“The British Virgin Islands’ leader said Tuesday that the Caribbean territory with a major offshore financial sector has started talks with the U.S. Treasury to comply with a law designed to crack down on offshore tax evasion. The territory of roughly 30,000 people near Puerto Rico is one of the world’s top offshore trust jurisdictions and the nominal home to more than 500,000 companies. It provides incorporation registries so global businesses can claim they are based on the islands and effectively sidestep taxes in countries where their work is performed. Premier Orlando Smith told reporters that his administration is negotiating an ‘intergovernmental agreement’ with Washington.”
Related posts:
Feds to Bal Harbour: Hand over seized drug loot
Swisscom boss pledges data is safe
Rand Paul: The President Doesn't Get To Write Legislation, It's Illegal And Unconstitutional
Bitcoin Comes To Overstock After CEO Locks 40 People In A Room
DreamWorks plans $3.2 billion China tourist attraction
Japanese cult fugitive given runaround as he tried to surrender [2012]
Greece's great fire sale
Visitors flock to Pakistani-controlled Kashmir valley in rare tourist boom
Greek police report riot at immigrant detention camp
Librarian wants to ban 5-time reading champ from contest
Anti-government protests continue in Istanbul: 'Government, resign!'
Homeland Security tracks down 400-page diary of Nazi leader and Hitler aide
Australian Train Drivers, Paid Like U.S. Surgeons, Replaced With Robots
Vodafone reveals existence of secret surveillance wires
Egyptian court orders Al Jazeera and other news outlets to close down