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Tackling Tax Havens
Article

Tackling Tax Havens

The billions attracted by tax havens do harm to sending and receiving nations alike

IMF, 2019

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Editorial Rating

8

Qualities

  • Eye Opening
  • Overview
  • Visionary

Recommendation

The term “tax haven” conjures images of mysterious places where elites stash their wealth, but tax avoidance is a global phenomenon. The total amount squirreled away from tax collectors is staggering, as are the forgone government tax receipts: more than $500 billion annually. But the international tax system may be on the verge of significant change, according to journalist Nicholas Shaxson in this eye-opening article. Could a fairer tax allocation framework finally be in sight?

Take-Aways

  • Tax havens let people and corporations evade regulation as well as taxes.
  • The 2008 financial crisis lifted the lid on shady tax ploys.
  • An alternative view of international taxation is emerging.

About the Author

Nicholas Shaxson is a financial journalist and the author of The Finance Curse.