============================================
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Tuesday, October 14, 2003 - Vol. 5 No. 121
============================================
In This Issue:
* COMMENT: That Level Playing Field
* OFFSHORE: Billions of Arab Cash in Jersey. UK Revenue Targets Hidden Offshore Funds. Scott Offshore Landowners Investigated. New Zealand Entices Returnees with Tax Breaks.
* WEALTH: Gold Gets New Interest. Invest in Russia? UK Pensions.
* PRIVACY & RIGHTS: Bush Wants More Patriot Powers. Canada Wants Lawyers to Be Spies. Snoop Software. Offshore Voting Rights. Finland Duals. UK ID Card May Be Dead.
============================================
* ADVERTISEMENT *
Make 9 Times Your Money In A Free Iraq
Imagine making the one great investment that you always wanted to make. The kind that can help you recover what you lost in the Tech Crash. The kind that can put your kids through college. This investment is the kind that could help you safely turn $5,000 into $45,000, but you have to act fast. To find out more, go to...
LINK: http://www.agora-inc.com/reports/DRI/GreatRewards/
============================================
COMMENT: That Level Playing Field
Dear A-Letter Reader:
For several years now we have been commenting on the Organization for Economic Cooperation and Development's attempt to destroy tax competition among nations. The OECD, the PR mouthpiece for the major welfare socialist nations, wants to abolish tax havens and low taxes everywhere, to be replaced by uniform high taxes and an end to all financial privacy. Some have labeled this the OECD "high tax cartel."
As an inducement to low tax nations that offer tax breaks for foreign investors, the OECD asked for signed commitments to weaken their attractive tax and privacy laws, but explicitly stated the commitments were binding only if all OECD nations agreed to the same flawed tax rules. This is the famous "level playing field" guarantee -- all would agree or none would be bound to end tax competition.
This level playing field promise created major problems for the OECD since its member nations, including the US, UK, Luxembourg and Switzerland, are themselves tax havens. Add to this the European Union's so-called "savings tax directive," which also sought uniform taxes and information exchange, lies is in tatters. Belgium, Luxembourg and Austria have been exempted from the directive's information exchange provisions, and non-EU member Switzerland is wary of any such agreement that might compromise its banking secrecy.
The OECD "tax harmonization" campaign has been a farce from the beginning. But one that might have seriously compromised healthy tax competition, had it now fallen under its own grotesque weight.
We think any tax haven that may have committed to the OECD should, as Panama has done, end their past commitment and acknowledge the facts -- there is no level playing field and that tax competition is a positive international good to be expanded, not ended.
That's the way that it looks from here.
Bob Bauman, Editor
============================================
COMMENT LINKS:
* CFP Strategic Memo on Level Playing Field. LINK::
http://www.freedomandprosperity.org/memos/m10-10-03/m10-10-03.shtml
* OECD Split Threatens Tax Evasion Plans.
LINK:http://www.tax-news.com/asp/story/story.asp?storyname=13653
* Money flowing into Asian, other emerging markets. LINK:
http://www.thestandard.com.hk/thestandard/news_detail_frame.cfm?articleid=42460&intcatid=1
============================================
DUE DILIGENCE: We recommend you attend Offshore Alert's Due Diligence
& Asset Recovery Symposium: More Information at
LINK:http://www.kycnews.com/03agenda.htm
Brochure at LINK:http://www.kycnews.com/brochure.pdf.
Or call Offshore Alert in Miami, Florida 1 305-372-6296.
============================================
* OFFSHORE *
JERSEY HOLDS MASSIVE ARABIAN GULF FUNDS
ST. HELIER: Financial institutions on this Channel Island
£40 billion (US$67 billion) in Arabian Gulf funds. LINK:
http://www.tax-news.com/asp/story/story.asp?storyname=13651
-----
U.K. TAX COLLECTORS TARGET OFFSHORE FUNDS
LONDON: Revenue 'hitmen' target billions hidden in offshore havens.
LINKS:http://www.timesonline.co.uk/article/0,,5-852336,00.html
(scroll down)http://www.onbusiness.ie/2003/1013/presswatch.html
-----
SCOTTISH GOVERNMENT TARGETS OFFSHORE LANDHOLDERS
GLASGOW: Clampdown on owners titling land in offshore entities.
