Saturday, September 12, 2009

UAE Offshore differentiating parameters

So what is the difference?
Other jurisdictions around the globe have become ‘tax havens’ by design.
Over the years governments have allowed various locations within their sovereignty to offer ‘tax havens,’ as a form of ‘shelter,’ therefore offering a facility for wealthy individuals or corporate clients to ‘move’ their finances away from tax authorities. An army of pin striped, suited lawyers or city accountants would work to protect their clients from the payment of taxes, by moving their interests to ‘tax havens,’ designed for this purpose.

Choose your NEW jurisdiction with care...

Always be mindful when choosing your new ‘tax haven,’ as many jurisdictions have now been ‘redesigned’ and do not offer the security that they once provided.

Safety and security.
In the G20 Summit held in February 2009, there has been a crackdown on non – cooperative tax havens, forcing major companies to look for safer, yet more pragmatic locations to carry out their future business operations. It is important to note that, in accordance with the latest international best business practices, the UAE is NOT black or gray listed from any international organization such as the Organization for Economic Cooperation and Development (OECD) and the Financial Action Task Force (FATF.)

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