August 28th, 2009
Any worthwhile point of view will always be met with opposition. The stance against tax havens is no exception. In that spirit, I think this is as good of time as any to present some arguments for tax havens. But, since this is my blog and I do what I want, I’m also going to take some time to refute these arguments. Discussion on the topic and “devil’s advocates” opinions are always welcome.
There are four prevalent myths about tax havens.
Myth 1: Forcing American companies out of tax havens will hinder their ability to compete...
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August 27th, 2009
Swiss Bankers Association has declined to give names of Indian holding accounts in Swiss banks. But they could not hold American's names, they buckled down, revealed names of US nationals and paid fines to US also. Why do we then fail?
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August 27th, 2009
VIENNA (Reuters) - Austria's main political parties agreed on Wednesday to pass measures which should ease banking secrecy and help bring the Alpine republic up to OECD standards on financial transparency.
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August 27th, 2009
William Wallace: Your editorial welcoming action to force tax havens to loosen the bonds of secrecy (21 August) omitted one important point: many of the world's leading tax havens fall under the British crown. Jersey, Guernsey, Isle of Man, Gibraltar, Bermuda, Cayman Islands, British Virgin Islands and Turks and Caicos are all significant offshore financial centres. All benefit from the British system of law, from the expectation of offshore investors that British oversight guarantees higher standards than competitor centres – and all have benefited from Whitehall's relaxed oversight regime.
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