|
|
|
| Send an Email Via Reply Form |
|
Write an Email Message Direct |
|
Weekly Update Bulletin On-Line.........
.. In The News and Readers Write In (with our answers to Questions).......... |
| Correction
from Last Update: . Regarding the piece attributable to George Carlin, the famous American comedian, one reader wrote that this was an urban legend and that George Carlin never wrote it. Another wrote in to say that Ted Nugent is the author not George Carlin. In any event, I guess all I can say is sorry George and sorry Ted. I thought it was interesting – who ever wrote it. . . OFFSHORE INVESTMENT NEWS and NOTES: . . One very important point for our clients contacting the Appleton Mutual Fund Group (as mentioned a few times in our newsletters) - OUR AGREEMENT with the Appleton Group is that OUR CLIENTS may invest in ALL of the Appleton family of mutual funds on a NO-LOAD basis. In other words, there are no sales charges, commissions or fees for OUR CLIENTS. This is not the case for every other investor that may contact Appleton or that invests through a Financial Planner that has a different agreement, so please make sure to identify your-self as a client of ours when communicating with the fund. For more information, please contact Mr. Jeremy O’Friel in Dublin directly: . Jeremy O'Friel, CFA - Appleton Capital Management Dublin Exchange Facility IFSC, Dublin 1 - Ireland 353 1 607 5108 Phone 353 1 607 5177 Fax Email: Jeremy@appleton.ie . . Guardian Group Update: As reported previously, the new rate of interest effective for the month end of November is 10.00%. Also, investors should be aware, that the fund had changed banks in order to better handle the all of the daily wire transfers from clients. For this reason, any clients with the older wire transfer instructions should check with Mr. Andres Marranzini, to verify the current wire transfer instructions. To contact Mr. Marranzini directly: . Email: ag@theguardiangroup.com Telephone: 809-224-0572 To request a prospectus: http://www.theguardiangroup.com/emailus.htm . . IN THE NEWS: . . Top legalists say federal plan to track travelers endangers civil liberties, By JIM BROWN - Canadian Press - Friday, November 22, 2002 . OTTAWA (CP) - Government plans to create a massive database to track the movements of millions of air travelers could be unconstitutional, say two legal heavyweights consulted by Privacy Commissioner George Radwanski. Gerard LaForest, a former Supreme Court justice, and Roger Tasse, a onetime deputy justice minister, analysed the project proposed by the Canada Customs and Revenue Agency at Radwanski's request. They concluded there is a good chance the scheme would be successfully challenged in court and overturned as a violation of the Charter of Rights and Freedoms. . Radwanski made the opinions public Friday as he sent a letter to Revenue Minister Elinor Caplan reiterating his longstanding opposition to the database. "I appeal to you once again, Minister Caplan, to reconsider your position and order an immediate end to this unprecedented intrusion on the fundamental privacy of all Canadians," wrote the commissioner. There was no immediate response from Caplan's office. At issue is a proposal by CCRA to collect information on all air passengers entering Canada, including their names, birth dates, citizenship and a range of other data. . http://www.canada.com/search/story.aspx?id=3036a5db-ce4a-414d-96a4-fb775e7a392a . . SPIES LIKE US? WASHINGTON — An advisory
panel tasked with making recommendations for anti-terrorism
.efforts in the United States wants the government to create a new domestic spy agency that would engage in both foreign and domestic surveillance. http://www.foxnews.com/story/0,2933,70275,00.html . EDITORS NOTE: George Orwell has got be saying right about now, I told you so. The truth is that the US government probably already has spied on its own citizens for years, but the difference now is that they are telling you so, and with the public’s blessing no less. . . YOU ARE A SUSPECT: By William Safire, New York Times Editorial. . Every purchase you make with a credit card, every magazine subscription you buy and medical prescription you fill, every Web site you visit and e-mail you send or receive, every academic grade you receive, every bank deposit you make, every trip you book and every event you attend — all these transactions and communications will go into what the Defense Department describes as a virtual, centralized grand database. To this computerized dossier on your private life from commercial sources, add every piece of information that government has about you — passport application, driver's license and bridge toll records, judicial and divorce records, complaints from nosy neighbors to the F.B.I., your lifetime paper trail plus the latest hidden camera surveillance — and you have the super-snoop's dream: a "Total Information Awareness" about every U.S. citizen. . http://www.nytimes.com/2002/11/14/opinion/14SAFI.html?ex=1037854800&en=3778829e1bec3dc2&ei=5062&partner=GOOGLE . . The Following was Sent in by a reader – incredibly enough, it was supposedly written by Now Federal Reserve Chairman Alan Greenspan back in 1966. Some Key passages reprinted here, and the entire on-line link below: . And so the Federal Reserve System was organized in 1913. It consisted of twelve regional Federal Reserve banks nominally owned by private bankers, but in fact government sponsored, controlled, and supported. Credit extended by these banks is in practice (though not legally) backed by the taxing power of the federal government. Technically, we remained on the gold standard; individuals were still free to own gold, and gold continued to be used as bank reserves. But now, in addition to gold, credit extended by the Federal Reserve banks ("paper reserves") could serve as legal tender to pay depositors. . But the opposition to the gold standard in any form-from a growing number of welfare-state advocates-was prompted by a much subtler insight: the realization that the gold standard is incompatible with chronic deficit spending (the hallmark of the welfare state). Stripped of its academic jargon, the welfare state is nothing more than a mechanism, by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power, the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money, by issuing government bonds, to finance welfare expenditures on a large scale. . In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. . This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard. . http://www.321gold.com/fed/greenspan/1966.html . EDITORS NOTE: What happened to Alan Greenspan over the last 30 years? Did someone buy him off? Because what he has allowed, and is allowing, is the exact opposite of what was written in 1966. Also, take note that he explains that the Federal Reserve and the printed money, the US Federal Reserve Note - is NOT legally backed by the US Government. Perhaps an irrelevant point, but an interesting legal issue all the same. Which is to say, in theory, since the US Federal Reserve is a private corporation, it could go bankrupt and walk away from standing behind the Federal Reserve Note paper money that it prints. In addition, the US Government is under no legal obligation as the Federal Reserve Note paper money is not an obligation of the US Government, but rather a script note issued by a private corporation (that was basically granted an operating license to do so). Interesting stuff. . As we wrote earlier, interest rates in the Dominican Republic and other markets are the true rates. No one truly knows what the real inflation rates or interest rates are in the US, and most people do not care either. However, many argue that a very real banking and economic crisis is in the works in the US, in part due to manipulation by or at the consent of the Federal Reserve. The argument for this is ironically in fact Alan Greenspan’s own comments made 30 years ago as mentioned above. . . READERS WRITE IN: . . Hi John - The new Homeland Security bill in the USA is scary. The law is there in the USA so not much to do about that. General Poindexter has said that their goal is to make the "Total Information Awareness Program" (TIA) international. I for one think England will be next - Blair might already have promised Bush something - and after England it will be the European Union? Horrible! This reminds me about the old Soviet Union! . http://www.thenation.com/thebeat/index.mhtml?bid=1&pid=159 . http://www.thenation.com/capitalgames/index.mhtml?bid=3&pid=168 . . EDITORS REPLY: Thank you for the articles and the information. . . Another Reader Writes: John, Just wanted you to know that I followed your advice and flew to Panama just prior to my extended Central American trip. . I have read some things in your newsletter of
some people expressing some displeasure with the country. Things like
.Colombian hookers, police stops, etc. After only 24 hours, let me recall my experiences. I was on Copa Airlines from the DR en route to Panama. I was the only gringo on the flight. About 10 minutes before landing, I struck up a conversation with the person in the next row about my hotel address. The Panamanian, in perfect English, explained the location, distance from the airport and the probable taxi charge. As I was getting my luggage from baggage claim, he comes over and asks if I want a ride to my hotel. Thinking I had "stupid" written on my forehead, I proceeded to the nearest mirror I could find. Looking in the mirror, I could not see anything written on my forehead, but I did see an ugly American. I went back to the gentleman and said I would more than appreciate the ride. For liability purposes and a disclaimer, I would not recommend this to anyone. You must remember that I am a naive, white boy from the South. Many international people will not know what I mean by this - but surely you do. . I was dropped off at the Marriott by the gentleman and gave him some extra money for his trouble. He was not expecting this and was quite surprised. The Marriott ran $75 per night for weekend nights and I was to be there Fri-Sun, so this worked perfectly. The hotel was worth at least $150 for its location, large room, many amenities, etc. I took a taxi to dinner that should have run in the $10 range, but the guy only charged me $3. I later went for a Coke at a McDonalds that offered free internet services if you bought the combo meal. I looked up at the prices and they were less than the American combo meals. I am a McDonalds aficionado, believe me. I went to the local internet cafe, from which I am writing this message, and they only charge $1 per hour. I just went to the Mail Boxes Etc. office to rent a box for a year. If I paid up front, the girl offered to knock $25 off the price. . All of this in the first 24 hours - For someone to complain about Panama seems unreal. With my limited experience, I have yet to encounter the Policia or the Colombian hookers. Maybe I am just hanging out in the wrong, or right places? Again, thanks for the advice to make the visit. I am really impressed. . EDITORS REPLY: Thank you for writing and sharing your experiences with other readers and clients. . . Another Reader Writes: . . The Heritage Foundation and the Wall Street Journal today released the 2003 Index of Economic Freedom. They drew the connection between freedom and prosperity. Economically free countries tend to have higher per capita income than less free countries. For example, Hong Kong ranked #1 as the most free, with per capita income of $24,218 while Iran's was $1,649. "Free" countries in 2000 had an average per capita income of $26,855, while "mostly free" countries had slightly less than half that. . The USA is ranked #6, tied with Denmark and Estonia. The top 5 were, in order: Hong Kong, Singapore, Luxembourg, New Zealand, and Ireland. In the "Mostly Un-free" category, the Dominican Republic was ranked in the #85 position, tied with Guinea, Kenya and Mauritania. Panama was #44. Maybe the lack of economic freedom in the DR is the reason why it is an economic basket case? . EDITORS REPLY: I take it you have never been to the Dominican Republic, is that accurate? If so, you might have been almost run over by the incredible number of NEW sport utility vehicles (at 40% interest for the car loan no less). The Dominican Republic is for sure an emerging market, and while it is certainly true that the per capita income is not in the same category as European countries or elsewhere – It is also true that the Dominican Republic does not have the same per capita DEBT of other nations either. When you calculate in or deduct out the per capita debt of countries like the US, it is somewhat amazing that you arrive at a per capita income number that is about less than half of the original number and much closer to the number for those so-called basket case un-free poor countries. . It is somewhat interesting then to conclude that the per capita income in nations such as the US is in reality (after debt, the interest payments on that debt, and tax payments or other deductions to that per capita income is calculated in) much closer to so-called third world nations, if not worse. However, it is true that the cost of living is certainly much less expensive in the so-called third world nations, making for an argument about cost of living and the affordability of lifestyle for people living in the US (as an example, vs. people living elsewhere). . It is also interesting that the Dominican Republic has posted far better economic growth returns over the last 8 years than the US and Europe. Which is the entire point. Most smart investors know enough to buy low and sell high. The time to get in on a growing market is at the bottom, not at the top. Basket case? Hardly. Emerging market? Yes. If a country such as the Dominican Republic was such a basket case, then why would chains like Price-Mart, Pay-Less, GAP Stores, Goodyear Tires, Dunkin Donuts, etc. want to open up new stores? Why would four BRAND NEW banks open within the past 18 months in a basket case nation (where supposedly there is no money)? . The US is ranked in the top ten as far as Per Capita Income of its citizens. Wonderful news. Here are some additional statistics and information taken from the link referenced below (for those that like reports, think tank statistics and so on). Which is to say, very nice to hear the average per capita income is US$28,000 – but also equally interesting to point out the national per capita debt as well. Like I have said before, if you are going to put your cards on the table, put them all out and not just the Jokers: . In 1994, the US national debt reached 70 percent of the GDP. But in the year World War II ended, the debt soared to 123 percent! In 1950 it was 97 percent, and in 1955 it was 71 percent. The 34 to 36 percent debts that President Carter ran were actually the golden years of debt reduction. There is one difference, however, between the debts immediately following World War II and those of today: the performance of the economy. Today's