Offshore Finance / Hilton McCann.

Format:

Book

Author/Creator:

McCann, Hilton.

Series:

Cambridge books online.

Language:

English

Subjects (All):

Banks and banking, International.

Investments, Foreign.

Physical Description:

1 online resource (564 pages) : digital, PDF file(s)

Place of Publication:

Cambridge : Cambridge University Press, 2006.

System Details:

Mode of access: World Wide Web.

text file

PDF

Summary:

It is estimated that up to 60 per cent of the world's money may be located offshore, where half of all financial transactions are said to take place; however, there is a perception that secrecy about offshore is encouraged to obfuscate tax evasion and money laundering. Depending on the criteria used to identify them, there are between forty and eighty offshore finance centres spread around the world. The tax rules that apply in these jurisdictions are determined by the jurisdictions themselves and often are more benign than comparative rules that apply in the larger financial centres globally. This gives rise to potential for the development of tax mitigation strategies. McCann provides a detailed analysis of the global offshore environment, outlining the extent of the information available and how that information might be used in assessing the quality of individual jurisdictions, as well as examining whether some of the perceptions about 'offshore' are valid. He analyses the ongoing work of what have become known as the 'standard setters' - including the Financial Stability Forum, the Financial Action Task Force, the International Monetary Fund, the World Bank, and the Organisation for Economic Co-operation and Development. The book also offers some suggestions as to what the future might hold for offshore finance.

Contents:

Part I The past 1

1 Linkages 3

2 The 'Offshore' environment 10

3 The service providers and the consumer (1) 37

4 The service providers and the consumer (2) 58

5 The significance of taxation 82

6 A description of regulatory and supervisory processes 116

7 The regulator and the regulatory authority 177

8 Money laundering 202

9 Some international organisations and groupings 230

Part II The present 259

10 Supranational focus (1): the Financial Stability Forum and the International Monetary Fund 261

11 Supranational focus (2): the Financial Action Task Force 287

12 Supranational focus (3): the Organization for Economic Cooperation and Development 307

Part III The future 331

13 Some problems 'Offshore' 333

14 Some problems 'Onshore' 345

15 Small islands and 'Offshore' 359

16 Some information on particular centres 373

17 The UK and 'Offshore' 388

18 The USA and 'Offshore' 400

19 Can the problems be identified? 422

20 Offshore's Future 433

21 How to assess an 'Offshore Finance Centre' 465.

Notes:

Title from publishers bibliographic system (viewed on 02 Mar 2012).

Other Format:

Print version:

ISBN:

9780511494536

9780521862332

Access Restriction:

Restricted for use by site license.