British financial officials in the region for talks with dependent territories
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| Published on Saturday, March 21, 2009 |
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By Oscar Ramjeet
Caribbean Net News Special Correspondent
Email: oscar@caribbeannetnews.com
HAMILTON, Bermuda: The Head of the United Kingdom Government Independent Review of British Offshore Financial Centres, Michael Foot, and his team from the UK Treasury are now in the region visiting some of the Overseas Territories.
The team already visited the Cayman Islands and held talks with senior government officials. The team members are now in Bermuda, and are due in the British Virgin Islands on Monday.
The UK government’s independent review of British offshore financial centres was announced in November 2008 as part of Britain’s budgetary process. The review team will be working with overseas territories with finance centres, including the British Virgin Islands, Bermuda, Cayman Islands, Anguilla, and the Turks and Caicos Islands, as well as Crown Dependencies, including Jersey, Guernsey and the Isle of Man.
The goal is to identify opportunities and current and future risks in financial supervision, transparency and taxation in relation to the financially stability, sustainable future competitiveness, financial crisis management, and international co-operation.
The financial services sector is under great scrutiny, which has further intensified after the United States threatened to move against its citizens who try to evade taxation. | | | | Reads : 678 |
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