The Guardian has an article today on why Delaware should be on the list of tax havens needing regulation. The above illustrates it.
Obama please note.
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Just from reading the article, I am not sure I understand what makes Delaware a tax haven. Is it just because of the lower taxes? But the article makes no mention of any secrecy or exchange of information problems. Unless those things are present, why can’t other states or nations whether the economic activity is carried on by these delaware registered corporations simply take their “share” of taxes at the source?
Mike
It’s secrecy that does it – not tax
No one knows who owns these companies
Richard