In early May and in the aftermath of the disclosure of the “Panama Papers”, the White House, the U.S. Treasury Secretary, and the U.S. Department of Justice made announcements about U.S. initiatives on tax and entity transparency, anti-money laundering, and transnational corruption. In a related article published on May 8, 2016 in the Financial Times and titled “US Tax Havens: The New Switzerland,” Bruce Zagaris, a partner at Berliner Corcoran and Rowe in Washington, D.C. was quoted about the irony of U.S. federal policy intending to upend offshore tax havens while state governments in the U.S. continue to be a magnet for offshore wealth via secret trusts. He is also advising certain foreign governments concerning the implications of U.S. policy developments for their country.
If you or your clients are interested in these developments or related issues, please feel free to contact Babak Hoghooghi or Bruce Zagaris at the law firm of Berliner Corcoran and Rowe in Washington, D.C.