No Taxes! - Over 20 Tax Havens Covered

Find out how Big "8" accounting firms use IRS Revenue-Ruling 69-70 to pass foreign source income onward to U.S. beneficiaries free from Federal Income Taxes! It's legal to do if you know how.

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Hello! My name is Tom Azzara. I live and work in sunny Nassau in the Bahamas. I'm a SEC Registered Investment Adviser. I lead a group that since 1991 is registering more than 150 Bahamian IBCs (International Business Companies) per year here in the Commonwealth of the Bahamas (with Bahamian trusts included).

The Bahamas (just 3/4 hour from Miami) receive over 3,000,000 tourists and businessmen each year, whilst the Caymans receive over 500,000. Why do businessmen choose to do business to these tax havens? IT'S SIMPLE. The Caymans, the Bahamas, Bermuda, Vanuatu and the Turks & Caicos Islands have no individual or corporate income taxes, no estate, inheritance or gift taxes, no employment taxes, no death duties, no withholding taxes, no sales taxes, no any kind of taxes!

Over 45,000 International Business Corporations have been formed in the Bahamas, Caymans, Turks & Caicos Islands and British Virgin Islands in the period 1985 thru 1990. TAXES. EVERYONE WANTS TO AVOID THEM. One international tax lawyer (NYU) with offices in Geneva and London (Imperial House) writes: "I would like to repeat that I find your analysis of the Tax Code to be excellent. I enjoy each and every issue of the Tax Haven Reporter. I commend you on your jurisprudential reasoning and treatment of international tax matters discussed in your newsletter. Please let me know if you would be interested in receiving articles for publication dealing with other specific areas of international tax law and/or estate planning such as e.g., Swiss Banking Secrecy, use of trusts, doing business in the USSR, or Tax Haven related topics of interest."

WHO'S USING THE WORLD'S TAX HAVENS?
Nearby tax havens like the Cayman Islands, the British Virgin Islands, Panama, Barbados, and The Bahamas are fast becoming prominent financial centers rivaling the industrial cities of Los Angeles, Chicago, London, Tokyo and New York for business.

The pint-sized Cayman Islands now boast more commercial banks (over 500) in their commercial registrar than in all California. The dollars on deposit in these Cayman banks exceeds €275 billion dollars, more dollars on deposit than in all (450+) of California's commercial banks.

The Bahamas, just 50 miles off the coast of Florida, were once the third largest financial center in the world - behind New York and London. Today the Bahamas rank in the top ten, right behind the Caymans in depositor dollars and company formations. Business people from around the globe use the Bahamas as a tax haven. There are currently over €176 billion dollars on deposit in Bahamian banks.

I've seen Mrs. Nihon (industrialists from Montreal) playing cards at a private club with her girlfriends. Her net-worth is reputed to be over a billion dollars. Former U.S. citizen Sir John Templeton (knighted by the Queen Elizabeth II of England) lives in Nassau. Templeton manages over €10,000,000,000 for clients worldwide. He surrendered his U.S. citizenship years go, obviously to escape the USA's 55% estate tax on estates over €2.6 million dollars.

U.S. Treasury Secretary Nicholas F. Brady (P.O. Box N-7776) has a home in Lyford Cay. Remember it's his branch of the Federal Government that was responsible for writing the Treasury Regulations under IRC 951 thru 958 for CFCs back in 1962! There are forty or fifty Bacardi's (the rum distillers) living in Nassau. The Lyford Cay area is a millionaire's row here in Nassau.

People and companies like Adnan Khashoggi (Caymans); Brown Brothers Harriman and Company (former Governor of the State of New York); Bessemer Trust (NY firm with over €5,000,000,000 in assets worldwide); McDermott International (the world's largest offshore drilling company - recently moved its US headquarters to Panama); Hospital Corp. of America (two Cayman companies to service a Saudi Hospital): the daughters of Lyndon Baines Johnson are using the tax havens. Why, even the British appointed former Cayman Governor George Peter Lloyd, C.M.G., C.V.O. is living TAX FREE.

The Caymans have been a British Crown colony for over 3 centuries and were granted freedom from all taxes during the reign of King George III. You remember King George III? King George fostered the Tea taxes, the Rum & Molasses taxes and other levies the colonists refused to pay.

Over 20 tax havens are covered in my book TAX HAVENS OF THE WORLD, including the Bahamas, Caymans, Switzerland, Vanuatu, Bermuda, Barbados, Hong Kong, Singapore, Channel Islands & the Isle of Man (famous havens used by modern British businessmen), Campione, Panama, Puerto Rico (haven for U.S. manufacturers), Anguilla, Antigua, Liberia, Gibraltar, Cyprus (shipping tax havens), and little Nauru (3rd smallest nation in the world), and many more.

Also covered are the Exempt Companies, the International Business Corporation (IBC), the Foreign Trust, the Foreign Personal Holding Company, Exempt Shipping Companies, Exempt Offshore Banks, Exporting U.S. products tax free, the important U.S. Income Tax Trestles, and Australian & Canadian tax havens. Of great importance to the American planner is a complete disclosure on How to Avoid the USA's "Controlled Foreign Corporation" (CFC) legislation.

One International tax lawyer, graduate of the NYU School of Law, whose law firm has offices in Geneva, London (Imperial House) and the United States writes: "I would like to repeat that I find your analysis of the Tax Code to be excellent. I enjoy each and every issue of the "Tax Haven Reporter."

"I commend you on your jurisprudential reasoning and treatment of international tax matters discussed in your newsletter. Please let me know if you would be interested in reciving articles for publication dealing with other specific areas of international tax law and/or estate planning as e.g. Swiss Bank Secrecy, use of trusts, doing business in Russia..."

Another man (John) from Southwick Mass. wrote: "Your book is better than (Professor) Marshall Langer's "Practical International Tax Planning." (over €200 a copy)

C. Brooks a CPA from Pennsylvania writes: "Best book on tax havens I've ever read."

Special Bonus
Order this fine book on legal tax avoidance and we'll send you absolutely free a trial subscription to our newsletter - the Tax Haven Reporter (€200 yr./12 issues) plus other information on "How to form an International Business Company (IBC) in Anguilla."

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