Strange of the Observer to report this

The complicated tax structures set up by the firms, or by their parent companies, make use of corporate entities in the British Virgin Islands, Luxembourg, Jersey, Guernsey and the Cayman Islands, according to a report entitled An Unhealthy Business compiled by the website Corporate Watch and revealed today by the Observer.

You mean like Guardian Media Group, owner of the Observer, does?

3 comments on “Strange of the Observer to report this

  1. So why do we even allow these tax havens? Presumably it helps the City churn or launder money of dubious origin, which in turn provides tax revenue for the government of the day. No different to Queen Elizabeth I’s support for Sir Francis Drake’s raids on Spanish bullion ships.

    Tim adds: Well, it’s all bound up with this strange idea of national sovereignty, you see? The govt of the UK gets to rule the UK. The govt of the UK does not get to run Liechtenstein, Switzerland, the Bahamas or Monaco. Those places are run by the governments, respectively, of Liechtenstein, Switzerland, the Bahamas or Monaco.

    And this national sovereignty stuff, yes, it does mean that they get to set their own tax rates ande company law. Just as we get to set ours.

    It’smpt a particularly complicated idea this: if we’re to have governmental freedom in our country then obviously, other countries must have governmental freedom in their countries.

  2. So, RM, it’s a national treasure and a long-standing custom which should be preserved as part of our heritage.

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