John Christensen Director, Tax Justice Network gave a talk on Sunday March 16th at the Hop Blossom Pub
Tax havens occupy a central place in contemporary capitalism. They have played a pivotal role in the reconfiguration of the global political economy, enabling a tiny minority to enjoy the benefits of representation without taxation. As a major tax haven nation, Britain has played a key role in shaping the global tax haven economy.
John’s talk presentation can be found HERE.
In combination, tax competition (where pressure is brought to bear on governments to reduce taxes that may result in an overall decline of corporation tax rates often resulting in a switch of the tax from the owners of capital to workers and consumers), aggressive tax avoidance, tax evasion and associated illicit capital flight to offshore finance centres imposes a massive cost on developing countries. This cost exceeds aid flows and also distorts investment patterns to the extent that it undermines growth in developing countries whilst also stimulating asset market bubbles.
David Cameron has said “We want to use G8 to drive a more serious debate on tax evasion and avoidance… This is an issue whose time has come.”
TJN is fighting, via G8 and G10, to improve tax transparency, remove tax distortions and restore practicability of taxing corporate profits.”
For more information:
- Treasure Islands: Tax Havens and the Men Who Stole the World, by Nick Shaxson.
The Tax Justice Network is an independent international network launched in 2003. We are dedicated to high-level research, analysis and advocacy in the field of international tax and the international aspects of financial regulation. We map, analyse and explain the role of tax and the harmful impacts of tax evasion, tax avoidance, tax competition and tax havens. The world of offshore tax havens is a particular focus of our work.
Our core goals are to create understanding and debate, and to promote reform, especially in poorer countries. We are not aligned to any political party.