Treasure Islands

Résumé du livre

Nicholas Shaxson is a journalist and an associate fellow of the Royal Institute of International Affairs. He’s the author of Poisoned Wells: The Dirty Politics of African Oil and he’s also a researcher for the Tax Justice Network.

Over half of global trade flows through tax havens, where corporations and wealthy individuals exploit loopholes to minimize taxes. Companies like Starbucks shift profits to subsidiaries in tax havens, claiming brand value as justification, while entities like Rupert Murdoch's News Corp report suspiciously low profits. Defenders argue tax havens promote competition or protect wealth from corruption, but these claims falter under scrutiny. Instead, tax havens provide unfair advantages, allowing users to benefit from public services without contributing. The U.S., despite criticizing offshore havens, offers domestic secrecy through states like Delaware. Globally, the British-led network of secrecy jurisdictions facilitates money laundering and capital flight, draining developing nations of resources. Studies reveal staggering losses, with corrupt elites hiding wealth offshore, often exceeding their nations’ debts. Tax havens primarily serve the wealthy, isolating local economies and undermining societal fairness by enabling deferred taxes and secrecy. Ultimately, these systems perpetuate inequality, benefiting elites at the expense of broader societal progress.

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