Cone Marshall: Is New Zealand a Tax Haven?

The Cone Marshall is a law firm that is based in the Southern Pacific country called New Zealand. The people behind this firm that deals with tax trust management as well as tax trust are Geoffrey Cone and Karen Marshall. The two are from New Zealand. The law firm has its headquarters in Auckland and is known for specializing in other services than the mentioned ones such as tax confidence as well as trustee services to several companies. The founders of this firm are very experienced and can boast of perfect winning record. For instance, Karen used to work in the litigation department of a law firm based in London before being fished by the Cone Marshall in the year 2005.

 

One year later after joining the firm, she was appointed to become principal of this firm and her main responsibility was to offer some advice to the statutory trustee companies. She was appointed to this position due to her experience when it comes to trust management. On the other hand, Geoffrey Cone, the co-founder of Cone Marshall is very experienced when it comes to tax law and trusts. He used to work in the UK before moving back to Auckland; he specializes in international tax, trust planning as well as trust management activities.

 

Recently, Geoffrey Cone disagreed with the media reports that New Zealand is a Tax Haven and offered some of his insights why the country is not one. He said that the country lacked a private, secretive banking industry that accompanies a tax haven. He also stated that the transparency within the New Zealand government hinders the country from being called tax haven. Tax records are well kept and are easily exchanged with other governments upon a request. He also said that the penalties that follow noncompliance are a sign that New Zealand is not a tax haven and will not feature in the near future.

 

Cone talked about the new rules by Michael Cullen that requires an individual to provide details about their deals. Under his leadership, Cone Marshall has managed to become one of the most successful law firms in New Zealand specializing in international and wealth tax law. He further discredits the reports by the New Zealand media about the country being a tax haven by talking about the records that must be kept and worst of all in the English language. To become a tax haven, New Zealand has to do more that its currently doing.