More good argument on the right direction for tax reform, this time from William Brittain-Catlin in the Guardian:
Governments of progressive nations should leave offshore tax havens and their clients to their own devices, and instead boldly declare that they will refuse to have on their soil any corporation, individual, financial entity or transaction that has an offshore connection through which profits (as well as toxic, hidden losses) are funnelled away to third party jurisdictions.
Onshore you're in, offshore you're out, simple as that. And let us subject every company and individual to the onshore test: a rigorous due diligence investigation to make sure that there is absolutely no offshore tax haven link to any company or person that wishes to use the onshore nation as place to do business in. Those that pass the onshore test will then be welcomed to join in and establish the new order.
Brittain-Catlin argues there is a trade off in this. he’s right. I’m not sure he’s got the trade off right, but this is the direction for travel now.