07 March 2012

Tasmanian Chamber of Commerce & Industry 'Applauds' Tax Avoidance*

*In general, the term "evasion" applies to illegal actions and "avoidance" to actions within the law.
Statement by Robert Wallace – TCCI Chief Executive Officer
"Tasmania’s peak business body, the Tasmanian Chamber of Commerce and Industry (TCCI) has applauded the announcement that Richard Chandler Capital Corporation intends to invest in Tasmania through Gunns and facilitate the development of the pulp mill."
Seems that nobody from the TCCI investigated where the Richard Chandler Capital Corporation is registered? If they had they would have discovered its registered in the beautiful Cayman Islands. One of the beautiful things about the Cayman Islands is 'There are no taxes on profits, capital gains, income or any withholding taxes charged to foreign investors. There are no estate or death duties payable on Cayman Islands real estate or other assets held in the Cayman Islands'. All very nice for the Richard Chandler Capital Corporation but is that who they really are? According to a  Sino Oil & Gas transaction from last year its as clear as mud. "Mandolin Fund Pte Limited is a wholly owned subsidiary of Richard Chandler Capital Corporation Pte Limited
which is in turn a wholly owned subsidiary of Richard Chandler Capital Corporation. Richard Chandler Capital Corporation is wholly owned by Cosimo Management Limited as trustee of a trust of which Mr. Richard Chandler is the settlor. Pursuant to the SFO, Richard Chandler Capital Corporation Pte Limited, Richard Chandler Capital Corporation, Cosimo Management Limited and Mr. Richard Chandler as settlor are taken to be interested in the Shares held by Mandolin Fund Pte Limited."
This corporate structure has more connections than many Tasmanians have synapses but its only the tip of iceberg. The RCCC has also operated in the tax havens of Monaco and Dubai. What it shows is that the TCCI is willing to 'applaud' anybody, even if they don't have a clue who they are or what they are up to from investing in a proposal that has already got a long and tawdry history of deception, resignations, sackings and the corporate manipulation of public office.

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