I found the following on the web pages of Mutual Trust:
The tax authorities of the major industrial nations have become more sophisticated and their governments are hungry for revenues. The tax authorities increasingly exchange information with each other although they compete against each other for revenues too.
Countries like the United Kingdom have passed legislation intended to deal with the terrorist threat that has been used for other purposes. The definition of money laundering within this legislation has been used to make lawyers and accountants informants against their legitimate clients. No longer can a UK person discuss his tax affairs in confidence with his lawyer or accountant.
Certain banks in respected jurisdictions have passed information on depositors from the UK to the Inland Revenue because of these laws.
All these changes require high net worth clients to consider the structuring of their assets with great care. The traditional offshore jurisdictions have come under increasing pressure. We had subsidiaries in some of these jurisdictions and elected to sell them. We have refocused our business on countries offering tax efficiency and confidentiality.
I also noted that they say: (I have deleted bits where dots are marked, but they don't change the meaning)
What is profoundly worrying is that the paranoid purveyors of this nonsense are members of Horwath International. They're the international partners of Clark Whitehill, They're the 18th biggest firm of accountants in the UK I think they might like to choose their associates with more care. They might even like to remind some of them that tax evasion is money laundering, and that's a crime. And if you're not tax evading no one needs secrecy. That follows like night does day.
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