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Bahamas and Cayman's have no income tax --- they get revenue on 20 to 27% customs duties on stuff you import to make your life comfortable.
Biggest problem is the Patriot Act --- widely touted by politicians under the guise of catching terrorists --- it was REALLY created to catch offshore tax account holders.
US notified all offshore banks they had to furnish account holder information or else loose corresponding banking relationship with all US banks --- which would kill their offshore bank industry. Most Carribean banks caved in.
At this date 7 offshore locales are still holding out against US Gov't. and still maintaining secrecy.
That offshore magazine at bookstores tells it all.
I know a nice, intelligent guy who made $100,000 in year 2000 trading options who set up an offshore account in Carribean before that --- had his whole retirement there ---- Carribean bank sung like a canary for the US Gov't when Patriot act came out --- now he is doing one years time in Club Fed for tax evasion.
I think Switzerland still maintaining secrecy.
On Wed, 2 Apr 2003 11:39:23 -0600 , Mark Brown <markbrown@xxxxxxxxxxxxx> wrote:
> Hello omega-list,
as i set here contemplating paying my 50%+ tax rate and how much more
i will have to pay to finance a war, which the out come could have
been easily replicated by a couple of Israeli soldiers if given the
authority.
i am also wondering about tax rates in other countries any comments?
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