Posts
This
is by way of trying to keep material together so it isn’t
disppeared like the very good 60 Minutes, “Treasure Islands”
report on New Zealand as a tax haven.
Here
are some of the recent material as well as older material. We’ve
been here before but all we get is blanket denial while the
Opposition (with, perhaps, the honourable exception of Winston
Peters) has gone AWOL. Once again the government gets away with
whatever it likes.
With
a few exceptions everyone just sits around commenting on Facebook
(words come cheap) while others try their best.
It
is very difficult to find any video material because no one takes the
trouble to record things and to post onto social media (such as Vimeo
or You Tube) so these items can be referred to in the future.
If
anyone can help in tracking the 60 Minutes item “Treasure islands”
I would be grateful
LATEST STORY
October 7th - Treasure Islands
Martyn
Bradbury of the Daily Blog characterises the situation very well
The
Mossack Fonseca papers – Key has built NZ into a tax haven
The
smell of rot is matched by the shrill braying of right wing pundits
who not only insist Key is moderate but that criticism of a cold
blooded shark like Key is a mental illness.
Martyn
Bradbury
4
April, 2016
If
we had a functioning mainstream media who were challenging Key’s
moves to build NZ into an off shore tax haven over the last 8 years,
this might not come as such a shocking surprise…
Panama
papers: NZ trusts at the centre of Malta money scandal, Mossack
Fonseca papers show
When
New Zealand Prime Minister John Key flew into Malta for the
Commonwealth Heads of Government Meeting in November 2015, he already
knew he shared some important views with his host, Malta’s Prime
Minister Joseph Muscat, about the importance of keeping the tax
secrets of foreign investors.
Both
countries are quiet achievers in the ranks of global tax havens, and
both are determined to keep it that way.
While
Malta has been fiercely resisting pressure to close tax avoidance
loopholes used by foreign companies, including Australian firms, to
move profits out of the European Union, New Zealand has fought just
as hard to protect its laws that make foreign profits tax-free and
invisible for beneficiaries of its offshore trusts.
…
so
a mega wealthy currency trader has helped build an entire country
that worships him and his vacant aspiration into a global tax
haven while our media fawn over the Batchelor.
There
has been something deeply rotten about NZ since Key came to power.
The increased use of vast surveillance powers, the use of public
money for blatant crony capitalism, the despicable ends his dirty
politics team would go to, the loss of political and economic
sovereignty by signing the TPPA, the scapegoating and
forced removal of many of those in poverty from benefits and state
homes while the rich get richer and richer and richer.
Key
was told 3 years ago by IRD that we had problems that was making NZ a
tax haven, Key has done nothing in those three years.
The
smell of infection is matched by the shrill braying of right
wing pundits who not only insist Key is moderate but that criticism
of a cold blooded shark like Key is a mental illness.
Now
of course, if one dares point this out and mention the class issues
involved at these financial elites milking the Government for their
own gains, that gets decried as ‘envy’ and ‘jealousy’.
I’m
less ‘envious’ as incandescent with rage at the injustice of it
all.
This
is casually fascist corporate feudalism at its most obvious. John Key
would need to open a Scrooge McDuck giant money swimming pool,
guarded by paramilitary death squads with a 200 meter high neon
sign reading ‘suckers’ for it to be more obvious.
This
is very far from good.
Here
is Radio New Zealand this morning
NZ's 'world-class' tax system defended
Prime
Minister John Key has mounted a defence of New Zealand's tax system,
rejecting any suggestion it acts as an international tax haven.
Prime
Minister John Key Photo: RNZ / Alexander Robertson
4
April, 2016
A massive
leak of confidential documents has revealed how scores of the world's
wealthy and political elite used Panamanian law firm Mossack Fonseca
to set up tax havens, including in New Zealand.
More on the Panama papers
More
than 12,000 offshore trusts are registered in New Zealand.
An
overseas trust set up in New Zealand with overseas assets but which
does no business in this country and has no local income is
tax-exempt.
Mr
Key rejected any suggestion New Zealand was a tax haven.
"Tax
havens are where there is non-disclosure of information - New Zealand
has full disclosure of information, and so all you've got is New
Zealand's taken a different view from a lot of different
jurisdictions and that's because the way we tax is we tax a settler.
"In
other words, it's all about making sure New Zealanders pay their fair
share of tax, what we've got is quite a legitimate regime."
