A representative of China’s tax authority spoke at TJN’s transfer pricing conference in Helsinki today.
We’ve often said, quoting the OECD, that at least 60% of world trade goes through tax havens.
China reckons 73% of its trade is with tax havens.
And you wonder why we think tax havens might distort world trade? With a tiny proportion of the world’s population this volume of trade can only be motivated by the economic abuse they facilitate.
China clearly agrees with us. I guess that’s why they’re here. They, like all other countries, need to tackle the abuse that tax havens facilitate.