The Billions Attracted By Tax Havens Do Harm To Sending And Receiving Nations Alike
from the International Monetary Fund
– this post authored by Nicholas Shaxson
Until the 2008 financial crisis, tax havens were generally seen as exotic sideshows to the global economy, Caribbean islands or Alpine financial fortresses frequented by celebrities, gangsters, and wealthy aristocrats. Since then, the world has woken up to two sobering facts: first, the phenomenon is far bigger and more central to the global economy than nearly anyone had imagined; and second, the biggest havens aren’t where we thought they were.
Source: http://econintersect.com/pages/contributors/contributor.php?post=201909180513
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