economy is hardly the juggernaut that postwar America was, and paying off today's debt will take much longer. . At a 1995 meeting of the American Economics Association, almost no economist argued that the debt was a serious problem requiring immediate attention. The debt of the U.S. economy is immense, but so is the tax base, namely, the U.S. economy, writes Paul Krugman. "The U.S. government is not in any kind of financial crisis. If a crisis were to loom on the horizon, banks would stop lending to the U.S. government, but that point is a very long way off. And a comparison of other countries debt per capita reveals that our debt load is merely one of the front-runners, and not completely outrunning the pack: . Debt per capita, 1991 Statistics – Belgium, $16,423 Japan, $14,049 United States, $12,433 Italy, $12,145 Ireland, $10,580 Sweden, $9,541 Netherlands, $9,368 Canada, $8,597 Norway, $5,498 United Kingdom, $4,635 France, $4,426 Finland, $2,798 Germany, $977 . However, what is US Per Capita Debt today – just some 10 years later? How about US$21,000 per person? So, a per capita income of US$28,000 does not look so attractive anymore, when you deduct the US$21,000 per capita debt – leaving a real or net per capita income of US$7,000 (or perhaps we can say a net solvency). . http://mwhodges.home.att.net/nat-debt/debt-nat-b.htm . However, a growing number of economists are expressing concern that two problems lie down the road for the U.S. One is that, if we continue running deficits that outstrip our economic growth, the U.S. government will eventually be forced to address problems of solvency. The second is that the retirement of the Baby Boomers, beginning in 2010 or so, will create demands on the Social Security system that, combined with the debt, will create a financial crisis. . http://www.korpios.org/resurgent/51More.htm . Moving along, the following is a visual map identifying the world’s most indebted nations (of the so-called economic basket case nations as presented by the World bank in terms of per capita debt). You will please make note that the Dominican Republic is NOT on the list of 40 something countries – this is from April 2001: . http://www.worldwatch.org/pubs/paper/155excerpt.html . The following is an interesting commentary (with more very nice statistics) regarding the widening gap of world incomes and how the World Bank, while offering to help improve the economies of small nations, is really interested in its own agenda. It is also noted (and very interesting) that CHINA has rejected all advice and intervention of both the IMF and World Bank, and seems to now have one of the fastest growing economies at the moment (some say as a result). . http://www.challengeglobalization.org/html/prsp_things.shtml . . As for Panama, quite a few readers have already penned their experiences and opinions, so I need not say more. As for comparing the DR to Kenya or someplace else, I could not say, as I have never been there, which is part of the point as well. Think tank reports are very nice and try to collectively take something intangible and esoteric – with the goal of making it less so. However, the truth is, you should really get out more often. The stereotypes that many people believe are mind boggling – Americans especially. But then again, maybe it is just as well. After all, someone needs to keep paying into the bankrupt social welfare state to keep it moving along. I tend to think that if most Americans REALLY knew what was going on outside of the US, both economically and politically, they would take a hard look at why they continue to live the way they do. However, ignorance is bliss. So, for that, I thank you, the people currently collecting social security thank you and my favorite second grade school teacher who probably will be applying for her government pension very soon thanks you as well. . . Another Reader Writes: . . John - I think you would find this email I received amusing. Sometimes I just hate this country! Of course I can't validate these actually occurred, but I wouldn't be surprised. Litigation - Ain't it sweet! . Subject: Stella Awards - It's time once again to consider the candidates for the annual Stella Awards. The Stella's are named after 81-year-old Stella Liebeck, who spilled coffee on her-self, and successfully sued McDonalds. That case inspired the Stella awards for the most frivolous successful lawsuits in the United States. The following are this year's candidates: . 1. Kathleen Robertson of Austin, Texas, was awarded $780,000 by a jury of her peers after breaking her ankle tripping over a toddler who was running inside a furniture store. The owners of the store were understandably surprised at the verdict, considering the misbehaving little toddler was Ms. Robertson's son. 2. A 19-year-old Carl Truman of Los Angeles won $74,000 and medical expenses when his neighbor ran over his hand with a Honda Accord. Mr. Truman apparently didn't notice there was someone at the wheel of the car when he was trying to steal his neighbor's hubcaps. 