You Can Run But You Can'T Hide

[belizeisok]

It seems to me there are some definite catch-alls in the proposals?
Jersey To Revise Due Diligence Requirements
by Jason Gorringe, Tax-News.com, London
24 November 2011

The Jersey Financial Services Commission has launched a consultation on proposals to amend the Money Laundering Order 2008 and the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CTF) Handbook to revise customer due diligence requirements.

According to the JFSC, the Consultation Paper has been launched ahead of a wider review of the basis for, and scope of, customer due diligence concessions in the Money Laundering Order that will take account of the imminent revision to international standards set by the Financial Action Task Force.

According to the JFSC, proposals in the Paper will:

Clarify the additional customer due diligence measures that must be taken when a relationship with a customer is established remotely - where the customer is not seen - and money laundering and terrorist financing risk is considered to be higher than the norm;
Provide additional guidance on identifying countries which may be considered to present a higher risk of money laundering or terrorist financing;
Specify some additional due diligence measures to be applied where a customer has a connection to Iran or North Korea, and where a customer is considered to present a higher risk as a result of a connection to Bolivia, Burma (Myanmar) Cuba, Ethiopia, Kenya, Nigeria, São Tomé & Príncipe, Sri Lanka, Syria and Turkey; and,
Extend the circumstances in which it may be appropriate to simplify customer due diligence measures because the risk of money laundering or terrorist financing occurring is considered to be less for a particular customer, product or service.

[LiftTheFog]

I don't think many people have considered Jersey a destination when looking for privacy or tax heavens for a very long time.

[belizeisok]

Originally Posted by LiftTheFog

I don't think many people have considered Jersey a destination when looking for privacy or tax heavens for a very long time.

YOU DON'T THINK.....but the evidence clearly points to a different conclusion.It may not be the flavor of the day.TG posts do not determine what is truly being used for tax strategies.


Counting the cost of tax havens Ben Butler
November 26, 2011.


TAX evasion - which costs Australia $41.4 billion a year - is the cause of the Greek debt crisis that is destabilising Europe, according to the author of research into the problem.

Every year tax evasion costs the world's governments $3.1 trillion, or about 5.1 per cent of world gross domestic product (GDP), activist group the Tax Justice Network says in a report.

''Greece's problems stem from 40 years of tax evasion and not collecting enough tax revenue,'' TJN director John Christensen told BusinessDay.

The TJN claims criminals, dictators, the rich and big corporations have hidden trillions of dollars in tax havens such as Jersey, the tiny Channel Island where Mr Christensen was born.

The organisation is pushing for automatic information exchange between tax havens and tax authorities, the full disclosure of who owns companies, and country-by-country income tax reporting for multinational corporations


The TJN claims criminals, dictators, the rich and big corporations have hidden trillions of dollars in tax havens such as Jersey, the tiny Channel Island where Mr Christensen was born.

The organisation is pushing for automatic information exchange between tax havens and tax authorities, the full disclosure of who owns companies, and country-by-country income tax reporting for multinational corporations.

Mr Christensen admitted there might be ''very, very restricted'' cases when a company might legitimately use a tax haven to avoid paying tax on the same income twice, in two countries.

''It's not about double taxation, it's about double non-taxation, in the majority of cases,'' he said.

He said he spoke from his experience working in Jersey for Touche Ross, which is now part of accountancy firm Deloitte.



5

[GoldenFleece]

Originally Posted by belizeisok

Counting the cost of tax havens Ben Butler
November 26, 2011.

TAX evasion - which costs Australia $41.4 billion a year - is the cause of the Greek debt crisis that is destabilising Europe, according to the author of research into the problem.

Right. It is not out-of-control spending by social welfare states, it is a lack of money from those who produce to the lazy parasites of society (which includes not just those on the dole, but government and union workers).

When the U.S. broke away from the UK, its Declaration of Independence listed this among and the causes of the rebellion and the grievances against King George III:

"He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance."

This describes every social welfare state today, including the creeping socialism in the U.S.

[belizeisok]

Originally Posted by GoldenFleece

Right. It is not out-of-control spending by social welfare states, it is a lack of money from those who produce to the lazy parasites of society (which includes not just those on the dole, but government and union workers).

When the U.S. broke away from the UK, its Declaration of Independence listed this among and the causes of the rebellion and the grievances against King George III:

"He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people and eat out their substance."

This describes every social welfare state today, including the creeping socialism in the U.S.

Must say i agree 100%.The 'creep' is prevalent in most societies today.We call it sucking on the teet of life where i come from

[GoldenFleece]

Originally Posted by belizeisok

Must say i agree 100%.The 'creep' is prevalent in most societies today.We call it sucking on the teet of life where i come from

More like sucking on the teat of socialism.

[Mannbiz]

Originally Posted by GoldenFleece

Right. It is not out-of-control spending by social welfare states, it is a lack of money from those who produce to the lazy parasites of society (which includes not just those on the dole, but government and union workers).

"Lazy Parasites"? This is what you call people who are unfortunate not to have employment at a particular moment in time? Words fail me.

[GoldenFleece]

Originally Posted by Mannbiz

"Lazy Parasites"? This is what you call people who are unfortunate not to have employment at a particular moment in time? Words fail me.

I know that words fail you. You do not seem to have command of the English language. "Lazy Parasites" means exactly what it says: Those capable of work but who chose not to work, choosing instead to live off the toil of those who do work, i.e., professional freeloaders. It obviously does not include widows, orphans, the disabled, and the short-term unemployed who are looking for work.

Every social welfare state has such "lazy parasites." During the UK riots some months ago, there were newspaper articles about the rioters -- including the fact that many had lived on the dole their entire lives and never held a job.

Is there some reason that you have chosen to become a troll on this forum?

[P.G]

Originally Posted by Mannbiz

"Lazy Parasites"? This is what you call people who are unfortunate not to have employment at a particular moment in time? Words fail me.

'Lazy Parasites' is different from 'down on your luck'

[P.G]

Originally Posted by belizeisok

YOU DON'T THINK.....but the evidence clearly points to a different conclusion......

Every year tax evasion costs the world's governments XXXX....... the "Tax Justice Network" says in a report.

It only "costs" them if they collect it then have it taken from them!

If they never recieve it they should not be spending it!

It's not rocket science, it's called overspending your actual budget.