The Pandora Papers release has put the spotlight on Samoa as an international financial centre.
Much of the media’s assertions has been around use the of Samoa’s entities or solutions. The
implications in the media reports are that Samoa is being used for illegal activities; this is incorrect.
We ask all concerned to consider the following facts:
1. Much of the matters raised in the media reports are historical and go back to events that
took place in the 1980s and 1990s. There have been significant and appropriate regulatory
developments since then.
2. Samoa has signed up to tax transparency measures and regularly shares information
internationally with other countries for example, through the Common Reporting Standards.
In fact, Samoa is rated Largely Compliant by the OECD Global Forum in the transparency of
exchange of information for tax purposes.
3. Samoa meets the high international requirements and standards for Anti Money Laundering
and counter-terrorist financing set by the Financial Action Task Force (FATF).
4. The effect of the above is that it is very difficult (if not impossible) to channel illegal activities
through Samoa.
5. The only remaining issue is the tax-free status currently given to entities registered with
SIFA. Samoa is presently working diligently with the European Union to come up with a
viable and proper solution for Samoa.
6. It is unfair and wrong to victimise Samoa by implication as to the alleged activities as widely
reported in the media, particularly when Asiaciti has its head office in Singapore and many
other offices other than in Samoa.
7. Samoa, like any other country, needs investment and tax is a major factor in investment
decisions. We are currently working on policy proposals for ideas on how Samoa’s tax
system can be reformed to attract investment. Despite assertions made in media reports
internationally, most of Samoa’s clients come here for legitimate reasons (for the same
reasons they legitimately go to countries such as UK and Singapore). Their decisions are
based on bona fide reasons (such as asset protection). These are the clients that we retain,
and we believe that tax reforms will continue to achieve this result as well as continue to
attract investment into Samoa.