3. Terrence Dickson of Bristol, Pennsylvania, was leaving a house he had just finished robbing by way of the garage. He was not able to get the garage door to go up since the automatic door opener was malfunctioning. He couldn't re-enter the house because the door connecting the house and garage locked when he pulled it shut. The family was on vacation, and Mr. Dickson found himself locked in the garage for eight days. He subsisted on a case of Pepsi he found, and a large bag of dry dog food. He sued the homeowner's insurance claiming the situation caused him undue mental anguish. The jury agreed to the tune of $500,000. 4. Jerry Williams of Little Rock, Arkansas, was awarded $14,500 and medical expenses after being bitten on the buttocks by his next-door neighbor's beagle. The beagle was on a chain in its owner's fenced yard. The award was less than sought because the jury felt the dog might have been just a little provoked at the time by Mr. Williams who was shooting it repeatedly with a pellet gun. 5. A Philadelphia restaurant was ordered to pay Amber Carson of Lancaster, Pennsylvania, $113,500 after she slipped on a soft drink and broke her coccyx (tailbone). The beverage was on the floor because Ms. Carson had thrown it at her boyfriend 30 seconds earlier during an argument. 6. Kara Walton of Claymont, Delaware, successfully sued the owner of a nightclub in a neighboring city when she fell from the bathroom window to the floor and knocked out her two front teeth. This occurred while Ms. Walton was trying to sneak through the window in the ladies room to avoid paying the $3.50 cover charge. She was awarded $12,000 and dental expenses. 7. This year's favorite could easily be Mr. Merv Grazinski of Oklahoma City, Oklahoma. Mr. Grazinski purchased a brand new 32-foot Winnebago motor home. On his first trip home, having driven onto the freeway, he set the cruise control at 70 mph and calmly left the drivers seat to go into the back and make himself a cup of coffee. Not surprisingly, the R. V. left the freeway, crashed and overturned. Mr. Grazinski sued Winnebago for not advising him in the owner's manual that he couldn't actually do this. The jury awarded him $1,750,000 plus a new motor home. The company actually changed their manuals on the basis of this suit, just in case there were any other complete morons buying their recreation vehicles. . EDITORS REPLY: I guess all one can say is God Bless America – Land of Lawsuits and Easy Money. . . Another Person Writes: . You are wrong Schroder. If it seems to good to be true, it probably is. In response to your article concerning tax-free businesses on the internet I think you should check US tax code before you convince US citizens that they will not be liable for US taxes because they form an IBC in a Dominican FTZ. A foreign corporation's US-sourced income is taxable at either the US corporate rate or at a flat 30 rate, even if the transaction occurs on a computer located physically in the FTZ. US tax law my not matter to an expatriate, but it will matter when one of your American clients gets audited. How do you get around these laws? I just emailed Roger Gallo with all the tax codes that I'm referring to - ask him to forward the email to you. I loved your article, perhaps a bit vague, but it did touch upon some very exciting possibilities. I'm emailing you only to open conversation on this extremely interesting topic. I want nothing more then to be able to actually do what we are talking about - legally. Please let me know your latest thought. . EDITORS REPLY: Well, I think you for your positive comments about the on-line article. I am not quite sure what you are commenting on, but I will address both possibilities here. . In terms of a US owned or American owned non US Company being liable for US corporate income taxes – you are 100% correct in that the US is one of the few countries in the world to tax it’s citizens and specifically corporate entities on income or revenues earned abroad. Which is exactly why it is very important for US citizens especially to arrange their own affairs in such a way that they do not have a tax liability. In other words, what is the benefit of using a US based Corporation to set up in a free zone, and get for example a 20 year tax exemption in that country, when you are going to end up paying the US government anyway? That is downright foolish, which is why there is a way to do it that makes sense (and why it is very important to forget about using a US incorporated company for ANY non US business venture, if you do not want to taxed to death). . In reply to your direct comments about foreign corporations being forced to pay US income tax on sales or revenues derived from sales inside the US, there are a few things you obviously do not understand (especially when it comes to the mail order industry). Item number one is the litmus test for defining a US business domicile for taxation purposes. Item number two, which is more shall we say social or political, concerns