Tax havens are jurisdictions around the world that
make wealthy taxpayers from other countries an
offer that is hard to refuse: a combination of low- or
no-tax rates for many types of income deriving from
outside their borders, and near-complete financial and
corporate anonymity. Caricatured as ‘sunny places
for shady people’, tax havens are often criticised
by public and politicians for playing host to money laundering
and celebrity tax evasion. But tax havens
have another side too: they are depriving some of the
world’s poorest countries of vital resources to fight
poverty.
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