Off Shore Registration \ Bank Accounts

[Parin]

There has been alot of press recently about companies bank accounts registered off shore. How has the changes in legislation affected these businesses?

Off shrore registration was primarly a way round payaing tax (or as much tax), but now all income \ wealth is now taxable, does that render the off shore account useless?

[attagirl2]

I do not think so. As you mentioned part of the offshore account attraction was the fact that the business could not be traced in order to pay taxes. I am sure there are still businesses that get around paying even though they have offices in a particular place.