TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

UBS vs US Landmark Court Case Signals Concern on Offshore Banki

Category: Real estate, Posted:21 Jul 2009 | 09:14 am

Ongoing litigation between wealth management giant UBS and the US Justice Department who are demanding the Swiss institution release data on 52,000 names of US taxpayers holding offshore accounts is set to become a landmark legal case. Tax avoidance remains the issue and if UBS ultimately releases the information it sets a president for a multitude of other overseas banks who cater to high end private banking such as HSBC will be in a position to comply.
The US Government is taking a hard line on offshore sheltering of wealth both through this and spearheading a drive with the UK though the OECD in effectively shutting down offshore tax free havens. Singapore in the past few years has become a global leader in wealth management offering little transparency in terms of foreign residents holding account; though this looks to be under international scrutiny back of the OECD and money laundering concerns.
In Phuket a large portion of high end real estate is held by foreign nationals or controlled by tax haven offshore entities such as the BVI. Many industry watchers are eyes these issues with interest to view an impact on the struggling property market.

Other News

Read more

Registration Open For Asia’s Sustainable Hospitality Learning Event PHIST 2024

Category: Hotels|Tourism, Posted:04 Jul 2024 | 15:41 pm PHIST (Phuket Hotels for Islands Sustaining Tourism), Southeast Asia’s biggest sustainability event for the travel and hospitality sectors, will return to spark conversation and drive the green agenda this September, with an impressive line-up of key figures and industry innovators led by Peng Sum Choe, CEO of Pan Pacific Hotels Group. Led by the Phuket […]
Read more

Direct Bali Phuket Flights Return in Phuket

Category: Hotels|Tourism, Posted:14 Jun 2024 | 08:15 am The once popular Phuket Bali flight route will see AirAsia restart direct flights from 10th August 2024. AirAsia Indonesia will be the carrier and flight frequency will be three times a week. Bali hosted nearly 600,000 international visitors in May with Australia ranking 22.5% share, followed by India with 11.3% and China on the rise […]
Read more

Registration Open for Mind the Gap – Women & Diversity in Hospitality – A Learning Event

Category: Hotels|Tourism, Posted:13 Jun 2024 | 09:55 am Diversity, inclusiveness, and equality are core issues for the hospitality industry. C9 Hotelworks and the Phuket Hotels Association have organized a learning event titled ‘Mind the Gap, Women & Diversity in Hospitality on Saturday 31st August at the SAii Laguna Phuket. Join us in this unique, candid, and insightful half-day session that takes a closer […]
SiaJai logo

Thailand's Leading Homecare Marketplace