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Offshore Tax Haven's Days Numbered with Recent OECD Agreements

Category: Real estate, Posted:31 Mar 2009 | 09:47 am

Continued pressure by both the US and EU on the exchange of tax information by OECD
(Organization for Economic Co-operation and Development) standards looks to make a dent in the use of offshore companies formed in tax havens. Recent jurisdictions looking to see implementation over the short term include Hong Kong, Singapore, Isle of Man, Caymen Islands and Lichtenstein. The former had been included on the list of uncooperative tax havens with Andorra and Monaco.
Leaders of the G20 late last year agreed this to be a priority issue in addressing international cross border tax evasion. In the past many offshore purchasers of luxury residential and resort properties had used SPV's (specific project vehicles) or companies set up for the purpose of holding single assets. Must of the recent pressure on the offshore havens initially came with the rise in terrorism and money laundering.
In Thailand which has many dual taxation treaties there remain many beneficial advantages to a well structured and planned set-up, but professional tax advice should always be sought when making these types of decisions.

Other News

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Women in Hotels – Taking on the World

Category: Hotels, Posted:07 Aug 2020 | 11:50 am C9 Hotelworks and Delivering Asia Communications are hosting a special virtual event titled Women in Hotels – Taking on the World. The one-hour online is event is set for  Wednesday 19 August 2020 at 3:00 pm Bangkok / 4:00 pm Singapore / 9:00 am London. Participation is free. Sign up Ready. Set. Go. It’s 2020 […]
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Phuket’s Pavilions Headed To Palawan

Category: Real estate, Posted:06 Aug 2020 | 11:03 am Phuket born Pavions Hotels and Resorts has inked a deal for a 96-villa luxury resort in El Nido, Palawan, Philippines. The mixed use property will offer one and two bedroom villas and a twenty over-water villas with private pools. A series of hotel branded properties are being sold from USD250-500,000. An opening is expected in […]
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All Zoomed Out. How Collaboration Has Become the Kill Switch of Hotel Creativity

Category: Opinion, Posted:03 Aug 2020 | 09:20 am There is no mistaking the sound of a flushing toilet. It’s not a sudden rainstorm, or the whoosh of a juiced up, flash mob of joggers on steroids passing by on the street. Arguably, it’s a dirty little low-pitched thunder from down under that somehow triggers the gag reflex. Remember Trainspotting?  Welcome to the world […]