A second draft bill filed in Washington designed to deter tax evasion but which includes less draconian measures than its predecessor would be "more favourable" to Jersey.
Stephen Platt, a compliance specialist, financial crimes lawyer and chairman of the BakerPlatt Group, says although there is no doubt Washington will act against offshore tax havens, currently there is no consensus among policyholders about how to proceed. Senator Carl Levin's Stop Tax Haven Abuse Bill which was backed by Barack Obama during his election campaign has so far only received support from four senators our of 100 in the Senate and 62 out of over 450 co-sponsors in the House of Representatives. It is therefore losing some of its momentum, according to Platt. The bill's progre...
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