Tax Havens are Everywhere: They are Like The Matrix

All of us in some way or the other use one of the many tax havens across the globe. For that we need not be yacht owning billionaires or politicians with illegal funds, but people going about our normal lives. Let us have a look at how you and me too are involved in this un-holy nexus, thanks to many global corporations we deal with in our daily life -- for things as simple as buying a pill to kill a headache to as complex as building data centres or sending a satellite in to the orbit.

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We are reproducing here an article in The Guardian written by Nicholas Shaxson, one of the leading authorities on tax havens, who brings out the all pervasive nature of the tax havens in the global economy. As he writes, "But the point I want to make is that tax havens are everywhere. It’s like The Matrix. I can’t stress strongly enough how everywhereish they are. And, until recently, who even noticed?" 

FOLLOW THE MONEY: INSIDE THE WORLD'S TAX HAVENS

From the Cayman Islands to Jersey, tax havens are busier than ever – a secretive world of offshore accounts and shell companies. Nothing to do with you? Then you win my Hermit of the Year prize 

You, dear reader, are a prolific and casual user of offshore tax havens. I’m assuming you don’t live in a cave or in a remote hunting community. Even if you did, though, you’re probably a dabbler: you have little choice. 

Many people, and perhaps you’re one of them, share a queasy feeling that something has gone badly wrong with the world economy – but can’t quite put their finger on what the source of the trouble is. Once you understand the nature of offshore tax havens, you should feel closer to pinning down the answers. 

Before I explain what they are, and why powerful governments don’t just close them down, I want you to take part in a short challenge. See if you can dodge all my bear traps, and declare yourself untainted by tax havens. If you succeed, you win my Hermit of the Year prize. 

For more read: http://www.theguardian.com/business/2015/jun/19/tax-havens-money-cayman-islands-jersey-offshore-accounts