Friday, October 21, 2011

The Big Debate: Should Companies Use Tax Havens?

London Loves Business has just published an article pitching TJN's John Christensen against Philip Booth of the Institute of Economic Affairs (a think tank closely associated with economic libertarianism) in a discussion about the corporate use of tax havens.

John argues the economic - both micro and macro - case against tax havens, pointing out how secrecy creates a criminogenic environment that stimulates illicit financial flows and tax evasion.

Philip concedes that such criticisms are valid, but justifies corporate tax avoidance on the grounds that tax havens are a "competitive spur to other countries to keep taxes down".

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