Top five articles of June 2014

Another month has passed very quickly for me. In this months top five I will review and compare articles to the most popular ones of the last month. You can see the articles in the following list:

1. Isle of Man
2. Companies special licenses (CSL)
3. International business company

EU investigates tax evasion for Apple, Fiat and Starbucks

Europe Union has launched an investigation towards Apple, Fiat and Starbucks, regarding the large amount of tax they might have escaped due to tax forwarding true such offshore locations as Ireland for Apple, Netherlands for Starbucks and Luxemburg for Fiat.
Atho Apple paid only 2% tax on around 74 billion income made outside America, every thing seems to be legal due to Ireland having effective tax rate of less than 2%.

Changes in the prefered location of outsourced fabrics

The preferred location for business process outsourcing has been changing in the past years. Especially in the production fabrics field. While the the telecommunication outsourcing is big in asian countries, as India has been quickly developing in the past years and taking some part of the sector as more and more educated people can be found in India. The production facilities, altho still very large part of the Chinese economy, has started to move towards Europe.

Isle of Man

Isle of Man is a self-governing British Crown Dependency near the United Kingdom, located in the Irish sea.

Language

The official language is English, while Manx Gaelic has also had official status since 1985, altho its is rarely spoken and is considered armost extinct.

Economy

Collective investment scheme

Collective investment scheme's are the investment of money with a group to gain some kind of inherent advantage. These advantages may include the higher class professional investment managers, that may be able to make higher returns on the invested money, lower transaction costs, since the all of the group invests in one package, there is no need to pay separate costs on transactions for each individual, and the invested money may be more diverse, possibly reducing the risk factor.

Large companies using offshore for tax exemption

Most big companies are using offshore branches of companies to get tax reductions. Companies such as IBM and Microsoft have billions of dollars stored away in many offshore locations. Escaping millions of dollars being paid to the US tax system and they never are going to pay taxes in US for the income originating outside US as long as they don't want the money in US banks.

British overseas territories

British overseas territories are not a part of the United Kingdom, however they are under the jurisdiction and sovereignty of it.  The head of state is british monarch and most of them are self governed. There are a total of 14 territories falling under this title, but not all of them are used as offshore locations.

Most popular of the British offshore territories that are used for offshore financial activities: