Latest News for: Offshore financial wealth
Independent online (SA)
23 Feb 2021
When this contract is broken through financial misappropriation and corruption, there is a risk that tax collections will dwindle ... Wealth tax ... To date, Sars has recorded more than R400bn in financial assets in offshore investments ... Should the National Treasury implement a wealth tax, it cannot – should not – be done without the endgame in mind.
04 Feb 2021
The full magnitude of the problem is unknown because of entrenched financial secrecy. The use of ‘offshore’ structures allows the real ownership, location and very existence of wealth to remain hidden, in turn creating fertile ground for tax evasion and avoidance.
01 Feb 2021
As American philosopher Henry David Thoreau observed, wealth is the ability to fully experience life ... To make your wealth work for you both onshore and offshore, Citigold ticks all the right boxes. Moreover, it is the gold standard for personalised wealth solutions to meet your financial goals ... Wealth solutions.
12 Jan 2021
Additionally, a large share of the real estate, yachts, racehorses, gold bricks and many other assets that count as non-financial wealth are also owned via offshore structures that make it impossible to identify their owners.
Las Vegas Review-Journal
28 Dec 2020
Sen. Rand Paul, R-Ky. (AP Photo/J. Scott Applewhite) ... Sen ... ■ U.S ... A February World Bank report concluded that “aid disbursements to highly aid-dependent countries coincide with sharp increases in bank deposits in offshore financial centers known for bank secrecy and private wealth management, but not in other financial centers.” ... .
26 Oct 2020
... that some of his wealth, which is managed by a so-called blind trust, could be held in offshore tax havens ... The financial transparency campaigners have also called on the chancellor to be categorical on the question of whether any of his wealth is sheltered in offshore tax havens.
23 Oct 2020
“At the initial stage, available wealth management products will cover non-complex products with medium to low risk.” ... Hong Kong’s Chief Executive Carrie Lam has been lobbying for more financial integration to build the city’s presence as a hub for private wealth and as a prominent offshore yuan center.
22 Oct 2020
Hong Kong has sought to reassure investors it will remain a stable place after the introduction of the law, with Chief Executive Carrie Lam lobbying for more financial integration to build the city’s presence as a hub for private wealth and as a prominent offshore yuan center.
04 Oct 2020
Policymakers in Beijing are plowing ahead with measures to ensure Hong Kong continues to play its role as the offshore financial center of the Greater Bay Area. The so-called Wealth Management Connect, for example, was announced in June, allowing residents in Hong Kong, Macao, and Guangdong to invest across the border.
31 Aug 2020
The use of front companies and offshore structures can be used to conceal beneficial ownership of assets and relationships with mainstream financial institutions, and though offshore structures in and of themselves are not illegal, they are often used to hide wealth (whether obtained legitimately or not), launder money or evade taxes.
13 Aug 2020
He said it was unfair that ordinary Russians had to pay tax at 13%, while the wealthy owners of corporations paid a fraction of that when exporting their wealth offshore,” said Oliver Bullough, a journalist specializing in financial crime and author of the bestseller Moneyland.
26 Jul 2020
... and asset management center” or a “yuan-related wealth management center.”. Since last year, the Financial Supervisory Commission has been working on deregulating offshore banking units and allowing more new products in financial institutions’ wealth management portfolios.