Mr
Key said he didn't think the revelations, and the link to New
Zealand, were embarrassing.
"New
Zealand has had the same tax laws when it comes to trusts since 1988;
New Zealand also had a review undertaken by the OECD in 2013 and they
gave New Zealand a 'clean bill of health'.
"We
also have an extensive disclosure regime, we're a signatory to a
network of different treaties and we've been strengthening those laws
over time."
Mr
Key said he had been advised having foreigners set up trusts in New
Zealand was worth about $24 million to the industry, in terms of the
fees, tax and GST that was paid
He
said he did not know whether any of the foreign money in the trusts
came from illegal activities.
Labour
Party leader Andrew Little Photo: RNZ / Alexander Robertson
Labour
Party leader Andrew Little said New Zealand's reputation was at risk
after recent media reports.
"If
we're being billed around the world as a safe place to have these
dodgy trusts and to avoid tax, that is not good for New Zealand and
our reputation," Mr Little said.
"We
need to know what the Prime Minister knows and what the government is
going to do about it."
He
said New Zealanders needed to know the way the tax system operated
would not encourage others to look at New Zealand as a tax haven.
"For
foreign interests who want to use those mechanisms to conceal what
they're doing - that would just be totally wrong for New Zealand."
Mr
Little said the problem was likely a combination of how easy it was
to set up a company in New Zealand, and the Inland Revenue Department
(IRD) not monitoring trust activity closely or vigorously enough.
"I've
seen ample reports that talk about how easy it is to set up a company
and set up other legal vehicles in New Zealand and at one blush you
could say 'oh that's good, easy to do business' - actually then it
becomes easy to do dodgy business.
"And
it is not good for New Zealand to have a reputation as a place to
conceal dodgy business, so we've got to get out of that."
Mr
Little also said Mr Key should be open about what he had done or not
done to prevent New Zealand becoming a soft target.
"The
Prime Minister must address claims he has fought to retain the
loophole whereby foreign trusts that hold offshore property and earn
offshore income have no tax obligations in New Zealand and don't have
to file an annual income tax return here."
He
also called on Mr Key to disclose whether any of his ministers were
using any of those foreign trusts.
"New
Zealand is today being described as the 'quiet little achiever' as a
tax haven for criminals."
She
said the IRD warned the government in 2013 about the high risks of
New Zealand foreign trusts.
"Yet
National has ruled out any reform to date," she said.
"In
an email dated March 24th, 2016, IRD said, 'In relation to the
foreign trust tax rules, given wider government priorities, the
government will not be considering regulatory reform of the rules at
this stage'."
She
said the government should require more complete information about
the identity of settlers, their country of residence and related
parties, and annual financial reporting.
Revenue Minister speaks out
Revenue
Minister Michael Woodhouse said it was ridiculous to suggest New
Zealand was a tax haven, insisting the country had a very sound tax
system and world-class tax rules.
He
said New Zealand did not tax foreign income earned by foreigners, and
the same rules applied to trusts.
New
Zealand had been an active participant against tax avoidance within
both the OECD and G20, he said.
In
a statement, IRD said it was working closely with New Zealand's tax
treaty partners to obtain full details of any New Zealand tax
residents who may have been involved in arrangements facilitated by
Mossack Fonseca.
It
said it had a very active compliance programme focused on those who
engaged in abusive offshore arrangements and did not meet their tax
obligations.
IRD
said it encouraged any New Zealand tax residents who might have been
involved in offshore arrangements that did not comply with tax laws
to come forward voluntarily rather than face more severe action
later.
Here
was an article by cmpaigner, John Minto, from the Mana Party. The
link he gives goes nowhere now.
New
Zealand – A Tax Haven For Super-Rich Foreigners
John
Minto
Revenue
Minister Peter Dunne was all spluttering indignation in early October
2012 when confronted with the fact New Zealand is a tax haven for
wealthy foreigners. The scheme was exposed in a TV3 60
Minutes documentary
story which showed how New Zealand companies manage financial trusts
for super-rich foreigners so these foreigners can avoid paying tax in
their own countries (“Treasure Islands”,
7/10/12, http://ondemand.tv3.co.nz/60-Minutes-Treasure-Islands/tabid/59/articleID/8315/Default.aspx).
