Tuesday, May 10, 2016

Tax havens: the doublespeak London – The World

Mailboxes used by  shell companies in the Cayman Islands in 2012, a  tax haven under British sovereignty.

They will come, not come? While the UK organizes this Thursday, May 12 great international anti-corruption summit in the wake of the scandal “Panama papers”, and wants to set itself up as the world leader in the fight against tax evasion, he risks ‘have important absentees around the table: tax haven of the British fold themselves. The fourteen territories overseas (Cayman Islands, British Virgin Islands, Bermuda …) and three Crown Dependencies (Jersey, Guernsey and the Isle of Man) dragging their feet and have no desire to come to knuckles rapped in public. “We are in discussion with [these territories] and we expect that a number of them join the summit” says Downing Street, remaining wave.

the case sums up the ambivalence of London. In recent years, the UK has made the fight against tax evasion a priority displayed. Within the Organisation for Economic Co-operation and Development (OECD), it now plays an active role in the creation of common tax standards for large multinationals. Internally, it has also increased legislative cures to fill the gaping loopholes used by companies. Since 2010, London believes it has thus raised 2 billion pounds (2.5 billion euros) in additional tax revenue.

But at the same time tax havens which are in the British orbit still good to wear. According to Nicholas Shaxson, author of Treasure …

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