The Benefits of Having a Cardonio Card
We all want convenience in all our daily tasks and concerns, more so with our financial transactions. And we all know how cryptocurrency rocked the globe with its radical, alternative platform to the traditional financial systems and the freedom it affords the individual who is connected to the web. Cardonio Credit Card raises the bar a bit higher with its innovative solutions to using one’s cyrptocurrency account. It is like having the best of both worlds.
Enter Cardonio Credit Card!
Anyone who has an Ether and/or Bitcoin account can now channel funds into Cardonio and make payments and purchases anywhere in the world, without any fees or mark-up. Other existing fiat currencies may also be used as funds in their accounts through bank transfer or by suing a debit/credit card. Cardonio serves as an extension to one’s existing facilities, plus the advantage of using it practically at cost and using cryptocurrency, if and when one desires.
The transaction goes through a smooth process whereby funds from a person’s ETH/BTC holdings are automatically channeled to his/her Cardonio account. A customer will have reflected ETH/BTC balances in their own personal wallet, available online at any time through Cardonio’s website portal or by using a smart phone app. Each time a card holder swipes his/her Cardonio Card, the corresponding amount of ETH/BTC equivalent to the amount of the fiat currency used in the transaction will converted accordingly.
Your remaining ETH/BTC balance will also be be exchanged for the corresponding cash value, allowing you to view in your own currency how much you have left in your wallet. No need to do any side computations. Moreover, no monthly or annual fees are collected for the use of the Cardonio Card, nor on any access to prevailing inter-bank conversion rates. Unlike most, if not all banks, Cardonio does not also charge fees for ATM transactions worldwide.
These are just some of the benefits of using Cardonio Credit Card. There is more and more to come!
Bowman Offshore Bank Transfers on Money Week finds Brits lacking
This week marks Global Money Week, with schools and other institutions across the globe doing their part for financial education, including in the UK. This is particularly important as recent research has found that a significant percentage of English and Northern Irish adults are lacking financial skills.
Financial skills deficit
The scientific study, which looked at financial knowledge and skills across the world, found that a third of adults in England could not work out how much change they should receive (source: A. Bhutoria, J. Jerrim, A. Vignoles, 2018. The financial skills of adults across the world: New estimates from PIAAC). In other measures of financial knowledge, such as calculating the cost of goods according to a certain unit, English and Northern Irish adults also ended up scoring below average.
This is worrying news, and could explain why a separate study from financial education charity MyBnk sees 54% of parents call for schools to spend more time teaching kids about personal finance. Fifty-six percent would even choose to cut time from the national curriculum to teach children about budgeting and how to avoid debt.
Money tips
With the Financial Conduct Authority warning that young people are building up an alarming amount of debt, this is certainly a group that could use a better understanding of finance. To help young people get to grips with their own money management a bit better, money manager Plum has compiled a list of tips:
- Save yourself from yourself. It's easy to get tempted by advertisements or your friends to spend more than you intend. To make sure you can still pay your bills, Plum suggests setting aside whatever you need to get through the week/month, in a separate easy access account for instance, so you can't get tempted into spending too much.
- Avoid your overdraft. It's easy to get tempted into using your current account's overdraft, with banks often giving students special deals that reduce the associated fees. However, it's not a healthy habit to get into. If you absolutely can't resist the urge to dip into the red, consider switching to a special student account that offers free overdrafts, or even a basic account that doesn't have an overdraft facility.
- Track your spending. If you keep an eye on how much you're spending and what on, even just by logging into your online bank account once a week, you should be able to see what you're spending too much money on. This includes things such as subscriptions that you're not getting anything out of, which you may be better off cancelling.
- Use credit sparingly. Aside from your overdraft, you may be tempted to get a credit card to pay for things. Always remember that you'll need to keep up with minimum repayments and pay back the whole debt eventually, so if you really must have one, make sure the card comes with low or 0% interest and no management fees. Our Best Buys may be a good place to start.
Bowman Offshore Bank Transfers on Offshore bank accounts: 10 things you should know
Offshore bank accounts may sound great in theory, but make sure you’re aware of all the potential problems and pitfalls attached.
The mere mention of the words “offshore bank account” is enough to conjure up thoughts of tax evasion, unreported income and a wide range of other dodgy dealings. The bad reputation of offshore accounts was further reinforced by the Panama Papers scandal of early 2016, which involved many high-profile world figures and led to the offshore accounts of 800 wealthy Australians coming under investigation by the Australian Taxation Office (ATO).
But despite their regular links with unlawful deeds, there’s actually nothing innately illegal about offshore bank accounts. So let’s take a look at 10 things you may or may not know about offshore accounts and how they work.
- How they work
An offshore bank account is one that is opened and held in another country. Offshore accounts are usually held in countries with minimal tax rates or other financial benefits, but there are plenty of other reasons why you might need to open an offshore account. For example, maybe you need fast access to funds to manage an overseas investment property, or perhaps to pay for your child’s education at an overseas financial institution.