These
“wealthy individuals” are part of a global rort where an
estimated $US30 trillion of tax is avoided by having their wealth
managed in a third country – New Zealand in this case. The money
isn’t invested here; it’s just “managed” here so it doesn’t
appear as taxable wealth or taxable income either in the person’s
home country or in New Zealand. Dunne said that that while some might
call it tax evasion, he described it as “legitimate tax avoidance.
I think the term 'tax haven' is a gross exaggeration because it
implies illegality, it implies evasion, rather than legitimate tax
avoidance”.
However
when it was pointed out that our Inland Revenue Department Website
says tax avoidance is wrong Dunne went silent and refused further
interviews but was backed up by Prime Minister John Key who said
Dunne was right. “He'll be using the absolutely correct technical
term. There are two things, going back to my days at university –
tax evasion and tax avoidance. There is actually quite legitimate
business in New Zealand for servicing foreign trusts”.
So
there you have it. We ordinary mortals must pay tax on every dollar
we earn and every dollar we spend while the rich pay next to nothing
via “legitimate tax avoidance”. Even Labour Party Leader David
Shearer agrees the distinction is a false one. "Tax evasion, tax
avoidance – it’s basically the same thing”. Labour’s Revenue
spokesperson David Clark said “There is a serious ethical issue
here. These people, who are often rich families in poor countries,
aren’t paying their fair share. That’s not something New Zealand
should be supporting. It’s not the Kiwi way”. He also pointed out
with some indignation that the number of foreign “tax-avoidance”
trusts managed in New Zealand had doubled under National. Why
wouldn’t it? Labour started the ball rolling.
Meanwhile,
On The Home Front…
Here
in New Zealand the tax situation mimics our attitude to foreign tax
avoiders and evaders. The system is rotten to the core. In 2010
the wealthiest 150 New Zealanders had an increase in wealth of $7
billion – and for the most part they paid no tax on this windfall
of unearned riches. But for those on the lowest incomes the tax rates
are particularly savage. The lowest 10% of income earners spend 14%
of their income on GST while the top 10% spend less than 5% of their
income on GST (Goods and Services Tax)..
As
well as paying less GST the super-rich pay hardly any income tax
either. A recent Inland Revenue sample of the wealthiest 250 New
Zealanders (with wealth in excess of $250 million) found only half
are paying the top tax rate of 33%, which kicks in at earnings of
over $70,000. You are excused it you uttered an expletive at this
point. US multi-billionaire Warren Buffet pointed in 2011 that his
secretary pays a higher tax rate than he does but in New Zealand it’s
even worse – the more money you get the lower the tax you pay.
In
2010 when concern was expressed about the wealthy avoiding paying the
top income tax rate of 39% Finance Minister Bill English dropped the
rate to 33% to match the rate paid by local trusts. In other words
the rich wouldn’t play by the rules so the rules were changed so
they didn’t break them. Another expletive understood. The total tax
take from our most affluent could be as low as four or five percent
while the lowest income New Zealanders pay around 26% when income tax
and GST are taken into account.
It’s
no exaggeration to say New Zealand is a tax haven for local and
foreign elites who grow fat on the hunger and homelessness of the
poor. Some have argued that the social value of the work of the rich
justifies their higher incomes and lower taxes but this is market
myth. A hospital cleaner paid close to the minimum wage does work of
high social value. Just think if the job was left undone for a couple
of weeks. On the other hand currency speculators, such as Prime
Minister John Key in a former life, are paid vastly more but their
work contributes nothing of value to society. In fact it’s mostly
calculated as a negative.
Ten
EU Countries To Adopt FTT
There
are some small moves internationally to challenge the tax rip-offs of
the rich. One way is through a Financial Transactions Tax on currency
trading. In October 2012 ten European Union (EU) countries - France,
Germany, Italy, Spain, Austria, Belgium, Greece, Portugal, Slovakia
and Slovenia - announced they are introducing a Financial
Transactions Tax (FTT). It’s a small start to shift the tax burden
onto those who have never paid their way while easing the burden on
wage and salary earners.
EU
Commission President Jose Manuel Barroso said: "This is about
fairness - we need to ensure the costs of the crisis are shared by
the financial sector instead of shouldered by ordinary citizens".
If fairness were the criteria we’d have had an FTT decades ago and
the case for New Zealand to follow the European lead is particularly
strong. Not because politicians, financiers, or banks want it but
because it would be a significant start in rebalancing our rotten tax
system.
