Investment groups respond to offshore inquiry

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A number of investment organisations and business groups have written to the Treasury Select Committee on the issue of offshore financial centres, ahead of yesterday's deadline for comment.

Among those responding to the Committee’s request for written evidence, as part of a Treasury inquiry into offshore financial centres, was the Association of Investment Companies (AIC) which has given its backing to the Channel Islands. It argues the British Exchequer does not lose out “where investment companies locate offshore, as they would not, and do not, exist at all in the UK under the current tax regime”. The AIC, which represents some 354 closed-ended investment companies, argues offshore financial centres can be legitimately utilised by investment companies without raising any ...

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