Tax haven this, tax avoidance that; is offshore finance such a big deal?
June 7, 2015
“when good fortune prevails, and one is fortunate enough to experience a transition from penury to riches, money trumps morals, as the change is accompanied by a degeneration of empathy and any inclination to adhere to the law.”
c/o Scott Goddard
Yes: that is the answer to the title of this piece – offshore finance is a big deal. My somewhat optimistic hope is that by the end of this writing we will be in harmonious agreement that tax avoidance, in a democratic society, can never be condoned. Now, let’s begin shall we?
Although nowhere near as much as we should, we do hear the occasional and passing reference towards either tax avoidance or tax evasion – or increasingly so, both – when we put our feet up and stick the 10 o’clock news on or while flicking through the morning paper. Yet in spite of their limited publicity, a consensus has formed over their effect: what the jury have decided, somewhat unanimously, is that these activities are negative and harmful for society. Understanding why is obvious: they are akin to small irritating parasites, latching onto their host (society) and sucking out worrying quantities of…
View original post 9,091 more words