Hundreds
of billions move in and out of New Zealand banks every year as
currency traders feed off the wealth created by workers elsewhere. In
fact currency traders have the same role in global finance as a
burglar has in our homes – to rip us off. Right now our tax
system rewards the idle who trade in wealth created by others while
those on low incomes struggle under the heaviest tax burden. Robin
Hood would be turning in his grave. Major structural changes to our
tax system are needed to bring “economic justice” to our families
but a financial transactions tax would be a good start.
The
FTT to apply in the ten EU countries will cover transactions on
currencies, bonds and shares traded at banks and financial
institutions. We need it here. In 2011 the New Zealand dollar was the
tenth most traded currency in the world and a 0.5% tax on that trade
alone would bring in more than enough to abolish GST, giving a huge
boost to families on low and middle incomes. As well getting rid of
GST, a tax on currency trading would also reduce the value of the New
Zealand dollar by dampening speculation which in turn would bring in
more income from exports. This is the direct way of dealing with our
overvalued currency rather than the agonised three monthly interest
rate decisions of a hobbled Reserve Bank.
We should also apply the
tax to share trading, such as in the UK where they’ve had such a
tax (set at 0.5%) for several decades. An FTT would be a good
step away from the tired old neo-liberal polices which tax the poor
to death while the super-rich pay peanuts. We should follow the
European lead.
All we have from the 60 Minutes story is from someone who kindly thought to record this and put it on YouTube
All we have from the 60 Minutes story is from someone who kindly thought to record this and put it on YouTube
One of our very best (if only) investigative journalist, Nicky Hager researched and reported on this story.
Money
trail leads home to New Zealand
Leaked
documents reveal one of New Zealand's richest families was for a time
at the heart of a major international tax haven company that hit the
news in the United States last week.
Nicky Hager
The Spencer family – which now runs Waiheke Island’s Man O’War Bay winery and vineyard – set up TrustNet, one of the companies at the centre of the tax haven leak.
7
April, 2013
John
Spencer, New Zealand's richest man in the 1980s and still incredibly
wealthy, was - with his family - majority owners of the company
called TrustNet, whose extremely secret client records have been
leaked en masse to a Washington DC-based journalism organisation. The
leaks reveal the identity of tens of thousands of people who use tax
havens: some involved in dodgy activities and evading tax, others in
lawful activities including companies doing business across political
borders and individuals living in multiple countries or legitimately
minimising their tax.
Surprisingly,
the leaks show New Zealanders are involved extensively in this
shadowy world of offshore companies and secret bank accounts.
The
company at the centre of the Washington leaks was set up by New
Zealanders, has been staffed by many New Zealanders and for 14 years
was majority-owned by the Spencers.
The
Spencers have courted controversy. John Spencer waged a 19-year
battle to stop public access to the Stony Batter gun emplacement on
his Waiheke Island farm, including barricading a public road. The
Star-Times revealed in 2005 that his son Berridge and daughter Mertsi
were secret National Party donors. And now Spencer is the Kiwi
connection to secret tax haven records that may be the largest leak
of financial information in history.
They
expose the hidden activities of wealthy, secretive or criminal people
in around 150 countries and territories. In total, about
one-and-a-half million documents were leaked to the International
Consortium of Investigative Journalists (ICIJ), an independent
network of reporters who work together on cross-border
investigations. There is currently hot debate around the world about
corporations which don't pay tax and the respectable bankers and
lawyers who assist them.
The
Tax Justice Network and other organisations are pushing for
governments like New Zealand's to stop tolerating tax havens and work
together to close them down. TrustNet has helped set up and manage
companies, trusts and bank accounts in tax havens for about 80,000
individual clients.
According
to overseas news stories based on the leaks, they include the
mega-rich, corrupt regimes, corporations dodging tax, fraudsters,
companies shifting wealth out of poor countries, companies with
controversial or secretive business, mercenaries and spies, and also
many ordinary people who want to move their money and business
"offshore".
The
Tax Justice Network estimates that about one-third of the world's
wealth is held offshore and about half of all the world's trade flows
through tax havens. New Zealanders have had occasional glimpses of
the offshore world. Star-Times stories have exposed:
*
Geoffrey Taylor, and his sons Ian and Michael, setting up companies
in New Zealand for North Korean arms trading and organised crime;
*
an Auckland Burger King cook was a director for some of these
companies;
*
and a Nelson woman who supposedly owned a Moldovan TV station, again
through a chain of Taylor companies.
Mostly
these people and their shell companies have been pawns in a much
bigger system.
