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市場調査レポート

市場の将来予測:タックス・ヘイブンの消失 - オフショア・プライベートバンキングにとっての課題

2020 Foresight Report: No Safe Havens - Changes in Offshore Private Banking

発行 Wealthinsight 商品コード 273851
出版日 ページ情報 英文 78 Pages
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市場の将来予測:タックス・ヘイブンの消失 - オフショア・プライベートバンキングにとっての課題 2020 Foresight Report: No Safe Havens - Changes in Offshore Private Banking
出版日: 2013年06月06日 ページ情報: 英文 78 Pages
概要

2008〜2009年の世界金融危機の教訓を踏まえて、世界各国はタックス・ヘイブン(租税回避地)を用いた租税回避・脱税を規制しようと、様々な法案・規制の制定や国際的合意の締結に取り組んでいます。これらの規制に伴い、タックス・ヘイブン諸国に拠点を構える資産管理企業は、顧客情報の提出などを求められるなど、様々な課題に直面するようになります。

当レポートでは、世界各国におけるオフショア脱税・租税回避の抑制の動きや、それが世界の資産管理企業の現状や将来動向に与える影響などを調査して、その結果を概略以下の構成でお届けします。

第1章 エグゼクティブ・サマリー

第2章 世界の現状と見通し

  • 「オフショア脱税」の世界的な動き
  • 主要市場の規制とコンプライアンス
    • 先進国市場
    • タックス・ヘイブン
    • 新興国市場
  • 近年の動向と将来展望

第3章 先進国市場

  • 米国
    • 外国口座税務コンプライアンス法(FATCA)の施行
    • オフショア市場に関する主な合意事項
    • 資産管理ビジネスへの影響
    • 課題
  • 英国
    • オフショア脱税規制の導入
    • オフショア市場に関する主な合意事項
    • 資産管理ビジネスへの影響
    • ケーススタディ
    • 課題
  • ドイツ
    • オフショア脱税規制の導入
    • オフショア市場に関する主な合意事項
    • 資産管理ビジネスへの影響
    • ケーススタディ

第4章 タックス・ヘイブン

  • スイス
    • 脱税抑制のための取り組み
    • 主な合意事項
    • 資産管理ビジネスへの影響
    • ケーススタディ
    • 課題
  • シンガポール
    • 脱税抑制のための取り組み
    • 他国との主な合意事項
    • 資産管理ビジネスへの影響
    • ケーススタディ
  • 香港
    • 脱税抑制のための取り組み
    • 資産管理ビジネスへの影響

第5章 新興国市場の動向

  • ブラジル
  • ロシア
  • インド
  • 中国

第6章 WealthInsightについて

図表一覧

目次
Product Code: WI0004FR

The report provides analysis, information and insights on regulations for curbing offshore tax evasion implemented by various governments across key markets and their impact on wealth management companies:

  • Intensive analysis of the measures being taken by some of the developed nations and emerging economies to mitigate offshore tax evasion by their taxpayers and the corresponding impact on wealth management companies
  • Detailed analysis of the initiatives being taken by some tax havens in order to stop inflow of untaxed wealth and the specific effect this has on wealth management companies in their territories
  • Insights into what wealth management companies can do to keep growing their business despite paucity of offshore funds due to punitive measures being imposed by the originating countries on concealed offshore incomes
  • Provides a snapshot of the broader trends related to the growing prominence of certain locations as tax havens and the dynamics between onshore and offshore wealth due to taxing the previously untaxed offshore wealth

Summary

Governments globally have been taking initiatives to curb offshore tax evasion for many years. However, this phenomenon has assumed increased urgency since 2008-2009 when economies across the world, developed nations in particular, were severely impacted financially. Their prime targets have been offshore tax havens such as Switzerland and Singapore. Coordinated and individual actions taken by different jurisdictions have significant ramifications for offshore wealth management companies and other institutions whose business is significantly driven by offshore deposits. The economy at the forefront of fighting offshore tax evasion is the US. It has entered into agreements with several nations to ensure that their financial institutions implement the provisions of the Foreign Account Tax Compliance Act (FATCA), passed by US Congress. Under FATCA, the financial institutions of partner nations are required to give details of accounts held by US taxpayers with them, or be subject to a withholding tax of 30%. Jurisdictions such as the UK have been signing bilateral agreements with other economies, under which limited timeframe disclosure facilities are being offered to offshore account holders to come clean on their wealth or face penalties. Wealth management companies in tax havens entering into these agreements are expected to handle significant funds through tax payments by offshore account holders. This comes under the category of tax information exchange agreements, whereby financial institutions in treaty countries are required to submit client data.

