Call a Spade a Spade, and a Haven a Haven
In the United States House of Representatives, where I had the honor to serve for eight years, there is a strict rule against Members using "unparliamentary" or "offensive" words. Should a speaker use such language, any other member can object and demand that "the words be taken down."
Indeed, I once used this parliamentary device on my late colleague from New York. I effectively silenced the Honorable Bella Abzug, when she accused all Republicans of being "racists."
This ruling is so serious that the offending Member will not be allowed to speak again on that day, except by motion or unanimous consent.
In fact, the House Speaker has ruled certain words are so inherently offensive that the offending member is out of order per se. These include words like accusing another Member of being a "Nazi."
I cite this quaint House rule because it appears to me that the world's demagogues are trying mightily to make us believe that the words "tax haven" denote places that are inherently offensive. They try to make you believe that completely legal, free-market centers are full of the dirty cash and hidden assets from tax evaders. (See my former A-Letter comment "Why Tax Havens Are a Blessing.")
The tax-hungry politicians, and their lap-dog media, made the most of the recent criminal act in Liechtenstein. In case you missed it, the German government bribed a FORMER Liechtenstein bank employee to sell them the names of foreign account holders. And then the Germans tried to imply the mere act of having a bank account is automatic proof of tax evasion (which of course, is ridiculous).
The latest chapter in this coordinated attack on havens is an outrageous demand by the newly re-elected Spanish government. In short, the Spaniards want to "black list" Gibraltar simply because it is a tax haven.
Spanish officials claim to believe that because "The Rock" is indeed, a tax haven, the territory shelters corrupt businesses, tax evaders and money launderers. They want the hardly impartial Organization for Economic Cooperation and Development (OECD) to investigate this alleged criminal conduct.
Peter Caruana, the Chief Minister of Gibraltar, disputes these claims: "If the Spanish government is saying that the Gibraltarian authorities are not cooperating with Spain in the way we cooperate with other countries, that is simply untrue," he said.
This latest complaint is the long series of attacks by the Spanish government against the British overseas territory. It comes just weeks after Spain criticized both Gibraltarian and British authorities for failing to secure a stricken ship in disputed waters off the peninsula.
The actual truth is that Gibraltar has a much better record in regulating its financial services than Spain does. In fact, almost every independent international organization that measures financial activities has said so. The latest very positive International Monetary Fund (IMF) report on Gibraltar shows just how wrong Spanish officials are to criticize. It once again proves the clean reality of how The Rock operates.
Gibraltar has fashioned itself into a dual purpose residential tax haven for high net worth individuals from around the world. The Rock is also a professional base for tax-free international business corporations and trusts. Gibraltar imposes no capital gains, wealth or estate taxes.
In the United States House of Representatives, where I had the honor to serve for eight years, there is a strict rule against Members using "unparliamentary" or "offensive" words. Should a speaker use such language, any other member can object and demand that "the words be taken down."
Indeed, I once used this parliamentary device on my late colleague from New York. I effectively silenced the Honorable Bella Abzug, when she accused all Republicans of being "racists."
This ruling is so serious that the offending Member will not be allowed to speak again on that day, except by motion or unanimous consent.
In fact, the House Speaker has ruled certain words are so inherently offensive that the offending member is out of order per se. These include words like accusing another Member of being a "Nazi."
I cite this quaint House rule because it appears to me that the world's demagogues are trying mightily to make us believe that the words "tax haven" denote places that are inherently offensive. They try to make you believe that completely legal, free-market centers are full of the dirty cash and hidden assets from tax evaders. (See my former A-Letter comment "Why Tax Havens Are a Blessing.")
The tax-hungry politicians, and their lap-dog media, made the most of the recent criminal act in Liechtenstein. In case you missed it, the German government bribed a FORMER Liechtenstein bank employee to sell them the names of foreign account holders. And then the Germans tried to imply the mere act of having a bank account is automatic proof of tax evasion (which of course, is ridiculous).
The latest chapter in this coordinated attack on havens is an outrageous demand by the newly re-elected Spanish government. In short, the Spaniards want to "black list" Gibraltar simply because it is a tax haven.
Spanish officials claim to believe that because "The Rock" is indeed, a tax haven, the territory shelters corrupt businesses, tax evaders and money launderers. They want the hardly impartial Organization for Economic Cooperation and Development (OECD) to investigate this alleged criminal conduct.
Peter Caruana, the Chief Minister of Gibraltar, disputes these claims: "If the Spanish government is saying that the Gibraltarian authorities are not cooperating with Spain in the way we cooperate with other countries, that is simply untrue," he said.
This latest complaint is the long series of attacks by the Spanish government against the British overseas territory. It comes just weeks after Spain criticized both Gibraltarian and British authorities for failing to secure a stricken ship in disputed waters off the peninsula.
The actual truth is that Gibraltar has a much better record in regulating its financial services than Spain does. In fact, almost every independent international organization that measures financial activities has said so. The latest very positive International Monetary Fund (IMF) report on Gibraltar shows just how wrong Spanish officials are to criticize. It once again proves the clean reality of how The Rock operates.
Gibraltar has fashioned itself into a dual purpose residential tax haven for high net worth individuals from around the world. The Rock is also a professional base for tax-free international business corporations and trusts. Gibraltar imposes no capital gains, wealth or estate taxes.
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