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Geoff Cone is a law practitioner with over thirty-five years of experience. Cone who started his career back in the year 1980 in Auckland has gathered a lot enough experience from different firms at different levels. He is the CEO of Cone Marshall Limited a law firm that is given recognition in New Zealand as the first one to operate in foreign countries offering tax and trust-related services. The 62-year-old International tax and trust attorney also had to work hard for close to 18 years before starting his first law firm. Geoff is known for his very precise analysis on matters related to tax and international trust.
Geoff Cone who is a real patriot responded to an article that to some extent associated New Zealand to tax havens. A tax haven country doesn’t subject her citizens to paying tax but if it does then it is a nominal tax. That practice is a violation of international law on taxation and revenue transparency. The use of some secretive banking methods and firms and denying other governments information that they are supposed to get are just some of the characteristics of tax havens. Exchanging of information on taxes is considered as a tool that can be used to regulate domestic tax and put more effort on it, this is according to 2002 OECD agreement which is also referred to as the gold standard transparency. New Zealand has met all the requirements that are in place and should be followed by all trustees. Geoff Cone says that New Zealand was among the first countries that OECD listed in its white list to have successfully implemented tax standard that was agreed upon internationally.
New Zealand has proved that it is determined to distance itself from the tax haven by continuously implementing all the set regulations including the filling in of IR607 form that keeps New Zealand’s financial records that could be used for tax purposes. The major use of the foreign trust is assets protection but not tax planning. Other countries have developed confidence in New Zealand and named it as the safest country, which has transparent jurisdictions. NZ has high chances of going up because of the experienced accounts and lawyers who deal with international clients on foreign trust. Cone says that New Zealand is still on the safe side and cannot be grouped among the tax havens.
Apart from defending his country Cone also loves his wife Sarah who is American. Casa Marron in South America is Cone’s most favorite place that he frequently visits with Sarah. This couple narrates how life in Casa Marron is beautiful, relaxing, and admirable. Cone is a defender of both his family and his nation. Throughout his life there a proper balance between family life and his profession.