{"id":20683,"date":"2013-05-12T18:36:40","date_gmt":"2013-05-12T17:36:40","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=20683"},"modified":"2013-05-12T18:36:40","modified_gmt":"2013-05-12T17:36:40","slug":"offshore-exists-because-onshore-lets-it-do-so","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/05\/12\/offshore-exists-because-onshore-lets-it-do-so\/","title":{"rendered":"Offshore exists because onshore lets it do so"},"content":{"rendered":"<p>There's <a href=\"http:\/\/www.forbes.com\/sites\/timothyspangler\/2013\/05\/11\/offshore-financial-centers-solve-the-problems-onshore-regulators-pretend-they-dont-have\/\" target=\"_blank\">a great deal of truth in this<\/a>, even if I am not at all sure I agree with many of the writer's sentiments:<\/p>\n<blockquote><p>\u00a0The important point to remember about offshore financial centers is they exist solely and exclusively to the extent that onshore financial centers permit them. Simply put, they are a convenient way for onshore regulators and tax authorities to turn their back on difficult and knotty problems that they lack the political prowess or conviction to solve directly.<\/p><\/blockquote>\n<p>This to a very large degree is the argument Prof Ronen Palan made in his seminal 2002 book, <a href=\"http:\/\/www.amazon.co.uk\/Offshore-World-Sovereign-Markets-Millionaires\/dp\/0801472954\/ref=sr_1_2?s=books&amp;ie=UTF8&amp;qid=1368380026&amp;sr=1-2\" target=\"_blank\">The Offshore World<\/a>, \u00a0and in his book co-authored with me and\u00a0Christian\u00a0Chavagneux, <a href=\"http:\/\/www.amazon.co.uk\/Tax-Havens-Globalization-Cornell-Studies\/dp\/0801476127\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1368380026&amp;sr=1-1\" target=\"_blank\">Tax Havens: the true story of globalisation<\/a>.<\/p>\n<p>This is why I do not as yet trust the George Osborne \/ David Cameron approach to this issue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There&#8217;s a great deal of truth in this, even if I am not at all sure I agree with many of the writer&#8217;s sentiments: \u00a0The<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/05\/12\/offshore-exists-because-onshore-lets-it-do-so\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[],"class_list":["post-20683","post","type-post","status-publish","format-standard","hentry","category-tax-havens"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/20683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=20683"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/20683\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=20683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=20683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=20683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}