Tax Notes Today reports that Linda Carlisle, of White & Case,LLP, has followed up with Benedetta Kissel, Deputy International Tax Counsel, Department of Treasury, regarding S. 681, the "Stop Tax Haven Abuse Act of 2007" which was introduced by Senator Carl Levin and cosponsored by Senators Norm Coleman and Barack Obama. Among other things, S. 681 includes provisions relating to so-called "offshore secrecy jurisdictions," and names Guernsey as one of 34 initial such jurisdictions. See "Law Firm Follows Up on Meeting With Treasury Official on Categorization of Guernsey as Tax Haven," 2007 TNT 199-38 (Oct. 15, 2007). The Tax Notes article includes the full text of Ms. Carlisle's memorandum to Ms. Kissel.
Posted by Lewis J. Saret, General Editor, Wealth Strategies Journal.
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