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Monthly Archives: July 2008
The U.S. Senate is proposing two bills to get a stronghold on the abuse of offshore tax havens. For those of you not sure of what this is, an offshore account is a bank account located outside the country of residence of the account holder, and typically in a low tax jurisdiction that provides financial and legal advantages. For years, offshore accounts have been used for a variety of reasons. Some of which are for privacy, less legal restriction, low or no taxation, easy access for deposits, and protection against local political or financial instability. Read More »
Posted on my Flickr account
http://www.flickr.com/photos/budsblogsite/sets/72157605991323541/
That sounds like sweet music to my ears! Of course, the SEC has yet to suggest a date by which U.S. companies have to adopt IFRS rules, and the thought of such a massive switch is the current topic of discussion at some of the hard partying accounting functions in the country (think fraternity keg party with calculators and sheep). Read More »
