The Panama Papers demonstrated that the superrich hide their wealth from the rest of us. Dirty Secrets shows that this was not by accident, but by design. It was the result of a powerful alliance of the wealthy, their advisers and the state that has undermined all attempts to solve the tax haven problem. This is because tax havens are the unacknowledged heart of globalized capitalism. Their purpose is to provide freedom from regulation. The exponents say this makes markets work and so we all gain. But this argument has now ...
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The Panama Papers demonstrated that the superrich hide their wealth from the rest of us. Dirty Secrets shows that this was not by accident, but by design. It was the result of a powerful alliance of the wealthy, their advisers and the state that has undermined all attempts to solve the tax haven problem. This is because tax havens are the unacknowledged heart of globalized capitalism. Their purpose is to provide freedom from regulation. The exponents say this makes markets work and so we all gain. But this argument has now failed. Furthermore democracy itself is being threatened by the political fallout from the mistrust this regime has created. The result is that tax havens are now a threat to the very system that supposedly spawned it. Dirty Secrets is the most revelatory examination of the crisis by a leading expert, but also offers solutions on how governments can regulate havens and what the world might look like without them.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
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Fine. Trade paperback (US). Glued binding. 224 p. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
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PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
This book explains what the tax haven problem is and what can be done about it. The author approaches it primarily as an economic issue. He points out that the secrecy upon which tax havens are based interferes with the functioning of markets and damages the economies of the nations that participate in them. The problem can be substantially reduced, Murphy says, by implementing what he calls "country-to-country" financial reporting. This requires parties to report what they are doing in each country in which they have any economic relationship whatsoever. Trusts and corporations would have to make public their country-level financial data such as appears in income statements and balance sheets, plus other information. The latter would include tax payments and liabilities, details of transfer pricing and beneficial ownership, plus the number of employees, and the names of individuals who are responsible for the accuracy of the reports.
He reports on some steps, although hesitant, in this direction that have already taken place, particularly by the OECD. This book is a clear and, I think to the extent possible, also a succinct analysis of the problem, and an outline of a realistic but difficult solution to it.
