Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (14546)	2/5/2002 4:44:30 PM
From: Raymond Duray	Read Replies (1) of 74559

Re: I don't know what you're smoking but I think you need to switch brands.-g- OK, fine. I'm wondering if you know much about IBCs, International Business Companies. Here's a snippet that intrigued me, from someone you love to loathe, Molly Ivins: Another way to launder money is international business companies, or IBCs - shell companies not required to file any public notice of who their officers and directors are. There's no need to reveal the identity of its shareholders, no need to file any financial statements or keep any accounts. No income, capital gains or inheritance taxes. One pamphlet touting a Bahamian IBC closes with: "'Pinch me! I'm dreaming,' you may be saying." Indeed you may. dfw.com Sure seems like a swell racket for the tax evader. Got an opinion to share?

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