forcing a company in Austria (for example) which already pays up to a 60% corporate income tax rate, to pay an additional 30% to the US Government. What company in their right mind could survive paying income tax to two governments, or more? Or, perhaps it is better to simply buy an American Company, and use the US tax regulations in such a way to send all the profits out of the US, or utilize the tax regulations in more than one jurisdiction to your benefit. Sound like a crazy concept? Well, let us see now – Chrysler and Jeep are now German Companies, Burger King is owned by the British, Fireman’s Fund (one of the oldest US insurance companies) is now foreign owned, Marine Midland Bank is owned by the Chinese (and has been for some time now), Hershey’s could possibly become a Swiss Company very soon, and so on. . . Another Reader Writes: . . Dear Mr. Schroder - I do not know if you receive these on a regular basis, but there are a consistent number of articles that scare the wits out of me. I see no reason to fight the system with these odds. I feel that your advice is correct - just leave. . Article Links as presented by the Sovereign Society News Letter (sent to us by this reader). http://www.sovereignsociety.com . . TIME TO TAME THE TAX POLICE - The US needs a law-abiding IRS commissioner. . http://www.nationalreview.com/nrof_comment/comment-derugy111502.asp . OFFSHORE TAX EVASION ADVISORS SENT TO PRISON - Two are sentenced for 20 years of selling tax evasion schemes. . http://www.nytimes.com/2002/11/16/business/16TAX.html . I.R.S. RULE THREAT TO U.S. ECONOMY - Jack KEMP opposes US banks reporting foreigners interest income. . http://www.empoweramerica.org/stories/storyReader$650 . U.S. ASSET PROTECTION MAY INCREASE - Republican control of US Congress may bring tort reform . http://www.nytimes.com/2002/11/17/business/yourmoney/17TORT.html . GOLD PRICE RISES; HEDGING CUT BACK - Gold's Midas touch leaves financing banks cold. . http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1035873370123 . GERMAN SOCIALISTS IMPOSE CAPITAL GAINS TAX BERLIN: Promises of tax cuts forgotten; 15% CGT planned. . http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1035873370874 . US Defense Department - Information Awareness Office web site. . http://www.darpa.mil/iao/index.htm . Poindexter; One of US Most Powerful. The Guardian Newspaper (UK): . http://www.guardian.co.uk/Archive/Article/0,4273,4358017,00.html . US Hopes to Check Computers Globally. . http://www.washingtonpost.com/wp-dyn/articles/A40942-2002Nov11.html . ACLU Urges Bush to Kill Pentagon Data-Mine Plan: . http://www.reuters.com/news_article.jhtml;jsessionid=YFKVUUN1Z05JUCRBAE0CFFA?type=topnews&StoryID=1743083 . Poindexter's Laboratory – from Reason magazine: . http://reason.com/sullum/111502.shtml . Homeland Security Department Bill - A Super-Snoop's dream: . http://www.washtimes.com/national/20021115-70231.htm . US Rep. Ron Paul: Oppose the Homeland Security Bureaucracy! . http://www.lewrockwell.com/paul/paul61.html . U.K. FOREIGN SECRETARY BLAMES COLONIAL PAST - Straw says British past imperialism gave rise to present world crisis. He did not mention current Labor colonialism imposed on the Channel Islands, the Isle of Man, and the British overseas territories: . http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2002/11/15/nstraw15.xml&sSheet=/news/2002/11/15/ix newstop.html&secureRefresh=true&_requestid=4429 . Labor to chase offshore UK tax evaders with extradition law: . http://www.guardian.co.uk/guardianpolitics/story/0,3605,840425,00.html . Going offshore; here's one British viewpoint: . http://www.realbusiness.co.uk/showdetail.asp?ArticleID=2425 . British Virgin Islands restricts use of IBC bearer shares. . http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1035873377107 . BRITISH REJECT E.U. TAX 'HARMONIZATION - London will not go along with plans for EU-wide taxes. . http://www.tax-news.com/asp/story/story.asp?storyname=10012 . EU Justice Court favors taxpayers over governments. http://www.tax-news.com/asp/story/story.asp?storyname=10003 . IRISH REVENUE TARGETS THE VERY RICH - Suspects include wealthy persons named during Ansbacher-Caymans tax evasion investigation. . http://www.tax-news.com/asp/story/story.asp?storyname=10009 . MONACO: TINY TAX HAVEN KEEPS EXPANDING - A principality's half century of land reclamation. . http://www.timesdispatch.com/frontpage/MGBUXX5CM8D.html . BARBADOS FEARS U.S. ANTI-OFFSHORE POLICIES BRIDGETOWN: Nation has profited from US offshore tax laws. . http://www.barbadosadvocate.com/NewViewNewsleft.cfm?Record=10772 . EDITORS REPLY: Whew. That’s a lot of links. Happy Reading. . . . This information has
been compiled and presented by John Schroder of Ascot Advisory Services,
for the benefit of clients and readers. Ascot Advisory Services provides
assistance with such matters as offshore company formation, Panama Foundations,
offshore banking, and special services in the Dominican Republic regarding
residency, free zone applications, etc. For more information:
|