New Zealand is a country that has seen massive changes in legislation over the past few years. Trust and estate laws have been transformed to offer more room for easy resolution of cases and many professionals in the industry have benefitted from the tax regime. However, there has been concern across the media on how the laws imposed are likely to affect local trust litigation.
Media houses in the last few weeks have covered stories about the arrangement of the tax laws and the impact they are likely to have on the processes instated for trust law. A number of processionals including Geoffrey Cone have risen to the occasion and responded to the issue, offering insight into the matter and providing facts that have allowed individuals to understand how the laws are likely to affect them and their dealings.
On the many posts that have been made about foreign trusts, he has issued facts that have sought to reiterate the reason there has not been much progress in the local scene despite there being great achievements on international litigation. First, the much needed progress can only be achieved if New Zealand was a tax haven. The latest OECD ranking does not place the country among those that have achieved great results when it comes to working on estate and trust litigation. This is because it cannot be considered a tax haven.
To become a tax haven, one of the requirements is having as seamless system that allows easy sharing of information across governments. This has not been achieved fully although there are plans to do so. Secondly, New Zealand has not managed to relax taxes or place no taxes on certain processes and items. They have not also been able to establish a transparent system that makes the tax process easy to interpret.
The life and career of Geoffrey Cone has revolved around offering solutions to pressing issues that have been ailing different industries. He is a lawyer by profession and his main areas of operation are tax and estate litigation. Geoffrey Cone is a graduate who emerged with LLB Honors and he proceeded to pursue a diploma in estate and tax law.
Since 1980, he has been working as a lawyer and has worked with clients from different countries. One of his biggest achievements is the establishment of Cone Marshall, a law firm he founded in 1999 that offers estate and tax litigation support to clients from international markets.