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And it's particularly hilarious the UK complaining about it since they are one of the biggest enablers of tax avoidance in the world. Bermuda and the Isle of M
by bornhuetter 13y ago
And it's particularly hilarious the UK complaining about it since they are one of the biggest enablers of tax avoidance in the world. Bermuda and the Isle of Man, for instance, make a complete mockery of British politicians who complain about offshoring.
(Speaking as someone who works in financial services in London).
- drucken 13y agoYup, it is also a British bank, a pre-cursor to HSBC that created the first shadow banking system. The UK has by far the largest network of control over tax haven jurisdictions, with the exception of the mighty Delaware.
- bornhuetter 13y agoExactly. You don't see that mentioned very often in the papers, though... If Google and Amazon are evil, then so are half the "British" banking and insurance companies. It's common practice to channel profits and off to countries like Bermuda to avoid both tax and regulation.
- pauljburke 13y agoIt's even funnier if you google the name of the MP in question and include the name Stemcor. This interview was particularly entertaining. http://www.channel4.com/news/margaret-hodge-tax-affairs-stemcor-trusts http://www.channel4.com/news/margaret-hodge-tax-affairs-stem...