Invest Offshore

Category: Tax Havens

  • European Parliament: The U.S. is a Haven for Tax Cheats and Money Launderers

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    Aaron
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    Earlier this week, we blogged about how the United States recently declared the Philippines to be a “major money laundering country.”  On the same day of our post, March 7, the European Parliament (EP) issued a Report which describes the United States as a growing haven for tax evasion and money laundering.  Specifically, the Report…

  • A Future for Offshore Financial Services?

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    Aaron
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    Globalization has been a one-way street of impositions by powerful countries; fiscal sovereignty has been violated by the strong; and tax competition remains under threat from the mighty. Indeed, if the current pattern of incursions, restrictions and false labelling of Caribbean jurisdictions as ‘tax havens’, and the Caribbean as a region of ‘high risk’, is…

  • Global investment flowing through tax havens grows by $700bn

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    Aaron
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    The portion of global investment flowing through tax havens has risen by $700bn in two years, according to an analysis by ActionAid. The NGOs evaluation of data from the International Monetary Fund evidences a 5% increase in investment moving through tax havens between 2013 and 2015, from $11.8tn to $12.5tn. ActionAid said this growth was…

  • Overseas Territories of the USA

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    Aaron
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    U.S. Census Bureau Daily Feature for February 6: Overseas Territories WASHINGTON, Feb. 6, 2017 /PRNewswire-USNewswire/ — Following is the daily “Profile America” feature from the U.S. Census Bureau: OVERSEAS TERRITORIES Profile America — Monday, February 6th. On this date in 1899, the Senate ratified the Treaty of Paris, concluding the Spanish-American War of 1898. The…

  • Mnuchin’s Offshore Companies Underscore Need to Tackle Tax Havens in Tax Reform

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    Aaron
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    Statement by FACT Deputy Executive Director Clark Gascoigne WASHINGTON – The offshore companies controlled by Treasury Secretary-designate Steven Mnuchin featured prominently in his Senate confirmation hearings held last week in Washington.  It was revealed that the former investment banker managed companies with assets in Anguilla and the Cayman Islands, both widely recognized as tax havens.…

  • Luxembourg House of Financial Technology (LHoFT)

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    Aaron
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    Nasir Zubairi: Appointed CEO of the LHoFT The Luxembourg government and its partners are pleased to announce the appointment of Nasir Zubairi as CEO of the Luxembourg House of Financial Technology (LHoFT). The LHoFT is a new and exciting public-private sector initiative that will be dedicated to advancing Luxembourg’s fintech ambition. Its founding private sector…

  • When A ‘Tax Bonanza’ Is Actually A Huge Corporate Tax Break

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    Aaron
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    There is a push underway for a huge corporate tax break from the next administration. Multinational corporations owe more than $720 billion in taxes on profits stashed in tax havens. They are proposing to bring those profits back if the government lets them pay only a fraction of what’s owed. This is being sold as…

  • U.S. PIRG Statement on Treasury Rule to Limit Corporate Tax Avoidance

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    Aaron
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    Statement from U.S. PIRG advocate Michelle Surka on new Treasury Department rule to limit multinational corporate tax avoidance: “We applaud the step the Treasury Department has taken to curb the epidemic of corporate tax avoidance. Based on early analysis, the new rule introduced by the Treasury could recover close to $600 million worth of federal…

  • Study: 73% of Fortune 500 Companies Used Tax Havens in 2015

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    Aaron
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    $2.5 Trillion in Offshore Profits, Worth $717.8 Billion in Federal Taxes WASHINGTON – In 2015, more than 73 percent of Fortune 500 companies maintained subsidiaries in offshore tax havens, according to “Offshore Shell Games,” released today by the U.S. PIRG Education Fund, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. Collectively,…