Scope

  • This report provides a detailed analysis of measures being taken by some developed nations and emerging economies to mitigate tax evasion offshore by their tax payers
  • It explains the key provisions of some of the important acts such as the Foreign Account Tax Compliance Act in the US
  • It details the measures being taken by certain tax havens to reduce their geographies from being used to evade taxes
  • It details the impact on wealth management companies that had previously derived a major share of their business from offshore wealth
  • It details the market entry strategies and product, target and customer retention strategies used by various wealth management companies in the wealth management industry
  • It suggests the new business models and marketing strategies to be adopted and the new geographies that have to be targeted by wealth management companies in tax havens to keep their business growing

Reasons To Buy

  • Understand the significance of the measures being taken by some nations such as the US, the UK and Germany to tax the offshore concealed wealth of their taxpayers
  • Comprehend the impact on wealth management companies whose business is driven mainly by offshore wealth
  • Gain insights into the business models that have to be adopted, the inherent strengths that have to be highlighted and the jurisdictions that wealth management companies in offshore tax havens have to focus on to continue to expand their businesses

Table of Contents

1. Executive Summary

2. Global Snapshot and Outlook

  • 2.1. Global Offshore Tax Evasion Dynamics
  • 2.2. Regulations and Compliance across Key Markets
    • 2.2.1. Developed economies
    • 2.2.2. Tax havens
    • 2.2.3. Emerging economies
  • 2.3. Recent Developments and Future Outlook

3. Developed Economies

  • 3.1. The US
    • 3.1.1. Introduction to FATCA
    • 3.1.2. Key agreements with offshore economies
    • 3.1.3. Impact on wealth management business
    • 3.1.4. Challenges
  • 3.2. The UK
    • 3.2.1. Introduction to offshore tax evasion regulations
    • 3.2.2. Key agreements with offshore economies
    • 3.2.3. Impact on wealth management business
    • 3.2.4. Case study
    • 3.2.5. Challenges
  • 3.3. Germany
    • 3.3.1. Introduction to offshore tax evasion regulations
    • 3.3.2. Key agreements with offshore economies
    • 3.3.3. Impact on wealth management business
    • 3.3.4. Case study

4. Tax Havens

  • 4.1. Switzerland
    • 4.1.1. Initiatives to curb tax evasion
    • 4.1.2. Key agreements
    • 4.1.3. Impact on wealth management business
    • 4.1.4. Case study
    • 4.1.5. Challenges
  • 4.2. Singapore
    • 4.2.1. Initiatives to curb tax evasion
    • 4.2.2. Key agreements with other economies
    • 4.2.3. Impact on wealth management
    • 4.2.4. Case study
  • 4.3. Hong Kong
    • 4.3.1. Initiatives to curb tax evasion
    • 4.3.2. Impact on wealth management businesses

5. Developments in Emerging Economies

  • 5.1. Brazil
  • 5.2. Russia
  • 5.3. India
  • 5.4. China

6. About WealthInsight

List of Tables

  • Table 1: Key Destinations for Offshore Wealth, 2011
  • Table 2: Offshore Tax Evasion Regulations in Developed Economies
  • Table 3: Anti-Tax Evasion Legislations in Tax Havens
  • Table 4: Initiatives to Curb Offshore Tax Evasion Taken by Emerging Economies
  • Table 5: US Accounts Held By Financial Institutions and Reporting Guidelines
  • Table 6: Exempted Offshore Institutions and Products
  • Table 7: FATCA Regulations and their Implications
  • Table 8: Number of US HNWIs and their Overall Wealth, 2008-2017
  • Table 9: Key Challenges of FATCA Regulations
  • Table 10: Penalties for Different Inaccuracies

List of Figures

  • Figure 1: FFIs Under FATCA Regulation
  • Figure 2: Obligations for FFIs Under FATCA Regulations
  • Figure 3: Evolution of US FATCA Regulations, 2010-2014
  • Figure 4: US FATCA and its Impact on Financial Institutions
  • Figure 5: Completed and In-Process Agreements with Offshore Economies, February 2013
  • Figure 6: Taxation Agreements Between the US and Switzerland
  • Figure 7: Taxation Agreements Between the US and Ireland
  • Figure 8: Taxation Agreements Between the US and Mexico
  • Figure 9: Taxation Agreements Between the US and Denmark
  • Figure 10: Taxation Agreements Between the US and the UK
  • Figure 11: Number of US HNWIs and their Overall Wealth, 2008-2017
  • Figure 12: Case Study - HSBC
  • Figure 13: Case Study - Wegelin & Co.
  • Figure 14: Classification of Territories for Determining Penalties for Offshore Tax Non-Compliance
  • Figure 15: Classification of Territories for Determining Penalties for Offshore Tax Non-Compliance
  • Figure 16: Benefits to Individuals who Volunteer under LDF
  • Figure 17: Benefits of Providing Information under IOMDFK
  • Figure 18: Case Study - Tax Payments and Offshore Employee Benefit Trusts
  • Figure 19: Case Study - Offshore Tax Evaders Roderick Smith and Stephen Howarth
  • Figure 20: Case Study - Credit Suisse
  • Figure 21: Case Study - UBS
  • Figure 22: Singaporean and German Tax Agreements
  • Figure 23: Case Study - Bank of Singapore
  • Figure 24: Impact of Tax-Evasion Regulations on Hong Kong Wealth Management
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