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Monday, January 23, 2017

Wealthy tax haven-U.S

For long, the government of United States always criticize other countries and regions for a certain convenience in tax evasion as what they made, but in recently years thing have changed that many wealthy prefer to transferring their wealthy into America, it seems like that the traditional tax heaven including Switzerland not be welcome but U.S has become the new wonderland.

The U.S is reportedly rejected to sign and Common Reporting Standards from the OECD caused lots of foreign wealthy regard that states as the new place to hidden their wealth far away from the motherland, many people has been appointed from whether lawyers in London or employees of trust companies in Swiss to help their clients transfer assets from Bahamas, British Virgin Islands and other places into U.S.
Andrew Penney, the editor of Rothschild Europe has hold a lecture to sharing the methods when they want to tax evasion and appointed the have the ability to providing convenience for wealthy people who need transfer wealth to U.S rather than storage in motherland to keep separate from taxation.

And the reason that what people did is the official of U.S lack of ways of overseas wealth taxation and they are uncomfortable doing. And on the May, 2014, Switzerland agree to sign the new Common Reporting Standards from the OECD so as to open the foreign clients banks books to the relevant agencies. It means that the period was ended for Swiss financial institutions keep and safeguarding clients privacy rightfully, at the same time, the private accounts that there have more than 2.2 trillion dollars be pour out to public through legal ways.
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