Probe cites IFSCs as money laundering, tax evasion hotspots
Friday, April 27, 2018
The report attributed the high vulnerability in the IFSC segment to lack of cross border supervision and monitoring, as most of them are foreign-owned.
Locally some of the IFSC-accredited firms include giant corporations such as Letshego Holdings, Choppies, Motovac, Flotek, a range of asset firms, financial services units and others.
The fees have been doubled from the previous amounts and raise concerns about political participation accessibility and democratic representation principles.This significant fee increase prompts questions regarding its impact on grassroots democracy.On one hand, the fees act as a filter, ensuring only serious contenders enter the race, potentially reducing frivolous candidacies and generating crucial campaign funds. The BDP argues that aspiring...