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It is quite hard to think of a tax haven that is not part of the Commonwealth or former British Empire, Panama being one of the few. A true tax haven is a diffe
by Theodores 11y ago
It is quite hard to think of a tax haven that is not part of the Commonwealth or former British Empire, Panama being one of the few. A true tax haven is a different thing to mechanisms like the 'Double Irish', seems UK PLC is getting even with that.
The Square Mile - 'City of London' - is like a country within a country too, so lots of strange finance things go on with London being one big black hole that money orbits, mysteriously.
This is how Britain punches above its weight to make London a 'world city' as far as global capitalism is concerned. This has been going on for centuries.
- twic 11y agoNone of Macau, Monaco, Liechtenstein, or Switzerland are former British possessions.
- bb101 11y agoBut they all share the same similarity - culturally and historically connected to their larger counterparts, enabling well-connected citizens to hide their money.
- cylinder 11y agoAustralia also has very lax money laundering laws, it is said that Mossack Fonseca would have faced less regulation being based in Australia vs Panama. Tories are all about extracting wealth through property and money management (tax avoidance and money laundering are forms of asset management really).
- jamessb 11y agoAustralia is in the Commonwealth: https://en.wikipedia.org/wiki/Member_states_of_the_Commonwealth_of_Nations https://en.wikipedia.org/wiki/Member_states_of_the_Commonwea...
- nixisfun 11y agoAustralia has reasonably strong money laundering laws. Australia also has quite strong financial tracking via AUSTRAC and the big four banks. Do you have any sources?