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When we talk about Britain and their former empire, it is worth noting that times might have changed, but they still plunder their former colonies by providing
by rvba 5y ago
When we talk about Britain and their former empire, it is worth noting that times might have changed, but they still plunder their former colonies by providing tax evasion services.
If you are some warlord, dictator or just dirty businessperson, Britain will gladly launder your money through one of its multiple territories such as Jersey, Guernsey or whatever - which is some island whose sole export is providing "tax advisory" (which means not paying any taxes at all).
There is also the City of London Corporation with its secret laws and treaties, which doesnt seem to be controlled by UK government, basically group of friends with everyone in each pocket - instead of sending gunboats to plunder countries, they now use the banking system: dirty money comes in, clean money comes out, with minimum taxation.
Yet they sit on moral high ground, about supposedly helping third world. Books like "Treasure Islands" tried to shine some light on this - author even claimed that if Britain and its various island stopped the money laundering, then Africa wouldnt need external help - the untaxed money would be taxed and used for own people.
Sadly the topic of rampant and blatant tax evasion is swept under the rug, since multiple countries provide it (UK, Cyprus, Ireland, even Delaware..). There are some movements to get some common CIT rate, but those tax havens will probably find ways.