Tax havens are essential to maintain a healthy economy, limit the overall tax burden and improve efficiency in financial markets.
Turn down the heat, switch on the light, published today by the Institute of Economic Affairs, highlights the benefits of tax havens globally. The author argues that political pronouncements vilifying companies for avoiding tax lack any honesty – or understanding – that the issue at the heart of the current debate, tax competition, results from the actions of governments and not corporations.
This is unacceptable hypocrisy on the part of politicians. The government must recognise the importance of tax