|
...nice with a coffee
|
Floating domicile attracts attention from IRS
Aaron Goldfarb, risk manager of Acme Tyre Co, said, “The set up costs are real low and there’s zero corporation tax. Plus we have a lot of fun on the jet-skis and the big game fishing is outta this world. Cont p104 [If that wasn't sufficiently painful, read on for related news...]
Pirate captive ship attacks rival domiciles A floating captive domicile, which is operated by a group of renegade captive managers, has raided two Caribbean islands. The converted cruise ship, which is believed to be home to at least 20 captive insurance companies, attacked the offices of captive management firms in the Cayman Islands and later, the British Virgin Islands, stealing assets worth in the region of Doubloons12 million. Several chests of extended warranty insurance portfolios were also taken from offices. The floating domicile, a converted cruise ship which boasts zero corporation tax, light regulatory oversight and deck quoits, has ignored repeated calls from international tax authorities to hove to. Speaking on a crackly radio, the as yet unnamed captain of the pirate domicile ship said his ship would continue to attract captive insurance companies in the face of protests from tax authorities in Europe and the US. “Those OECD boys haven’t got a ship that can touch us, me hearty,” he told Riskbitz. “When them risk managers see our regulatory infrastructure and the size of the rum ration they’ll be over here like a flash. Har, Har.” The pirate captive ship, which is believed to have a suite of protected cells below decks… cont p984 [For more mind-numbing punishment, visit www.RISKbitz.com] Copyright
© 2006 RISKbitz. Reprinted with Permission.
|
|
The
US tax authorities were last night still trying to locate a floating captive
domicile recently spotted off the coast of Florida, just outside its coastguards’
jurisdiction. The converted cruise ship, which is operated by a group
of renegade captive managers, attracted the attention of the IRS after
dozens of US corporations relocated their onshore captives to the luxurious
floating financial centre.