Cone Marshall aids their clients in managing their international assets and tax planning. Cone Marshall was established in 1999 and is currently located at the Parnell House, Level 3, Auckland 1151, New Zealand. The heads of this law firm are Karen Marshall and Geoffrey Cone. Geoffry Cone has been an expert in international taxes since the 1980’s. He has been recognized by the ICLG as an ideal lawyer. Karen Marshal joined the firm in 2005 after her extensive career in London at at law firm dealing with Commercial Litigation. She is still currently advising statutory trustee companies and has plenty of experience managing trusts.
The Cone Marshall law firm dominates the market in foreign trusts in New Zealand. The law firm is one of the oldest law firms that specialize in international tax advice.
Geoffry Cone published popular articles in 2012 arguing that New Zealand is not a tax haven. Instead, New Zealand has very transparent tax policies and subscribes to the 2002 Organization for Economic Co-operation and Development (OECD) Model Agreement on Exchange of Information on Tax Matters. This tax organization is considered to be the gold standard for governmental tax transparency. Since 2006, the New Zealand government mandates that the trustee of a foreign trust has to submit a Foreign Trust Disclosure form (IR607) to the IRD. This includes deeds, details of settlements, names and addresses, details of their assets, and the expenditures and income of the trustee. The New Zealand’s government have become more aggressive in enforcing these rules to prevent international money laundering.
New Zealand now has double taxation agreements in 39 other nations. These agreements are to prevent any tax inconsistencies for the collection of taxes with both New Zealand and the partner government. New Zealand has also made agreements with 20 other nations to exchange tax information to prevent citizens from hiding money in offshore havens. The information exchange agreements are not as powerful as double taxation agreements, but they can be useful in the event of audits or prosecution of money launderers.
Check out Cone Marshall’s website to find out more about the company and its services.