KIWIS
IN KEY ROLES
The
TrustNet leaks show New Zealanders in key roles helping to run the
system. TrustNet markets itself today as the largest independent
offshore services company in Asia. It was set up 25 years ago by
Kiwis in what was then the newly established Cook Islands tax haven.
In
the early 1980s business lobbyists from New Zealand and Australia
persuaded the Cook Islands government that becoming a tax haven would
bring riches to the small island group. These lobbyists included New
Zealander lawyer Trevor Clarke, "father of the Cook Islands tax
haven", who with others used the new tax haven laws to build a
company called European Pacific.
Documents
about European Pacific's tax schemes were leaked and tabled in the
New Zealand Parliament by MP Winston Peters, igniting the Winebox
scandal (see breakout).
Another
key figure was New Zealand lawyer Mike Mitchell, the Cook Islands
solicitor-general in the early 1980s and main government adviser as
the tax haven was established. He resigned from that role in 1986 to
move into the offshore business himself. On April 29, 1987, he
established an offshore services company called Pacific Trustee
Company. The company was later renamed TrustNet, the company at the
centre of last week's leaks.
TrustNet's
first chief executive was another New Zealand lawyer, Steve Breed,
who was joined a few years later by fellow Auckland law school
graduate David Sceats. Early staff included people who'd worked on
the Cook Islands Winebox schemes. The European Pacific tax expert
accused in court of leaking the Winebox documents, New Zealand lawyer
George Couttie, had moved on to work for TrustNet in Hong Kong. But
soon after this accusation was made, according to internal documents,
senior TrustNet staff recorded a terse company resolution that
"accepted" his resignation "effective from the date
hereof".
In
contrast, European Pacific's former senior executive Geoff Barry was
later hired by TrustNet and rose to become the chief executive
officer. Today, 10 years later, he is executive director of
TrustNet's Hong Kong office.
Spencer's
ownership of TrustNet was never publicised. It came to light only
during analysis of the leaked records. A note about an obscure
offshore entity says "Client is our big boss, John Spencer".
Spencer,
who had inherited his family's Caxton toilet paper empire, owned,
with his family, a majority share of TrustNet from July 1990 until
September 2004, through a Bahamas company called International
Trustee Holding Company Limited. John and Berridge Spencer also used
TrustNet to place some of their own money and investments in a
complex web of offshore companies and trusts. These were based in the
British Virgin Islands and Cook Islands, with names such as Northern
Lights Trust, Star One Trust and Tristar Capital Service Limited. A
spokesperson for the Spencer family said neither John nor Berridge
Spencer have been New Zealand residents since the 1990s and in those
circumstances it was hardly surprising that the family have assets
invested outside of New Zealand.
With
the Spencers' backing TrustNet grew quickly, opening offices in Hong
Kong in 1991, the British Virgin Islands in 1993 and Singapore in
1994. The early clients included a controversial Indonesian
rainforest logging tycoon named Prajogo Pangestu, who had four
British Virgin Islands companies.
TREVOR
CLARKE
Another
TrustNet client was the former European Pacific manager Trevor
Clarke. He had his own set of offshore companies and trusts
administered by TrustNet. They were home to millions of dollars of
assets, the leaked documents reveal, and TrustNet staff were given
special instructions about keeping them secret. One document reads:
"We are to contact Trevor by phone only unless otherwise
instructed . . . No documents are to be kept here. All docs are to be
held in our Hong Kong office."
Clarke
was appointed chair of the Cook Islands' new Financial Supervisory
Commission from 2003 until 2010, which was set up to oversee the
offshore industry. Throughout those years he had the secretive
offshore trusts and companies. Clarke responded that he was not "a
user of any Cook Islands entities" - his companies and trusts
were in Samoa and the British Virgin Islands - and said these were
set up well before his role as FSC chair. He had disclosed them to a
number of authorities. He said there were lots of reasons for people
to want to have assets outside the country where they live. The
secrecy instructions did not come from him, he said.
The
TrustNet files also show a close relationship between the company and
the BNZ and ANZ banks, which had dedicated staff for offshore
banking. The leaked documents show bank staff routinely helping
TrustNet move money in and out of its clients' offshore bank accounts
held at the BNZ Singapore branch and ANZ Cook Islands branch.
In
September 2004, the Spencers sold TrustNet to a Singaporean offshore
lawyer named David Chong. But many of the New Zealanders, especially
lawyers, continued to work in the company and be part of tax haven
politics.
