10/11/2009
Some offshore financial centres risk losing business amid tax haven scrutiny
Channel NewsAsia has reported that Industry players said some offshore financial centres face the risk of losing business as developed economies increase their scrutiny on jurisdictions perceived as hiding places for money.
James Benoit, CEO, Afrasia Bank, is quoted. "Centres which don't have those natural trading ties and investment flows will find it very difficult to be known as a centre of substance. There's no choice but to be more substantial, adherent to regulations and being more than just a booking centre." , he said.
18:40 Posted in General | Permalink | Comments (1) | Email this
Comments
Lots of crack downs lately. Guess for some it's worth it to try to get away with something. Seems like the big companies are more likely to try to get away with something, or perhaps they are just more likely to get caught. Tough call.
Posted by: dolphin hosting | 10/14/2009
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