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