Offshore Business Centres: A World Survey

Offshore Business Centres: A World Survey

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by Milton Grundy, Conrad McDonnell
     
 
Formerly "Grundy's Tax Havens", this is an extensive account of international tax planning. It considers each jurisdiction separately with discussion on climate, currency, political stability, exchange control and the financial services available.

Overview

Formerly "Grundy's Tax Havens", this is an extensive account of international tax planning. It considers each jurisdiction separately with discussion on climate, currency, political stability, exchange control and the financial services available.

Product Details

ISBN-13:
9780421585904
Publisher:
Sweet & Maxwell, Limited
Publication date:
01/01/1997
Pages:
222

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Offshore Business Centres: A World Survey 5 out of 5 based on 0 ratings. 1 reviews.
Guest More than 1 year ago
Grundy & Nathan paint an extensive and detailed picture here of international tax planning with the eighth edition of `Offshore Business Centres¿. They consider each jurisdiction in Part 1, from Anguilla to Vanuatu, setting out a discussion of the financial services available in each location. Both authors provide a useful coverage of the legislation and workings of each offshore jurisdiction, and they explain, in some detail, how each location functions in relation to different vehicles and structures. Part 2 is a shorter section devoted to four relevant talks given to the International Tax Planning Association covering: `The OECD and the Offshore World¿, `Tax Information Exchange Agreements¿, `Holding Companies in Europe: An Overview¿, and `The Smith Story¿ together with a list of the advisory panels in the various locations at the back. Since the previous edition in 1997, much has happened in the offshore world in what the authors describe as the `long and sometimes acrimonious battle between the pros and the antis¿ of offshore activity. The main change in this edition is the evaluation of the amount of regulatory activity now taking place in a ¿globalised¿ financial industry which needs zero-tax or low-tax jurisdictions as locations for hedge funds and other activities. The book succeeds admirably here with its main aim of setting out the heavy detail of what each location has to offer the tax planner. STRUCTURE OF THE BOOK Although only 300 pages long, this heavily laden work covers the following in great detail and will be relevant to lawyers and financial advisers with its unrivalled expertise in: ¿ offering a complete study of relevant tax regimes and offshore investment opportunities, so that practitioners can advise clients on the tax benefits of using offshore business centres ¿ outlining the legislative systems in 51 offshore business centres, allowing a comparison of the advantages of each and showing how they differ from one another and ¿ referring to recent legislation, tax treaties and information exchange agreements, ensuring that practitioners have the most up-to-date and accurate reference sources and resources when advising clients. Experienced practitioners have written each jurisdiction chapter from within that jurisdiction to make sure that all the published details are completely accurate. Dubai, Australia and the United States have been added as new jurisdictions to the eighth edition. Grundy & Nathan give practitioners an understanding of the complex intricacies of the different offshore jurisdictions covered here. The book is an important aid international tax planning which states, in each location, the local treatment of income and CGT and the use of tax treaties. With the rich and very rich growing in numbers, the offshore industry appears to be flourishing although, as the authors say, `anything resembling a statistic is rare indeed¿! There are updates to any changes which take place in legislation in the territories covered since the seventh edition, and many new tax treaties and information exchange agreements are explained. This book says, in its introduction, that it is for information purposes and does not constitute legal advice. However, in its own way, the book is an indispensible and complex financial advice handbook which succeeds in its purpose of putting detailed information on offshore business centres in a wider context of the individual countries¿ tax systems, and they are spot on here. Phillip Taylor MBE. Barrister-at-Law