fraud, Tax Shelters | Leave a comment