Lawyers
created the offshore world and lawyers and accountants run it. They
lobby in each tax haven for special laws to attract clients and often
actually write the laws themselves. The leaked Trust#dhNet papers
show this clearly in the minutes of the Cook Islands Trus#dhtee
Company Association. The offshore services company heads are seen
sitting around deciding what laws they want, putting the hat around
for money to have them drafted and then arranging to pre#dhsent the
new laws to the Cook Islands government. The same lawyers then use
these laws to help their clients.
They
also deal with the problems when things go wrong. One of
Trust#dhNet’s New Zealand lawyers Penny Purcell was on duty, for
instance, when two officers from the Hong Kong Commercial Crime
Bureau turned up on August 20, 2007, at TrustNet’s harbour-front
offices. They were investigating a fraud case involving a British
Virgin Islands company called Sound Financial Management Limited.
The
secret TrustNet files include Purcell’s written record of the
meeting. Detective Sergeant Steven Lam produced a formal letter from
the Hong Kong commissioner of police requesting ‘‘all relevant
documents’’ about Sound Financial Management Limited and details
of the company’s director and shareholder. Purcell replied that the
officers would need to contact TrustNet’s British Virgin Islands
office and, according to her own notes, assured them ‘‘we do not
keep any files or records here’’.
She
said the police ‘‘were surprised’’ the office had no records
and asked how this could be ‘‘if the client is based here in Hong
Kong’’. ‘‘I then explained,’’ Purcell wrote, ‘‘that
we acted as a marketing/secretarial office but that all information
including the registers of the Company were kept in its registered
office.’’
Detective
Sergeant Lam tried one last time, she wrote, asking if they kept any
information there in Hong Kong, including correspondence. ‘‘I
said no,’’ Purcell wrote. A few days later TrustNet repeated the
denial by letter. ‘‘Portcullis TrustNet (Hong Kong) Limited does
not hold any corporate or statutory records of the Company, nor is it
required to,’’ the letter said. However, the details the police
were looking for would have been instantly available on Pur#dhcell’s
computer. The leaked Trust#dhNet documents show that she routinely
used the company’s Offshore Management Information System (OMIS),
which was available in all the TrustNet offices and contained all the
client records.
The
OMIS database, which was leaked to ICIJ, lists Sound Financial
Management’s director and shareholder as Glen Douglas Crankshaw, a
Canadian living near Bangkok. TrustNet helped his company open a bank
account at the Standard Chartered Bank, Hong Kong branch, located on
the ground floor of the same building as TrustNet. According to
Purcell’s notes, she told them none of this. Two years later the
Hong Kong police issued an arrest warrant for Crankshaw for ‘‘dealing
with property known or reasonably believed to represent the proceeds
of indictable crime’’. They had traced him through a different
offshore company, with the similar name ‘‘GS Sound Management
Limited’’.
Purcell
has since returned to help run TrustNet’s office on Auckland’s
North Shore. She remains part of a network of New Zealand offshore
lawyers scattered in tax havens around the world. They include former
TrustNet lawyer Barry Mitchell who, according to court documents,
gave assistance during the setting up of the Trinity investment
scheme, New Zealand’s largest tax avoidance case; and Act
Party-aligned blogger Cathy Odgers (‘‘Cactus Kate’’) who has
worked as an offshore lawyer in the British Virgin Islands and Hong
Kong.
Various
offshore lawyers have brought their skills home, taking advantage of
New Zealand’s loose company and trust law. The original TrustNet
lawyers, Breed and Sceats, came home and set up Nexus Trust,
promoting New Zealand’s tax haven potential to foreign clients. Two
other former Cook Island lawyers, Nick Shepherd and (Here former European
Pacific executive) Mike Reynolds set up Anchor Trustees which offers
services to ‘‘non-resident families and corporates’’.
Long-term
TrustNet client Tim Brears on Auckland’s North Shore offers clients
advice on the ‘‘advantages of moving ownership and control of
assets and investment offshore out of New Zealand’’. #
Nicky
Hager has worked in a multi-country team for the past 15 months
analysing the leaked materials and #co-ordinating local journalists
in Asia, Africa and part of Europe who collaborated in the
International Consortium of Investigative Journalists project,
www.icij.org.
Thank you for sharing. This article is very helpful and Inspirational. Excellent!
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