In the United States House of Representatives, where I had the honor to serve for eight years, there is a strict rule against the use by a Member of "unparliamentary" or "offensive" words. Should a speaker use such language, any other member can object and demand that "the words be taken down."
Indeed, I once used that parliamentary device to silence my late colleague from New York, the Honorable Bella Abzug, when she accused all Republicans of being "racists." So serious is such a ruling that the offending Member will not be allowed to speak again on that day, except by motion or unanimous consent.
In fact, certain words have been ruled by the House Speaker to be so inherently offensive as to be manifestly out of order per se -- words such as accusing another Member of being a "Nazi".
Inherently Evil?
I cite this quaint House rule because it appears to me that the world's far Left demagogues are trying mightily to make us believe that the words "tax haven" denote places that are inherently offensive and evil -- full of the dirty cash and hidden assets of drug lords, terrorists and tax evaders. (See my comment below "Why Tax Havens Are a Blessing")
The Left, and their lap dog media, made the most of the recent criminal act by the German government of bribing a Liechtenstein bank ex-employee to sell the names of foreign account holders, implying that the mere act of having a bank account in that honest tax haven was automatic proof of tax evasion.
The latest chapter in this coordinated "hate tax havens" campaign is an outrageous demand by the newly re-elected socialist government of Spain to "black list" Gibraltar -- simply because it is a tax haven.
Official Denial
Spanish officials claim to believe that because "The Rock" is indeed, a tax haven, therefore Spain thinks it shelters corrupt businesses, tax evaders and money launderers. They want the left-wing and hardly impartial Organization for Economic Cooperation and Development (OECD) to investigate this alleged criminal conduct.
Peter Caruana, the Chief Minister of Gibraltar, disputes these claims: "If the Spanish government is saying that the Gibraltarian authorities are not cooperating with Spain in the way we cooperate with other countries, that is simply untrue," he said.
This latest complaint is the latest in a long series of attacks by the Spanish government against the British overseas territory and comes weeks after Gibraltarian and British authorities were criticized by Spain for failing to secure a stricken ship in disputed waters off the peninsula.
Gibraltar was seized by the British in 1704 with the Spanish ceding sovereignty in 1713 under the Treaty of Utrecht. But Spain stubbornly retains a constitutional claim and calls for its return, an issue that has long tarnished relations between Spain and Britain.
The two nations considered sharing sovereignty, but in a 2002 referendum 99% of Gibraltarians rejected the move and voted to remain a British colony. In 2006 Britain, Spain and Gibraltar signed an historic agreement to solve mutual problems. The Labour government in London has pledged, if it can be believed, that no agreement with Spain will be made final unless the people of Gibraltar approve, which is highly unlikely.
Gibraltar Cleaner then Spain
The actual truth is that Gibraltar has a much better record in regulation of financial services than Spain, as measured by almost every independent international organization. The latest very positive IMF report on Gibraltar shows the untruth of the Spanish assault and proves the clean reality of how The Rock operates.
Gibraltar has fashioned itself into a dual purpose residential tax haven for high net worth individuals from around the world – and as a professional base for tax free international business corporations and trusts. Gibraltar imposes no capital gains, wealth, or estate taxes. The reopening of the border with Spain in 1985 enabled Gibraltar to expand its role as a major international finance center, against a background of political stability and administrative and legal systems derived from English common law and traditions.
The absence of any exchange control restrictions together with exemptions and concessions from domestic taxes for certain categories of companies, high net worth and non-resident individuals, and trusts administered for non-residents has created many opportunities for offshore investors and led to substantial growth in financial sector services.
* To find out about Gibraltar and other offshore havens where you may be able to lower or avoid taxes completely, click here
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