Monday, October 31, 2011

What a tax haven really looks like

From the Treasure Islands blog:

I recorded this last Friday (on my, er, Iphone) while in Luxembourg. It's kind of fun. I think this helps highlight the contrast between:
  • real businesses that do real things (ArcelorMittal, whatever you may think of them this is in an industry in Luxembourg that was historically built on local iron ore and steelmaking) and
  • tax haven businesses (Itunes Europe, 8 Rue Heinrich Heine, a subsidiary of Apple, Inc. that I've blogged before.)

Sorry about the narrow picture view.


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