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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks -- Ignore unavailable to you. Want to Upgrade?

To: Sans Souci who wrote (41)	2/28/2000 6:22:00 PM
From: CIMA	Respond to of 548

I'm very pleased as well. Less need for the following: Offshore Round-Up - offshorefinancecanada.com ****************************************** ABOUT THIS E-MAIL: You are receiving this e-mail because you subscribed to our free on-line newsletter, Offshore Round-Up. **************************************** ABOUT OUR SPONSOR: This newsletter is sponsored by Offshore Finance Canada magazine. The March/April 2000 issue is now available on major newsstands across Canada. Here are some of the stories to look for: - China funds: international investors are waking up to the returns generated by Chinese equities as the sleeping giant of the east begins to stir. - The caveat emptor column looks at a variety of abusive and defective offshore trust structures and the increasing crackdown by tax authorities. - Our cover story features offshore credit and debit cards. While they offer easy access to offshore funds, they can be costly and usually require a security deposit larger than the credit line they offer. Investors must also beware of unsecured offshore credit card scams and multi-level marketing pitches. A separate article discusses the level of privacy associated with offshore cards. Do they match the level provided by other offshore products and services? Finally, we examine some of the challenges faced by offshore e-commerce companies when trying to set up merchant accounts and payment systems for their offshore businesses. - And of course, lots more in our offshore reports, industry news and the always indispensable Due Diligence Directory. You can order a copy of the March/April 2000 issue at a price of CDN$15 (US$12) through our web site at: offshorefinancecanada.com **************************************** Vol.1. No. 24 Dec. 26, 1999 to Jan. 1, 2000 OFFSHORE ROUND UP: An OFC publication Copyright 1999 O.F.C. Publications Inc. ISSN Pending Table of Contents 1. Guernsey makes progress on Edwards Report 2. SEC moves to combat Internet crime 3. Zurich Financial Services looks to buy Royal & Sun Alliance 4. Swiss tax authorities target billionaire's estate GUERNSEY MAKES PROGRESS ON EDWARDS REPORT Source: Guernsey Financial Services Commission Date: December 12, 1999 A variety of proposed and draft legislation has emerged in Guernsey in the wake of the Edwards Report. The report was commissioned by the UK Home Secretary to look at financial regulation in Guernsey, Jersey and the Isle of Man. The Edwards Report came out in November 1998, listing 160 suggestions, comments and observations on the islands. Some of the proposed legislation for Guernsey includes the Criminal Justice (All Crimes) Law 1999 to be put in force January 1, 2000. Other proposals include the Police and Criminal Evidence Law, designed to give authorities more power to obtain information for investigations, and the Fiduciary and Administration Businesses Law which will regulate trust companies, company formation and administration services. SEC MOVES TO COMBAT INTERNET CRIME Source: Financial Post Date: December 29, 1999 After a slow response to the rapid rise in Internet use in the 1990s, the Securities and Exchange Commission is now moving swiftly and decisively to counter stock scams on the Web. In the three years leading up to October 1998, the agency charged just 38 people with manipulating stocks on the Web. In the past 14 months alone, a total of 83 people and companies were charged with fraud. Richard Walker, SEC enforcement officer, says the agency aims to "achieve maximum deterrence by quickly bringing cases that send a broader message." In early December, that strategy saw the SEC charge three Californians after only 30 days of investigation. In the past, the average case took three years to lead to charges. The SEC singles out so-called "pump-and-dump" scams in which stockowners try to inflate stock prices through groundless chat-room hype and then sell their shares. ZURICH FINANCIAL SERVICES LOOKS TO BUY ROYAL & SUN ALLIANCE Source: Globe and Mail Date: December 27, 1999 The Sunday Daily Telegraph has reported that Zurich Financial Services Group is putting together a proposal to buy Britain's Royal & Sun Alliance Group PLC for seven million British pounds (US$11.7 billion. Zurich Financial is currently Europe's fourth largest insurer, and an acquisition of Royal & Sun would allow the company to improve its ability to compete in a market of dwindling premium revenues. The Telegraph also reported that Royal & Sun's chief executive officer, Robert Mendelsohn, is preparing a defense with investment bankers Goldman Sachs Group Inc. Royal & Sun has seen its shares fall 20% this year, thanks to an increase in weather-related claims. SWISS TAX AUTHORITIES TARGET BILLIONAIRE'S ESTATE Source: National Post Date: December 20, 1999 Swiss finance officials have launched an investigation into the estate of Edmond Safra, a billionaire banker who died in a fire in his luxury penthouse in Monaco. According to the newspaper dimanche.ch, the probe was ordered after Swiss officials learned that Mr. Safra transferred his fiscal residence from Geneva to Monaco only two months before he died. Switzerland stands to lose millions in tax dollars from the move. For direct inheritance amounts over US$325,000, Monaco deducts nothing, while Geneva taxes at six per cent. Money left to siblings is taxed at eight per cent in Monaco and 11% in Geneva. Mr. Safra, born into a small Jewish community in 1932, considered Geneva his second home and built his empire there during the 1960s. His condo was intentionally set on fire by his American nurse, Ted Maher, who planned to impress Safra by rescuing him. ********************************************** Offshore Round-Up is sponsored by Offshore Finance Canada magazine, the leading publication in Canada covering the offshore finance industry. Paid subscriptions provide the funding to sponsor this e-mail newsletter. Information in this newsletter does not duplicate the information in Offshore Finance Canada magazine. For detailed information on financial planning techniques, investment strategies, investor and business profiles, and access to the exclusive OFC Due Diligence Directory, subscribe to Offshore Finance Canada today. CAN$80.25/year for six issues (US$78/year). Discounts on multiple year subscriptions. You can order a subscription through our web site at: offshorefinancecanada.com OR Visit us online at: offshorefinancecanada.com ****************************************************** ______________________________________________________________________ To unsubscribe, write to cdanews-unsubscribe@listbot.com