Legal luminary Geoffrey Cone, has responded to the previous week’s feature on foreign trust

The issue about New Zealand’s tax regime was at the forefront. New Zealand made the list of OECD’s as the first country implement the tax standard that is acceptable worldwide substantially. This standard was laid down in the 2002 OECD Model Agreement on Exchange of Information on Tax Matters. This agreement supports the exchange of information by countries for easy enforcement and administration of tax laws.

New Zealand has shown leadership in tax matters by being transparent on how it handles foreign trusts. Former Deputy Prime Minister Michael Cullen introduced the new rules in 2006. New Zealand is supposed to submit a Foreign Trust Disclosure form as required by IRD and keep financial and other records for tax purposes.

Most of the important details that are necessary to be kept as records are the trust deed, the recipient’s name, address, settlements, and distributions. The trustee is required to retain information about the codes of account, accounting system and the chart. These details must be documented in English and failure to do so would invite weighty fines.

Presently, New Zealand has about 39 double tax agreements, and the purpose is to prevent tax evasion and avoidance. Recently, some reasonable growth has been achieved because of the measures that are in place to ensure a better tax compliance. This has improved New Zealand’s recognition internationally as a safe and steady jurisdiction with excellent laws. The judiciary and the legal practitioner are vibrant and focused in ensuring that the rule of law prevails.

Credit must go to the successive Government for making the regulatory environment suitable for tax matters. Most of the service providers are accountants and lawyers of good repute, and they have not seized to uphold the rules of their profession.

One of the respected law firms that are very familiar with New Zealand tax, succession, structuring advice and administrative services is Cone Marshall.

Geoffrey Cone is a renowned lawyer, with almost 30 years of practice and is the head of chambers. Their practice includes assisting families in establishing trusts, partnerships, and companies in New Zealand. Karen Marshall is also a principal lawyer with Cone Marshall, and she has a lot of experience. She has worked with the firm for ten years and has continued to contribute her quota to the development of New Zealand’s tax laws. Cone Marshall has continued to handle legal matters to the admiration of clients both local and international.

Whistleblower Protection Is Part Of The Dodd Frank Act

Lubatan Suchatow is one of the few law firms in the U.S. that work specifically as a whistleblower advocate. The firm’s Whistleblower Representation Practice helps individuals report wrongdoings to the Securities Exchange Commission (SEC) in a private and confidential environment.

In the past, many people were afraid to come forward out of fear of reprisals. The passing of the Dodd-Frank Act of 2010 has given whistleblowers to cover to report securities violations without having to worry about losing their job or being subjected to harassment of any kind.

In response to the massive fraud and violations during the banking crisis of 2008, the Dodd-Frank Act implemented some of the most sweeping banking overhauls in history. Along with basic whistleblower protection, it also offers financial incentives for individuals when the sanctions are in excess of $1 million. Whistleblowers may also be entitled to additional funds through other law enforcement entities under certain rules.

Lubatan Suchatow’s Whistleblower Representation Practice is run by Thomas A. Jordan, a former SEC chief counsel, who was responsible for implementing rules and regulations at the SEC. “Thomas was a tremendous leader during his tenure at the SEC. He was the logical choice to run our program,” said a source.

Individuals needing to learn more about whistleblower protection can visit the Labatan Sucharow website. There is a wealth of information that outlines the process and offers information to let the individual what to expect. The Reuters “Whistleblowing in Corporate America” series is a must see. This six-part series will help any would be whistleblower learn the pros and cons.

Whistleblowers may contact the team via phone or directly through the website. All consultations are free. The highly-trained staff of professional analysts, accountants and investigators will see you through the entire process. Individuals should know that they can also report anonymously as long as they have an attorney.

All consultations are free of charge. The staff at Labatan Sucharow encourages individuals who wish to report offer to names of the individuals accused of ethics violations and. Our team will guide you through the entire process with the utmost professional and ethical behavior.