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“we could imagine having 0.5 percent annual withholding tax on this wealth that would be easy for the banks to implement.”
Yes, it would be easy but can we trust them to do it? Do banks in tax havens have to divulge/report the amount of assets in their deposit?
Switzerland did not have to sign a tax deal with the UK
It’s an appalling deal but it’s signed it
These places aren’t islands – literally in some cases and metaphorically always