APAC client assets to drain from offshore centres amid tax compliance push, says report

7 June 2017 | 3 minutes read

New global tax laws aimed at improving compliance and transparency will prompt clients in the Asia Pacific to withdraw US$520 billion from offshore accounts in coming years, according to a report by Oliver Wyman and Deutsche Bank. Globally, US$1.1 trillion worth of assets under management (AUM) will flow out of offshore accounts as a result of “the second regularisation wave”,…

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