July 13, 2008

ARUBA INVESTMENTS AND "TAX HAVENS" TO BE SCRUTINIZED




Aruba - Tax Haven - Privacy,
Offshore Investments & Financial Services Of Aruba



NEW DELHI: The government is planning to scrutinize investments flowing in from tax havens such as Andora, Aruba, Bahamas, Costa Rica and Dominica where investor details remain confidential due to banking policies.

According to sources in the department of industrial policy and promotion (Dipp), the government is concerned about Indian residents parking money in the island nations to route them back for investments. There are also mounting fears of money being used for terror funding and laundering activities.

Investments in the nations do not get reported as the island countries maintain banking secrecy and do not reveal the nature of investments.

Intelligence agencies have expressed fears that funds from such places were flowing into the stock market through participatory notes issued by foreign institutional investors.

“We need to crack down on such investments. Intelligence authorities and National Security Council (NSC) would assist in tracking such investments,” a government source said, adding that most such funds flow into the real estate sector.

According to estimates, funds from such nations flowing into the real estate sector totaled $150 million. Although the money through the route may be a paltry amount compared to $2-billion FDI in 2007-08, the government fears this is just the beginning of an impending influx.

The government’s move comes months after revelations by German government intelligence authority BND about ill-gotten wealth to tune of millions being parked in Liechtenstein, a tax haven near Germany. Countries like Canada, Italy, India and the US have expressed interest in accessing information on the funds parked in Liechtenstein.


http://economictimes.indiatimes.com/articleshow/3208515.cms


13 comments:

Anonymous said...

The Indian bounty hunters are on their way to trap Joran van der Sloot. They view Joran as a fair game, a runaway rebellious white tiger. The world think Joran is the root of all Aruban's evils -- rape, murder and money laundering. If Joran can be trapped and eliminated, the world will be a better place to go. The head and skin of the white tiger can fetch a lot of money from the Oriental sexual enrichment suppliments medicine market, so is Joran. He is now quite fat and juicy and horny.

donald said...

I do not look for meaningful change to the Aruban banking policy. When money laundering is your way of life change is difficult.
Just exactly why we continue to send American families there to perpetuate this sham is a mystery to me.

Michelle Says So said...

Well said, Donald. That area has thrived on those benefits for years. It's like trying to take taking money and livelihood away from Paris Hilton.

And I still chastise anyone that goes to or WOULD go to Aruba. I have a friend that works for RCI (the vacation planning company) and got on my soap box to blast Aruba...guess Aruba isn't doing very well anyway! Didn't have to waste that breath!

HA HA HA!

Anonymous said...

With the oil money and huge profits from tax shelter funds laundering, Aruba plan to buy Fox Channel News for 1.3 billion dollars. The whole gamble is to fix Greta and have her recant her Joran story publicly and apoligize to the Sloot family. That's the only way Aruba think it will come clean before the Americans and win back their trust.

Anonymous said...

Aruba is fighting back. The island nation will advertise in a New York newspaper saying that the Aruban Boycott Magarzine is tasteless and harmful to the people of Aruba. Aruba is highest rated island country represented in China Olypics.

Anonymous said...

Sanitizing Aruba, gaining control of Aruba's corrupt politics and judicial systems, and resolving the rape and murder of Natalee Holloway by the Dutchman Joran van der Sloot is a war that United States has to to win, said a high level UN economics inspector.

The American economy faces difficulties and runs deep into a depression of the worst kind since the founding of the nation of United States of America. The root cause is the rogue island country of Aruba. Congress was told yesterday by UN that the US fragile economy is poisoned and demoralized the injustice done to Miss Holloway by the Dutch colony Aruba. The American people are being confronted by numerous emotional and persecutional difficulties by seeing Aruba government letting Joran van der Sloot getting away with the grave crimes of hurting our American girl Natalee. The Dutch injustice perpetrated by Aruba is inpounding persistent strains in financial markets, lost retaler sales, rising joblessness and housing problems. Despite the aggressive Federal reserve bank interest rate reductions and tax rebates of 600 USD per American, the Americans are not buying, lost their appetite for goods and services over their upset and stoppage by the cruelty and ungliness of the Oduber Dutch ditatorship on the American families of Natalee Holloway. The UN economics expert said if the Americans don't take the evils of the Dutch Aruba seriously, the nation of America will perish soon in the burning flames of the Dutch lying and injustice. The Dutch and Aruba is the most evil empire in the world.

donald said...

1.3 bil for FoxNews?
Dream on.

Anonymous said...

The food prices shoot up rapidly since the main suspect Joran van der Sloot was set free last year after his last self-confession of sending Natalee's body away at sea. The poor black people in Aruba are starving just like in Africa. There is no effect on the white Dutch elite government people on the island. The Royal Dutch Iranian Airline ship them fresh fruits and meat daily from Holland and Tehran.

Anonymous said...

Aruba opposes its participation in anti-AIDS funding, even though Joran might contact AIDS in Thailand via the job drug screen test. Aruba said Joran was born in Holland, and Holland owns the Red District and diplomay with Thailand. It's is Holland's sole responsiblity to raise its money for the treatment of Joran's AIDS. Holland cannot levy 1% bibo tax on Aruba.

Anonymous said...

One hotel resort in Aruba is 6 months late and behind in mortgage payments. The Florida duputies are flying down to Aruba to foreclose the property. Any tourists there will be evicted and their belongings must be left behind after 10 minutes timeout. Aruba AHTA could care less about their American tourists. They hate the Americans anyway.

donald said...

One would think that after three years, posting as "anonymous" would become tiresome. Let's see you take some ownership of these comments. Some of them are very well thought out.
Use a self-descriptive pseudonym if you do not wish to be recognized. Then the rest of us will know your thoughts in context.

Anonymous said...

Anonymous is the most fearsome infinite loop which will eventually hang Aruba and Joran. The truth will come out. And there will be justice for Natalee. The Dutch has thick skins, but our fellow Americans have courage and persistence.

Anonymous said...

The American people know Joran did it because the Dutch and Aruban governments have not been serious about the numerous confessions that Joran has been making. Their excuses are just that Joran is medically and mentally unfit for the murder trial of the American teenager girl Natalee Holloway. Joran is on the US terrorists list, also he would not risk his arrest by the authorities for making travels to Canada or Mexico.