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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.

Banks Are the Largest Abusers of Offshore Tax Havens obama 340x169 [4]

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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

[5] Banks, Global Elite Confirmed to Hold $32 Trillion in Offshore Accounts: http://www.prisonplanet.com/banks-global-elite-confirmed-to-hold-32-trillion-in-offshore-accounts.html

[6] Banks Use Your Bailout Funds As “MOB” Tax Havens: http://www.prisonplanet.com/banks-use-your-bailout-funds-as-mob-tax-havens.html

[7] The Shadow Banking System: A Third Of All The Wealth In The World Is Held In Offshore Banks: http://www.prisonplanet.com/the-shadow-banking-system-a-third-of-all-the-wealth-in-the-world-is-held-in-offshore-banks.html

[8] The Global Elite Are Hiding 18 Trillion Dollars In Offshore Banks: http://www.prisonplanet.com/the-global-elite-are-hiding-18-trillion-dollars-in-offshore-banks.html

[9] US banks receive threatening letters: http://www.prisonplanet.com/us-banks-receive-threatening-letters.html

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