Nov 01 2011

UK Conservative MP attacks Treasure Islands, backs tax havens

Posted by: Nick Shaxson in: Thoughts

In The Telegraph, an article quoting Westminster Member of Parliament Mark Field, a prominent supporter of tax havens. The article is quite balanced, I think, laying out his arguments but giving me plenty of space to respond. (In the article, instead of ‘it is healthy, I should have said ‘the basic principle is a good one’ as of course markets have become horribly corrupted, not least by tax havens.)

If you want to get into all the main argument that tax haven defenders put forwards, I’ve laid them out here, along with my responses.

2 comments so far

Liz Marley 11st November, 2011 7.49 pm

Not asking you to ask or research this. Just given work Richard J Murphy & yourself via/in Treasure Islands have done (aimed to do) to define tax havens/secrecy jurisdictions, I am curious how ‘they’ would define an International Finance Center (IFC). & if they have a definition.

Nick Shaxson 11nd November, 2011 1.39 pm

Liz, unfortunately, there is no commonly accepted definition of a tax haven or secrecy jurisdiction or offshore centre. International Financial Center (IFC) is a term used by tax havens/secrecy jurisdictions because they don’t like the term tax haven. It’s basically as simple as that, I think. Some ways to think about these things are here
http://www.financialsecrecyindex.com/documents/WhatIsASecrecyJurisdiction.pdf

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