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The scale of Offshore account holders to be released soon in a grand journalistic exposure

Thursday, 04 April 2013
As governments struggle to raise money to solve various macro economic and structural problems as well as falling off with their voters over harsh austerity policies it turns out that the greed in business leaders is so strong that they cannot help it.

More than 175,000 UK-registered companies have been found to used directors giving addresses in offshore jurisdictions, the British paper, the Guardian has established. This raises fresh concerns about the scale of Britain's involvement in offshore secrecy arrangements.

As the UK economy remain persistently in a depressed growth zone and the government continue to pass more business favourable policies so that business can hire more propel in order that they can pay taxes thus assist the government meet its financial shortfall, many business leaders don't seem to care about the economy.

According to the Guardian, data obtained from the corporate information service Duedil reveals 177,020 companies have listed directors in jurisdictions such as the Channel Islands, British Virgin Islands, Cyprus, Dubai and the Seychelles.

It continues that more than 60,000 of those companies are listed as currently active on Companies House, the official register of UK businesses. Having directors in offshore jurisdictions does not indicate a company is doing anything illegal, or that a director is necessarily a sham.

As the information continues to evolve about capital flight to tax havens, Swedish business magazine, Fokus has also written about the issue and stated that there are also details of a one of Swedish industry's most famous names now partially hidden in the British Virgin Islands. Volvo Cars owned for some years now by Chinese Geely Automobile, which in turn is majority owned by Proper Glory Holdings, is based on the small island in the Caribbean--- Read more from the Guardian
by Scancomark.com Team

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