Tax Havens – Low Tax or No Tax?
Tax Havens, the enemies of legitimate tax jurisdictions are coming under attack – once again.
While populations around the world are screaming for tax relief, those same finance ministers are trying to attack the No Tax jurisdictions, trying to push the blame their loss of tax revenues in a significant part on these tax havens. This seems to be an annual affair but has taken renewed vigour with this world wide recession government budgets are being considered, and international trade dialogues convene.
But frankly, these political rhetorics are really tiresome and tries to sway opinion from the real problem – the cripling taxation most countries operate under. There are so many inconsistencies in their war cry against the so called bad guys…
Some countries simply operate under a low tax system, not a no tax ideology – simply turn your gaze to Singapore or Hong Kong.
The hypocritical no tax policies are often already pursued by these countries that have very high taxes to attract foreign investment.
Tax Havens by themselves have never broken any international trade laws.
Tax Havens are rarely used to launder money or used by criminals according to the research by the CIA and the IRS.
But really this issue will not go away as long as there are those trying to escape cripling taxes and there are those willing to accomodate them. And here’s the irony, the high tax jurisdictions are both the pursuer and pursued too. To read more about this drama taking place, read this.
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