Offshore companies in the British Virgin Islands own assets of more than $1.5 trillion, according to a locally-commissioned report released on Wednesday. The report claims that the zero corporation tax-jurisdiction is not a tax haven, and looks to promote the British Virgin Islands over other tax neutral jurisdictions such as Delaware. But tax justice activists point to the underlying invitation to build avoidance schemes.
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Despite a general decline in corporate tax rates around the world, jurisdictions are now more reliant on it than in 1990, a Tax Foundation economist found
Australian law firm Webb Henderson’s report said PwC had met 46 of 47 targets; in other news, the OECD has issued new transfer pricing country profiles
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Wopke Hoekstra’s comments followed US measures aimed against ‘unfair foreign taxes’; in other news, Grant Thornton and Holland & Knight made key tax partner hires