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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Thursday, September 23, 2004 - Vol. 6 No. 182
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In This Issue:
* COMMENT: U.S. Rejects UN Global Taxes.
* OFFSHORE: Swiss Refund Blocked. Haven Bermuda! Insurance Scam Ended. Hong Kong-China Opening. Gibraltar Snubbed by EU, London.
* WEALTH: More Paid IRS Informants. Brit Tax Reversal. NZ vs. Aussies.
* PRIVACY & RIGHTS: All U.S. Airline Passengers Are Suspects.
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COMMENT: U.S. Rejects UN Global Taxes.
Dear A-Letter Reader:
Over 59 years since its founding, the United Nations may have, on balance, done some good. But objective historians and observers would be hard pressed to create a short list of major UN accomplishments.
More often than not, the UN, spending millions on its own bureaucracy and its endless meetings and reports, has been a waste of time and money; and most of that money has come from American taxpayers.
So you shouldn't be surprised, (especially since we have warned you since 2002), that the UN wants to become an international IRS.
That is, those worthies at Babel on the Hudson want to impose on the already burdened taxpayers of the world, a new round of "global taxes" to finance the UN and its programs. This plan would supplement annual assessments of dues from each nation with direct UN taxes.
In early 2002 we reported about a UN conference held in Monterey, Mexico, that we called "the tax collectors meeting from Hell" where plans were mapped for a UN "international tax organization," a one-world IRS.
So horrendously wrong was this idea that we had hoped it had died a natural death. But no, this week at the UN French President Jacques Chirac called for just such world taxes, this time cloaked in fighting "world poverty." Chirac proposed an international tax be levied on arms sales and some financial transactions in a bid to eradicate poverty. (Are we supposed to forget that billions have been spent for this very goal in recent decades, most of it from the pockets of American taxpayers who finance US foreign aid programs).
Thank goodness Chirac's ideas immediately were strongly rejected by the US delegation to the UN. Speaking for the Bush administration, US Agriculture Secretary Ann Veneman said: "Global taxes are inherently undemocratic. Implementation is impossible". The US also refused to sign or agree to a UN declaration endorsing Chirac's global UN taxes.
We quite agree. We only can hope that this will continue as the US official position after the forthcoming US presidential election. But we guess that depends on who wins.
That's the way that it looks from here.
BOB BAUMAN, Editor
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COMMENT LINKS:
* Chirac in call for global tax.
LINK: http://euobserver.com/?aid=17335&rk=1
* US refuses to sign UN declaration due to tax demands. LINK
http://newstandardnews.net/content/?action=show_item&itemid=1016
* United Nations Seeks Global Tax Authority
http://www.freedomandprosperity.org/Papers/un-report/un-report.shtml
* UN Tax Grab Agenda a Threat to Taxpayers
LINK: http://www.freedomandprosperity.org/2001/un/un.shtml
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* OFFSHORE *
SWISS HAND OVER OF NIGERIAN FUNDS BLOCKED
BERN: Abacha family blocks release of frozen funds. LINK:
http://www.swissinfo.org/sen/swissinfo.html?siteSect=111&sid=5228564
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BERMUDA IS A TAX HAVEN!
HAMILTON: The Finance Minister may reject this quaint idea,
but many citizens voting in a poll say otherwise. LINKS:
http://www.theroyalgazette.com/apps/pbcs.dll/article?AID=/20040921/BUSINESS/109210069
http://www.theroyalgazette.com/apps/pbcs.dll/article?AID=/20040914/BUSINESS/109140070
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BARBADOS HELPS END OFFSHORE INSURANCE SCAM
Investigators stop insurance fraud scam based in St. Vincent. LINK:
http://www.barbadosadvocate.com/NewViewNewsleft.cfm?Record=18753
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HONG KONG MORE OPEN TO CHINA INVESTMENTS
Mainland firms HK investment rules eased.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17343
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GIBRALTAR SEES SNUB BY LONDON ON EU AGENCY
Gibraltar excluded from new European borders agency.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17329
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* WEALTH *
PAID INFORMERS TO COMBAT RICH TAX EVASION?
Senator wants to pay more informants to turn in tax scofflaws. LINK:
http://www.wcnc.com/sharedcontent/business/yip2/092104ccjccwBizPamYip.13b71b208.html
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U.K. REVERSES POLICY ON TAX
LONDON: U-turn over gift and loan trust taxation.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17355
* UK lawyers in showdown over abusive tax shelters. LINK:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/09/22/cnlaw22.xml
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NEW ZEALAND TARGETS AUSTRALIAN BANKS
AUCKLAND: NZ banks owned offshore by Australians hit with tax.
LINK: http://www.stuff.co.nz/stuff/0,2106,3040872a11,00.html
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* PRIVACY & RIGHTS *
U.S. GOVERNMENT BENT ON VIOLATING AIR PRIVACY
Anyone who flies on a plane is treated as terrorist suspect.
LINKS: http://www.nytimes.com/2004/09/22/politics/22secure.html
http://www.washingtonpost.com/wp-dyn/articles/A38578-2004Sep21.html
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte, Jr. Editorial Asst.
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