The war in Ukraine has highlighted the danger that offshore finance poses to the rules-based global order. Western governments must seize this opportunity to combat tax avoidance and evasion while weakening the ability of autocratic regimes to foment global instability.
BERKELEY – People have been trying to dodge paying taxes since time immemorial, but globalization has turned tax avoidance and evasion, as well as money laundering, into a lucrative business model. Over the past few decades, offshore tax havens such as the Cayman Islands, Bermuda, Cyprus, and Ireland have enabled corporations and wealthy individuals to conceal profits and private wealth on an unprecedented scale.
BERKELEY – People have been trying to dodge paying taxes since time immemorial, but globalization has turned tax avoidance and evasion, as well as money laundering, into a lucrative business model. Over the past few decades, offshore tax havens such as the Cayman Islands, Bermuda, Cyprus, and Ireland have enabled corporations and wealthy individuals to conceal profits and private wealth on an unprecedented scale.