Banks in countries all around the world offer accounts to attract overseas customers; some major Australian banks have dedicated units that deal with foreign customers. Our guide to offshore accounts explains how you can compare your options and choose the right account for you.
- They’re legal
Yes, you read that right – there’s nothing illegal about owning an offshore bank account. But if you don’t declare the income and earnings from that account in your annual tax return, you will find yourself on the wrong side of the law.
Australian residents are taxed on their worldwide income, which includes the money they earn from overseas assets, rental properties, and of course, bank accounts. Any income earned from an offshore account must be declared in your Australian tax return, and you can claim a foreign income tax offset in Australia if you’ve already paid tax on your earnings in another country.
- Benefits of offshore accounts
The most obvious reason someone might want to set up an offshore bank account is to pay less tax, but there are plenty of other potential benefits offered by these accounts:
- The ability to earn more interest.
- Access to foreign investments.
- Access to foreign banking products and services.
- Greater privacy, for example, a business looking to protect its trade secrets.
- For large, well-known businesses, offshore accounts can protect against the risk of overcharging by suppliers.
- Opening an account and making deposits
The process for opening an offshore bank account will vary depending on the financial institution. In most cases you will need to provide your passport, a bank statement and a signed declaration about the source of the funds being used to open your account. Deposits can be made by international money transfer.
- Harsh penalties apply to non-declaration
For some, the temptation to simply not declare their offshore accounts and therefore avoid paying tax is too great. In other circumstances, such as for some of the high-profile figures caught up in the Panama Papers Scandal, offshore accounts are used to finance illegal activity or manage the unlawful income obtained from such activities, which is hardly something the average taxpayer wants to include on their next tax return.
Whatever the case may be, failing to declare your offshore account to the ATO is a big no-no and harsh penalties apply. Penalties start at around 75 per cent of the unpaid tax on those foreign earnings, plus interest, and there is always the potential for further investigation and prosecution by the Australian Federal Police or the Department of Public Prosecutions.
- Tax havens
What do you get when you combine low tax rates, a stable political and economic climate, and a local regime that’s reluctant to disclose any information to foreign tax authorities? You get a tax haven, a country that attracts money from wealthy people and large corporations all around the world that are looking to reduce their tax bill any way they can. The Seychelles, the Cayman Islands, the British Virgin Islands, Switzerland and, until recently, Panama are all attractive destinations for money from all corners of the globe.
By setting up a bank account in a country that does not have an agreement to exchange financial information with Australia, an Australian taxpayer could theoretically avoid being taxed on the money in that account. In more complex cases, a dodgy taxpayer could set up a foreign shell company to conceal the true owner of money or other assets and make it even more difficult for the ATO to catch up with them.
- The ATO and undisclosed accounts
In recent years, the ATO has dedicated plenty of time and resources to hunting down tax evaders all over the world, as people like Paul Hogan can testify. It’s also committed an increasing amount of resources to targeting wealthy Australians with undeclared income in offshore accounts, establishing agreements with governments and major financial institutions around the world.
From March through to December 2014, the ATO ran Project DO IT (Declare Offshore Income Today), which allowed Australians holding illegal money offshore to declare those funds and receive immunity from prosecution. These tax dodgers also had the opportunity to avoid many of the significant financial penalties normally associated with bringing this income into the Australian tax system, and as a result it’s estimated that $600 million in income and $4 billion of assets were disclosed.
- Panama Papers investigations
The Panama Papers data leak contained information about the financial dealings of more than 214,000 financial entities connected to people in over 200 jurisdictions worldwide, including around 800 Australians. As a result, the ATO launched an investigation into the activities of those 800 people accused of hiding their wealth.
Around the world, many high-profile figures were implicated in the scandal including Vladimir Putin, David Cameron, the Prime Ministers of Iceland and Pakistan, and even kung fu film star Jackie Chan.
- Voluntary disclosure
If you have an undeclared offshore bank account, the sooner you disclose it to the ATO the better. Coming forward before the ATO comes after you can significantly reduce the penalties imposed and also the risk of prosecution. However, you should always seek legal and tax advice from an expert, for example your accountant or lawyer, before making a voluntary disclosure.
- Never hesitate to get professional advice
Although this article is only a very general guide to offshore bank accounts, you will have figured out by now that opening and maintaining an offshore account can be a complicated undertaking. There are many laws and regulations you need to abide by, not to mention myriad tax implications to consider.
With this in mind, it’s recommended that you get some professional financial advice before opening an offshore bank account. This will help you work out whether an offshore account is right for you, and what you need to do to ensure that everything is legal and above board.
Galveston Jakarta Capital Reviews: Ministry Expects Tourism Boost after Sumba Resort Named World's Best
Jakarta. Tourism Minister Arief Yahya said on Tuesday (11/07) his office will expect a boom in tourism on Sumba Island in East Nusa Tenggara after Nihiwatu Resort was named the best hotel in the world by readers of Travel + Leisure magazine.
Speaking in Central Jakarta on Wednesday, Arief said the award will give confidence to Sumba residents to promote tourism to their island.
