Archive | August, 2004

Bank denies it aided Saddam

Treasury claims cash laundered in Belarus; Cyprus under suspicion MINSK, BELARUS – Infobank, a privately owned bank in Belarus, denied U.S. charges it laundered funds for the former Iraqi regime of Saddam Hussein, saying it always followed international agreements “to the letter.” The U.S. Treasury said last week that Infobank “laundered funds for the former […]

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Offshore treasure chest

By Jim Dickins – THE Australian Tax Office will investigate hundreds of secret Swiss bank accounts and exotic tax havens this year in a blitz on offshore tax evasion. The campaign could affect everyone from retirees earning income from a foreign pension to corporate criminals. In the wake of scandal surrounding disgraced stockbroker Rene Rivkin’s […]

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Californian Assembly Blocks Move To Increase Tax For Offshore Firms

By Mike Godfrey – Republicans in the Californian State Assembly have succeeded in blocking a bill that would force offshore-based US firms to pay full state taxes. The bill, sponsored by Democratic Assemblywoman Judy Chu, would prohibit expatriate companies with at least 80% of their assets in the United States from using existing tax breaks […]

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Treasury Employs USA PATRIOT Act Authorities

Designates Two Foreign Banks as “Primary Money Laundering Concerns” In another step to protect the integrity of the U.S. financial system and identify rogue financial institutions, the U.S. Department of the Treasury today designated two foreign banks – First Merchant Bank of the “Turkish Republic of Northern Cyprus” (“TRNC”) and Infobank of Belarus – as […]

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California Tax bill narrowly fails

By Lilla Zuill – A bill from ‘Golden State’ legislators that aimed to make companies that move offshore to so-called ‘tax havens’, including Bermuda, pay full California taxes was narrowly shot down last Thursday. But it could come up again this week. Democratic assemblywoman Judy Chu put forward the bill but it was rejected on […]

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The smart money is offshore

By Mark William – LAST week I attended an investment market seminar at the GrandWest Casino. The venue was very appropriate, considering the current uncertainty in world markets. The odds of picking the top performing investment over the next 12 months are similar to those offered by a roulette table. In roulette, gamblers must decide […]

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Investor Strategy for Brazil

By Bill Cara for the Trader Wizard – In the first three parts of this series, I organized the 34 Brazilian stocks that trade on the New York Stock Exchange, first in order of their market capitalization, then in their industry sector group. Then I gave you some brief comments to say that the stock […]

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European Hedge Funds Set To Grow Despite Regulatory Concerns

By Phillip Morton – Whilst optimistic on growth and performance prospects, many European hedge fund managers remain concerned over regulatory issues surrounding the industry in the region, according to a new report. The report by research firm Datamonitor, found that around 39% of wealth managers in Europe cite regulatory issues as a likely obstacle to […]

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Every (Offshore) Vote Counts

By Jeff Fleischer – Since the 2000 presidential election, both parties have stressed the notion that every vote counts. As a result, get-out-the-vote efforts have stretched beyond America’s borders, targeting U.S. citizens living overseas. Reaching out to expatriate voters is an inexact science. Without census data, the number of American citizens living overseas is estimated […]

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Bush Eyes a Consumption Tax

By Lee Walczak and Richard S. Dunham – The notion of replacing the current code with a national sales tax is worth a hard look, the President says Normally, “Ask President Bush” campaign events are rather sedate affairs, thanks to the White House advance staff’s skill at packing the hall with GOP partisans who coo […]

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