Offshore News 2007
The audit, tax and advisory firm KPMG LLP has established the Tax Governance Institute, which is aimed at exploring and debating aspects of tax oversight and management, including tax risk, control and reporting. The Tax Governance Institute is to bring together interested parties to discuss tax matters regarding both day-to-day and long-term management of corporate tax risk.
The countries – members of the Organization for Economic Co-operation and Development (OECD) have agreed to make some improvements in Model Tax Treaty Convention, by introducing the possibility of arbitration if other ways to resolve disagreements fail.
The 5th OffshoreAlert Financial Due Diligence Conference was held in Miami, Florida United States, from April 24.2007 till April 25.2007. Among the organizations presented on the Conference there were the U.S. Securities & Exchange Commission, U.S. Department of Justice, U.S. Senate, Cayman Islands Monetary Authority, Bahamas Securities Commission, Bermuda Monetary Authority, British Virgin Islands Financial Services Commission, Deloitte & Touche and many others.
At the conference organized by the BVI International Affairs Secretariat, representatives of the EU's overseas territories agreed that they must unite in order to maintain their good reputations as IFC's and to cope with international challenges.
The Swiss Federal Council has approved bilateral framework agreements with 8 EU countries accepted in the European Union in 2004 – Cyprus, Poland, the Chech Republic, Hungary, Estonia, Malta, the Slovak Republic, and Slovenia. Framework agreements with Latvia and Lithuania are also close to be completed.
