How Decolonisation Helped Create Tax Havens
by Dr. Vanessa Ogle (University of California, Berkeley) Tax avoidance, illegal tax evasion, and the system of offshore tax havens that often enables such practices make the news almost weekly. Recently, the British Virgin Islands, one of several tax havens that is simultaneously a British Dependent Territory, announced it would finally give in to pressure and established a public registry of companies. Tax and money laundering authorities will thus be able to pry open the secretive ownership arrangements behind anonymous shell companies. While the recent revelations about Donald Trump’s decade-long tax avoidance appear to suggest that he did not use offshore tax havens, his extremely aggressive tactics are an example of using domestic loopholes in the law to artificially reduce his tax burden. In the past, Trump has openly bragged about being “smart” for paying little taxes and gaming the system. Paired with the shameless practices detailed in the NYTimes investigation, such behavior and demonstrative rejection of the social contract of taxation resonates with what I described as “low white tax morale” in an article in the current issue (“‘Funk Money’: The End of Empires, The Expansion of Tax Havens, and Decolonization as an Economic and Financial Event” in Past […]