It’s fair to say the tax transparency agenda has come a long way. From yesterday’s BILD, Germany’s best selling tabloid with the sixth largest circulation worldwide, an article with the headline: Read more…
“Most banks in Liechtenstein’s finance centre have increased the assets they manage in the first semester. This growth was not linked to overall development of financial markets, but in particular to the influx of new money.
One year ago Financial Secrecy Media Monitor was launched; discovering both Brown Moses and Austin Kleon’s Steal like an Artist (“write the book you want to read”) in the same week took away the last available excuses for procrastination.
172 posts and 295 regular subscribers later, some brief reflections and questions:
Welcome to the first edition of tax haven economic diversification watch. This occasional series is based on the assumption that the less a tax haven depends on its financial sector economically, the greater the political chances are of transparency reforms succeeding.
Guernsey – population 65 thousand – was recently reported to be eighth worldwide in number of Foreign Financial Institutions registered under the US Foreign Account Tax Compliance Act (FATCA). FATCA, which became law in March of 2010, requires foreign financial institutions (FFIs) with US clients to register with the IRS.
Which countries have registered the most Foreign Financial Institutions under FATCA so far?