LINK:http://www.sundayherald.com/37440
-----
NEW ZEALAND TAX BREAKS FOR RETURNEES
AUCKLAND: Wealthy migrants can return without being taxed.
LINK:http://www.stuff.co.nz/stuff/0,2106,2687877a11,00.html
============================================
* ADVERTISEMENT *
Enjoy Personal and Corporate Asset Protection - For 54 Cents a Day!
As a small business owner you have a 1 in 3 chance of being sued this year
(based on the 21 million lawsuits launched last year). But what you may not
be aware of... is that an even graver risk faces you today... one no one has
warned you about... If you've slipped up on a seemingly minor corporate
"technicality" your corporate veil could be pierced... and the personal
liability protection and the tax benefits you receive through owning a
corporation could be wiped out overnight. 80% of small business owners
unknowingly face this danger today... To find out about a revolutionary
new way to protect yourself that costs only 54 cents a day click here.
LINK:http://www.agora-inc.com/reports/190SCORE/W190DA08/
============================================
* WEALTH *
NEW GLAMOUR FOR AN OLD-FASHIONED ASSET: GOLD
Highest price since 1996; more interest than for 20 years. LINK:
http://www.nytimes.com/2003/10/12/business/yourmoney/12gold.html
-----
RUSSIA COMES IN FROM THE COLD
Just 5 years after Russia defaulted on foreign debt, it's upgraded to
"investment grade" by Moody's. But are Russian assets a fit home
for the savings of widows and orphans? LINK:
http://www.economist.com/agenda/displayStory.cfm?story_id=2121865
-----
BRITISH PENSION BATTLE CONTINUES
LONDON: Fight for offshore expats' pension increases
now taken up by Australia. LINK:
http://www.telegraph.co.uk/global/main.jhtml?xml=/global/2003/10/13/npen13.xml&sSheet=/global/2003/10/13/home.html
============================================
* PRIVACY & RIGHTS *
BUSH CONTINUES PUSH FOR MORE POLICE POWERS
Battle over Patriot Act II expected to be heated.
LINK:http://www.foxnews.com/story/0,2933,99808,00.html
* ACLU sees push for PATRIOT II piecemeal in US Congress. LINK:
http://www.aclu.org/SafeandFree/SafeandFree.cfm?ID=14001&c=206
-----
CANADIAN LAWYERS FIGHT FOR CONFIDENTIALITY
Government wants lawyers to serve as police spies. LINK:
http://www.globeandmail.com/servlet/ArticleNews/TPStory/LAC/20031013/PFLAUN13/TPBusiness/General
-----
SECRET SNOOP SOFTWARE PRIVACY THREAT
Is there no computer privacy left anywhere?
LINK:http://www.nytimes.com/2003/10/10/technology/10SPY.html
-----
OFFSHORE EXPATS SEEK VOTING RIGHTS
Switzerland, other nations plans offshore voting systems. LINK:
http://www.swissinfo.org/sen/swissinfo.html?siteSect=105&sid=4314932
-----
FINLAND offers dual citizenship; very few interested.
LINK:http://ww2.yle.fi/pls/show/page?id=232902
-----
U.K. ID CARD PLAN MAY BE DEAD
LONDON: Leak documents show ID plan unworkable, costly.
LINK:http://www.theregister.co.uk/content/6/33348.html
============================================
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. *
Bob Bauman, Editor * Daniel Aponte, Jr. Research Asst.
SUBSCRIBE to The A-Letter FREE or send to a friend at
LINK: HOME
Please DO NOT respond DIRECTLY to THE A-LETTER.
Send E-mail to:INFO@THESOVEREIGNSOCIETY.COM
============================================
The A-Letter provides accurate information on the subject matter
covered and advertisements displayed, so far as we can ascertain.
We cannot certify the absolute accuracy of referenced articles nor
do we necessarily endorse products advertised herein.
============================================
THE SOVEREIGN SOCIETY Ltd., 5 Catherine St., Waterford, Ireland
TEL: 353-51 844 068 FAX: 353-51 304 561
Copyright (C) 2003. All domestic & international rights reserved.