The battle for market share
Article Abstract:
The steady expansion in the number of locales that serve as international offshore financial centers (IOFC) has led to increased competition among both old and new tax havens. As a result, many IOFCs have begun introducing specialized new services targeted at specific users as a means of retaining or increasing their market share in a crowded market. In the Netherlands, Switzerland and Luxembourg, for example, new holding company laws have been passed in a bid to keep up with the competition from new holding company offshore sites such as Gilbraltar and the Isle of Man. Other new developments include the recently introduced legislation for captive insurance companies that have been passed in Malta and Madeira, the extension of the tax treaty regime in Barbados, and the establishment of new tax havens in Labuan, Western Samoa, Ireland and Belgium.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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The financial services supermarket
Article Abstract:
Several developments have changed international banking. The increase in competition and the financial consequences of lending large sums to one party have led banks to securitization of loans. Securitization of loans: allows the borrower to lower cost financing; the wide issuance of small denominations allows the borrower to increase their market profile; allows banks to avoid the high risk while still maintaining a close relationship with the client; and the fee income enhances a bank's return on assets. Gradual deregulation has had a positive effect on international banking. The opening of the single European market in 1992 will create a single European financial services market.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988
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Stock records during the financial year
Article Abstract:
Stock control is a requirement of both law and effective management. Section 221 of the Companies Act of 1985 requires companies to include in accounting records their assets and liabilities, with the former including stock. Thus, satisfying the Act involves the inclusion of stock figures that have been assessed during a financial year in legal accounting records. Being a subjective exercise, the assessment of the value of a stock figure to the business necessitates the judgement of management. In this regard, stock control becomes a critical aspect of effective management.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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