"[In the region], we must compete with Vietnam to boost tourism here, but we need to work on easing regulations, which are not appealing to investors," the minister added.
Vietnam is the only Southeast Asian country mentioned as a "most improved country" in the World Economic Forum's 2017 travel and tourism competitiveness index. That list also includes Japan, Azerbaijan, Tajikistan and Israel.
Arief said the main problem facing the tourism industry in Indonesia is tight government regulations. To change that, the minister has urged provinces to create special economic zones and show preferential treatment to investors in tourism facilities.
"Tourist destinations must establish their own economic zones and give investors special treatment so they do not have to deal with local bureaucracy. It should be like a one-stop service for investors," he said.
Travel + Leisure magazine has named Nihi, dubbed as a "new paradise beyond Bali," the world's best hotel for two consecutive years.
The resort offers tree house villas situated on top of a cliff as well as 33 other private villas with their own swimming pools, all constructed with local and organic material. James McBride of Nihi Resort said the hotel offers eco-friendly spaces as well as island exploration expeditions, where guests can engage with local communities.
"I think luxury is an overused term. If you build a resort by the beach, that's no longer luxury to me. Our accommodation is elegant and built with local products, but luxury is not about what you build. It's about people and experiences, and those two together are what makes us excellent," McBride said.
Aloysius Seran from Sumba's Development Planning Board said the island has become more well known in recent years.
"We used to be less famous than Sumbawa [West Nusa Tenggara], but now people are more familiar. We are hoping the government will show support and help build our infrastructure and improve local education and health services, empowering our communities," Aloysius said.
Rooms at Nihi Resort start at $750 a night, with a minimum stay of three nights required for booking. A five-bedroom estate available for booking can cost from $6,350 to $14,175 per night. Guests can reach Sumba Island by taking flights to either Tambolaka Airport in West Sumba or Waingapu Airport in East Sumba.
Contact Information of CRIB Advisors Mentors Singapore, Women networking Singapore
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www.crib.com.sg
International Financial Securities Regulatory Commission: Oversight
FINRA provides the first line of oversight for broker-dealers and the first line of defense for investors by virtue of its comprehensive oversight program. FINRA regulates both the firms and professionals selling securities in the United States and the U.S. securities markets. In this capacity, FINRA writes and enforces its own rules, as well as enforcing federal securities rules and laws.
Member Regulation examines all firms for compliance with FINRA, MSRB and SEC rules, and federal securities laws. It also analyzes and regulates firm sales practices.
Enforcement advances investor confidence through vigorous, fair and effective enforcement of securities rules and laws, and by investigating potential violations.
Office of Fraud Detection and Market Intelligence
OFDMI gathers and evaluates regulatory intelligence to detect insider trading and other strategies to gain unfair market advantage.
Adjudication and Decisions
FINRA can take disciplinary action against firms and individuals who break securities rules by either issuing a formal complaint or through a settlement.
Market Regulation
Market Regulation achieves its market integrity mandate with a unique equity and options cross-market surveillance program employing advanced technology
Transparency Services
The department oversees FINRA’s equity and debt reporting facilities and ensures market transparency for investors and other market participants.
Office of the Chief Economist
The office analyzes the costs and benefits of existing and potential FINRA rulemaking to ensure that rules minimize unnecessary regulatory burdens.
The International Financial Securities Regulatory Commission was established to promote investor confidence in the securities and capital markets by providing more structure and government oversight.
Axia Consultants : More Complex RFP Scoring
Scoring scheme for more complex vendor RFP responses and comments
Despite requesting a particular format of response to your RFP, you may well receive a wide variety of responses and comments from vendors. Scoring these can be complicated, especially if there is no standard format. The ideal solution would be to specify and receive standard format responses. The next best - is to create a scoring scheme that categorizes the responses / comments into various categories that are useful to you. Then convert the vendor’s RFP responses into categories and associate each with a numerical score. The example below illustrates the potential solution.
The problem - a typically wide variety of vendor RFP response comments.
The functionality requirement X is achieved by:
- Standard software AA version 1103
- Standard software AA v1103, via tailoring screen configuration and report configuration
- Using windows capabilities
- Using / integrating with software BB
- This could be achieved subject to a full specification, however, it is believed that CC tools may be utilized / interfaced to fulfill the requirement
- Standard software AA version 1104, when released
- Standard software AA will be offering this feature in a future release
- A future release, further discussions are required
- Standard software AA could offer this functionality, subject to a full specification, if customer is prepared to part sponsor this
- Possible modifications required, pending further discussions
- Modifications required subject to a full specification
The solution – is to either separately categorize the responses/comments and then score these, or combine the categorization and scoring eg by creating a table of RFP Response Categories and Associated Scores (with categories / scores that are useful to you), and then convert the vendor RFP responses/comments into a score.
On previous pages we have suggested a simple scoring range from 0 to 3 eg 0 = not met, 1 = partly met, 2 = fully met, 3 = exceeded expectations. But as the responses / comments are more complicated, you could use a wider scoring range say from 0 to 10 (with 10 the best, 0 the worst)
