The Shame of Tax Havens
21/02/2016 13:17
The Shame of Tax Havens
Press Association via AP Images Action Aid protesters lampoon the role of Barclays Bank in helping clients set up offshore tax havens. This book review appears in the Fall 2015 issue of The American Prospect magazine. Subscribe here.
The Hidden Wealth of Nations: The Scourge of Tax Havens By Gabriel Zucman 200 pp. University of Chicago Press $20.00 Tax havens cost the world’s governments hundreds of billions of dollars a year, promote corruption, and undermine the rule of law. They are part of a larger worrisome pattern in which the world’s corporations outrun the governing capacity of states. A tax haven is a nation that refuses to cooperate with major countries in order to lure multinational corporations and investors to nominally book transactions in its locale. These transactions can be outright illegal, or borderline, but beyond the reach of http://prospect.org/article/shame-tax-havens
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