tag:blogger.com,1999:blog-24487626.post3328967094484697099..comments2009-11-03T01:16:22.743-08:00TJNhttp://www.blogger.com/profile/16660915220314656665noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-24487626.post-90694714930227940922009-11-02T08:32:04.163-08:002009-11-02T08:32:04.163-08:00As I expected ABBL issued a press release to state that Luxembourg is not a “secrecy jurisdiction”:and respond to the Tax Justice Network jurisdiction index that ranks Luxembourg second secrecy jurisdiction.<br />http://www.abbl.lu/articles/luxembourg-not-%E2%80%9Csecrecy-jurisdiction%E2%80%9D-abbl-response-tax-justice-network-jurisdiction-report-luxembou<br /><br />It states the data on lawyers and accountants is very much publicly available, since anyone exercising any of these professions in Luxembourg is required to register with the Luxembourg Bar or the Order of Accountants, respectively (lawyers are listed on www.barreau.lu, while accountants are listed on www.oec.lu).)<br />TJN like in the UK defines a lawyer as a person providing advice on the law, who prepares legal agreements or who pursues disputes through the legal system of a jurisdiction. The use of the term and the entitlement to practice as a lawyer is regulated in many jurisdictions.<br />This meaning is used in the Luxembourg Corporate Registration where prothat are said to be lawyer are not registered with the Luxembourg Bar <br /><br />TJN defines an accountant as a person, usually but not always qualified by examination, who prepares accounts, offers taxation and commercial advice and who may audit the accounts of companies and other limited liability entities when that is required by law. As anyone can be a statutory auditor in Luxembourg, of which accountants, one cannot knows the number<br /><br />And so on.<br />See : http://ethiquedesplaces.blogspirit.com/archive/2009/11/02/luxembourg-is-a-secrecy-jurisdiction-of-bad-faith-response-t.html<br /><br />Jérôme Turquey<br />http://ethiquedesplaces.blogspirit.comAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-24487626.post-90787509568472683892009-11-02T03:55:35.381-08:002009-11-02T03:55:35.381-08:00Dear Mr Turkey<br /><br />I&#39;m working since 23 years in the fund industry. Could you please explain me what is wrong by allowing ring-fenced UCITs?<br /><br />regards<br /><br />AS.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-24487626.post-36471013000978882682009-10-31T23:43:39.607-07:002009-10-31T23:43:39.607-07:00Delaware was not identified as a tax haven in the Stop Tax Haven Abuse Act.<br /><br />I guess that in Luxembourg as usual they will comment TJN&#39;s index by saying something like: <br /><br />Dubious index on financial secrecy: the ABBL responds. The ABBL deplores the fact that, behind a pseudo-scientific façade, this document calls into question thereputation and standards of the Luxembourg Financial Centre in general and of its members in particular. Luxembourg is a long-standing member of the Financial Action Task Force (FATF). Its efforts to preventmoney laundering have recently been highlighted by international organisations, such as the InternationalMonetary Fund (IMF). The ABBL has serious doubts about the methods used to draw up the study. The conclusions do not reflect a serious scientific approach. And blablabla.<br /><br />See for example what was said by ABBL when the Dutch study entitled “The amounts and effects of money laundering”, which described Luxembourg as the worldchampion on the “Attractiveness index for money laundering”, was published (See http://ethiquedesplaces.blogspirit.com/archive/2006/07/25/money-laundering-attractiveness.html)<br /><br />Jérôme Turquey<br />http://ethiquedesplaces.blogspirit.comAnonymousnoreply@blogger.com