Vanuatu suffers
Vanuatu is under more pressure. Australia has a definate down on it. And so does the USA, it seems.
When the US's internal national police force, the FBI, arrested businessman Robert Bond they also froze the accounts of "Vanuatu Maritime Services " a New York entity. But the Government of Vanuatu says that the funds belong to the country and are nothing to do with Mr Bond or the facts leading to his arrest and charge on a variety of counts including money laundering. Vanuatu wants the money back but so far it is getting short shrift from the Americans.
Vanuatu is also under increasing pressure from Australia which says that it is a destination for much money which is either untaxed or is taxed money that will generate income that will be untaxed.
Australia claims that it loses about AUD300 million a year in tax revenues as a result of tax evasion - and avoidance - schemes involving Vanuatu.
Download PDF version of this page