This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
Vanuatu Must Hand Over Evidence To Australia In Tax Probe,
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, August 05, 2008
An attempt to stop evidence gathered in a tax evasion investigation being sent
back to the authorities in Australia has been thwarted by the Court of Appeal
in Vanuatu.
The evidence was gathered by officers of the Australian Federal Police during
raids on financial institutions, as part of a wider crackdown by Australia against
offshore tax evasion under the banner of Project Wickenby. The Australian authorities
are focusing in particular on the activities of one tax scheme promoter based in
Perth, Western Australia, who was arrested in April.
The Australian Taxation Office (ATO) is also conducting 80 audits examining
allegedly false tax deductions exceeding AUD90mn (USD84mn) in connection with
the Vanuatu probe.
Earlier in the year, Australian and international agencies conducted operations
across three countries to attack abusive tax evasion schemes linked to Vanuatu,
and Australian Tax Commissioner Michael D’Ascenzo issued a warning that
people who use offshore structures to generate false deductions "or to
deliberately hide assets or income in tax havens like Vanuatu can face serious
penalties including criminal prosecutions.”
The issue has caused divisions in the Vanuatu government. The Financial Services
Authority (FSA), has been keen to cooperate with the Australian and other international
agencies in the investigation, and supports proposals to overhaul financial
services legislation by the end of the year to make the jurisdiction less 'secretive.'
Certain ministers such as Finance Minister Wille Jimmy, on the other hand, are
aghast at the government's appeasement of the onshore authorities, and have
warned that the changes will spell the end of Vanuatu as an offshore financial
centre, which has come to play an increasingly important role in the Pacific
nation's economy.
In a statement issued at the time of the Australian raids, Mr Jimmy said that
this course of action would constitute a "huge blow" to Vanuatu's
economy, and would effectively end its status as a 'tax haven.'
George Andrews, head of the Vanuatu FSC, has countered, however, that it is
no longer desirable for Vanuatu to remained labeled as a "tax haven,"
telling the Australian newspaper that the jurisdiction has "been associated
with this stigma for a long time."
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
Advertising & Marketing
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising,
sponsorship and marketing opportunities:
Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Could your corporate web-site or newsletter benefit
from incorporating regularly updated news and content
tailored to serve your clients' interests? We can provide
a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
Click here for a brief introduction
to RSS and instructions on how to get the Tax-News feed.
IMPORTANT NOTICE: THE LOWTAX NETWORK has
taken reasonable care in sourcing and presenting the information contained on
this site, but accepts no responsibility for any financial or other loss or damage
that may result from its use. In particular, users of the site are advised to
take appropriate professional advice before committing themselves to involvement
in offshore jurisdictions, offshore trusts or offshore investments. All materials
on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact
us for further information.
TAX-NEWS.COM
Free Tax-News Feed