There’s been a lot of pro-tax haven comment on this blog over the last day or two. It was sparked by a letter in the FT, reproduced here, from a solicitor who has made his fortune defending tax havens and all the usual culprits from offshore have been out to add their comments all over the blog.
Rather than reply individually to the comments made I thought I would, in the run up to the G20, summarise what tax havens / secrecy jurisdictions really do. This will be a series, starting with the next blog.
I’d encourage those who differ to comment. They might also wish to suggest the positive attributes of tax havens, with reasoned argument to support their case, please.
I will then of course happily refute what they say with evidence.
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Richard
In a friendly spirit of “hands across the ocean”, might I be permitted to start the ball rolling here by giving some positive general comments on tax havens? I have been to quite a few on holidays (but never with a suitcase full of used fivers).
1. Their weather is usually better than that of the UK (with the possible exception of the Isle of Man, which I have not been to).
2. One does not, generally, have to pay VAT on hotel and restaurant bills etc.
3. I got a shaving brush in Jersey whose handle was made out of some weird sort of cabbage or brussels sprout bush (I think). I’m not aware that this material is used for such purposes anywhere else.
Look forward to your articles and of course your reasoned arguments to support your extremist views. Don’t get me wrong, I am not necessarily a pro-offshore financial centre person per se but I do think that people in glasshouse shouldn’t throw stones…and so if the offshore financial centres of the world are to be blamed for the world’s ills right now and face tighter scrutiny, regulation etc etc then there this should also apply right across the board with no exception.
I mentioned on another article the states of Wymoing, Nevada and Delaware and if by magic, the Economist has published an article on lax laws and regulation in those states and also Britain re secrecy/ setting up companies etc. I doubt Mr Murphy would have brought this article to this blog’s attention as it doesn’t serve his purpose and I doube this will get past the moderator…here is the link and perhaps proof that a level playing field is required right across the board http://www.economist.com/finance/displaystory.cfm?story_id=13382279
John
Of course I believe in reform across the board
I criticise the UK and US for not delivering it, often
And they notice, I’ll tell you
Richard
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