The world’s major countries are awash with hypocrisy, double-standards and unintelligent arguments in their attempt to clamp down on Offshore Financial Centers, says a leading scholar.
“One man’s tax haven is another’s tax incentive,” Barbados-based Professor Avinash Persaud told OffshoreAlert. “President Obama chides the Cayman Islands in one breath and, in another, proclaims that America will be the biggest tax haven for research and innovation companies.”
“And remember how you could avoid tax if you invested in the British film industry and so a lot of money chased after a lot of deliberately-dud films? Why should some countries with extensive tax incentives tell others they cannot have them? Read full article