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Tax and Jurisdictions

April 1, 2009

The French government has named family-controlled tyremaker Michelin as one of three businesses it wants to investigate for alleged tax fraud.

The French government has named family-controlled tyremaker Michelin as one of three businesses it wants to investigate for alleged tax fraud. The investigations will focus on banks accounts and foundations that French newspapers are reporting are held in Liechtenstein by Michelin, oil giant Total and sportsbrand Adidas.

March 26, 2009

If you believe the OECD’s rhetoric, tax havens are about to collapse like a house of cards before the onslaught of a G20 determined to retrieve untold trillions of lost revenue. However, the death of tax-efficient jurisdictions and their historic rules on confidentiality is greatly exaggerated.

If you believe the OECD's rhetoric, tax havens are about to collapse like a house of cards before the onslaught of a G20 determined to retrieve untold trillions of lost revenue. After a string of European states including Austria, Luxembourg, Andorra, Liechtenstein and Switzerland agreed to exchange information more freely, OECD director-general Angel Gurria, described this as "an important moment in the history of international tax cooperation."

March 12, 2009

The Liechtenstein government has bowed to international pressure and accepted OECD standards on transparency and information exchange in tax matters. In a declaration, it also confirmed it will support international measures against non-compliance with tax laws.

The Liechtenstein government has bowed to international pressure and accepted OECD standards on transparency and information exchange in tax matters. In a declaration, it also confirmed it will support international measures against non-compliance with tax laws.

The tiny European country, which has a total population of just over 35,000, is run by the Princely House of Liechtenstein, one of the continent's oldest noble families.

February 26, 2009

Offshore centres around the world are being vilified by the OECD and the EU, but what are the facts?

In October 2008, the Organisation for Economic Cooperation and Development (OECD) renewed its campaign against offshore financial centres before, in November, the European Commission announced plans to extend its savings tax directive.

Although some offshore centres have adopted a wait and see attitude to these developments, others have already expressed anger at the potential threat to their financial services industries. Cayman and Switzerland have been among the most vocal.

February 19, 2009

Banking giant UBS has done a deal with the US Department of Justice whereby it will escape prosecution in exchange for handing over the details of an undisclosed number of its wealthy American clients who it believes have committed tax fraud.

Banking giant UBS has done a deal with the US Department of Justice whereby it will escape prosecution in exchange for handing over the details of an undisclosed number of its wealthy American clients who it believes have committed tax fraud.

The DoJ had previously accused the Switzerland-based bank of conspiring to defraud the US by helping 17,000 Americans hide accounts from the Internal Revenue Service.

October 7, 2008

Ogier, a provider of offshore legal and fiduciary services, is launching a new personalised wealth planning service to ultra high net worth individuals and family businesses.

Ogier, a provider of offshore legal and fiduciary services, is launching a new personalised wealth planning service to ultra high net worth individuals and family businesses.

Branded Ogier Private Wealth, it will provide a wide range of tailored solutions including the establishment and on-going administration of trusts and private trust companies, the creation and administration of employer-funded structures, real estate advice and the formation and administration of investment funds - particularly in the area of private funds.

October 7, 2008

Investment Professionals (IPRO) has been managing family portfolios in the Indian Ocean and Sub-Saharan African regions since 1992.

Discretionary portfolios exceed US$200 million, with an international client base from Europe, Africa and Mauritius.

Investment Professionals (IPRO) has been managing family portfolios in the Indian Ocean and Sub-Saharan African regions since 1992.

Discretionary portfolios exceed US$200 million, with an international client base from Europe, Africa and Mauritius.

October 6, 2008

With property markets in freefall, where does this leave the family estate asks James Moore

With the global economy in a pronounced downswing, the seemingly never-ending rise in real estate values across the world has, in many economies, come to a juddering halt and gone into reverse writes James Moore.

October 6, 2008

Private family offices are increasingly being called upon to manage tangible personal property and art collecting has come to be viewed as a legitimate asset diversification strategy.

Private family offices are increasingly being called upon to manage tangible personal property and art collecting has come to be viewed as a legitimate asset diversification strategy writes Suzy Peterfriend Ross. Certain categories, contemporary art in particular, are currently outperforming other more traditional investment options.

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