Impact of Brexit on Tax Havens: Uncovering Offshore Secrecy
Explore the impact of Brexit on tax evasion and money laundering, shedding light on how offshore secrecy has reconfigured the British economy. Uncover the secrets of Britain's tax haven empire and its implications on global financial services.
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Presentation Transcript
BREXIT AND THE FUTURE OF TAX HAVENS The Impact of Brexit on Tax Evasion and Money Laundering 22nd January 2019 John Christensen
Steadily, stealthily, the British tax system and broader economy has been reconfigured since the 1950s to serve the interests of a class of unaccountable, untouchable offshore-diving super-rich . . swathes of the British political class are deeply embedded in offshore secrecy . . . Christensen, J. On Her Majesty s Secrecy Service in Whyte, D. (2015) How Corrupt is Britain?
Combined global market share of Britain s tax haven empire based on IMF data on cross-border shares of offshore financial services provided to non-residents is approximately 23 percent the weakest the weakest Secrecy score Secrecy score within Britain s within Britain s Spider s Web Spider s Web (2018 FSI) (2018 FSI)
At the same time (1831), the slaves were aware of the growing abolitionist movement in England. They were even more aware of the planters response to it . . . threats of armed revolt and secession . . . There was even talk of a massacre of male slaves. The Blood Never Dried, John Newsinger (2013)
Equivalence Equivalence is a relatively new legal concept which facilitates cross border trading between states that choose to recognise one another s standards. It does not, however, require both sides to harmonise on rules and legislation. EU legislation allows for revocation of a declaration of equivalence on 30 days notice. To protect itself from potential risks of deregulation and weak compliance, the EU needs to arrive at a detailed agreement on definitions, rules, legislation, and regulatory standards before even considering an offer of equivalent treatment
@jechristensen56 wwwtaxjustice.net john@taxjustice.net
