Tax Me If You Can

Tax Me If You Can

A new report says that at least 21 trillion dollars, is being held around the world, in what are known as offshore  accounts, or tax havens. This is as much money as the entire annual economic outputs of the US and Japan, combined but this belongs to just 10 million people worldwide who have offshore bank accounts. John Christensen from the Tax Justice Network, an organisation fiercely critical of tax havens and economist, Richard Rahn, a former Cayman Islands banking regulator and now a senior fellow at the Cato Institute, a libertarian think tank .

  • Andorra, The Bahamas, Cyprus, Liechtenstein, Luxembourg, Mauritius, Monaco, Panama, San Marino
  • Seychelles

Non-sovereign jurisdictions commonly labelled as tax havens include:

  • Campione d’Italia, an Italian exclave (Italy), Jebel Ali Free Zone in the United Arab Emirates, Labuan, off the coast of Brunei (Malaysia)
  • Curaçao (Kingdom of the Netherlands), Bermuda (United Kingdom), British Virgin Islands (United Kingdom), Cayman Islands (United Kingdom)
  • The Channel Islands of Jersey and Guernsey (United Kingdom), The Isle of Man (United Kingdom), Turks and Caicos Islands (United Kingdom), Delaware (United States)
  • Florida (United States), Nevada (United States), Texas (United States), South Dakota (United States), United States Virgin Islands (United States)
  • Wyoming (United States)

Added on: September 27th, 2012

Category: CORPORATE, MONEY, MONEY, NEWS

 
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