March 30, 2009

Tax Havens

A month ago I commented at Dinocrat:
Why is the government choosing now to hound a major, fragile Swiss bank about confidential American deposits? It reminds me of the Bush administration’s sending Drug Warriors to eradicate Afghan poppy crops–just as the Taliban is making a comeback. (Presumably the Chinese would be more than happy to pick up where the Swiss may be forced to leave off, and they could make the Swiss look like small-time operators.)
The AP reports:
However, experts such as Florida tax lawyer William M. Sharp say the victory some are claiming over tax havens may be short lived. While the flow of untaxed money to places like Switzerland and Liechtenstein will diminish, new destinations are emerging in Asia and the Middle East that will be harder to crack, he says.
The Middle East hadn't crossed my mind, but it makes sense.

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