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Banks Are the Largest Abusers of Offshore Tax Havens

Posted By admin On May 6, 2009 @ 3:32 am In Money Watch | Comments Disabled

Washington’s Blog [1]
Wednesday, May 6, 2009

Enron was lambasted for using offshore tax havens [2] and complicated corporate structures to avoid paying taxes.

But the big banks are worse.

As the Financial Times notes [3]:

In recent separate surveys by the US Government Accountability Office and the Tax Justice Network, the largest user of tax havens in every country surveyed was a bank. Tax authorities have enormous problems puzzling out these structures. If they can, it is often hard to characterise them as shams.


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URL to article: http://www.prisonplanet.com/banks-are-the-largest-abusers-of-offshore-tax-havens.html

URLs in this post:

[1] Washington’s Blog : http://www.washingtonsblog.com/2009/05/banks-are-largest-abusers-of-offshore.html

[2] offshore tax havens: http://www.nytimes.com/2002/01/17/business/enron-s-collapse-the-havens-enron-avoided-income-taxes-in-4-of-5-years.html

[3] notes: http://www.ft.com/cms/s/0/96ec9414-39a6-11de-b82d-00144feabdc0.html

[4] Image: http://www.prisonplanet.tv/subscribe.html

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