December 4, 2021

How Mauritius hopes to shake its reputation as a tax haven

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By Dana Sanchez From AFK Insider Mauritius plans to launch a trading platform that hedges African currencies against the U.S. dollar — part of a bid to shake its reputation as little more than a tax haven and expand its role as a financial hub for Africa, Reuters reported in GhanaWeb. The Indian Ocean island […]

Report IDs world’s top tax havens

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By Alanna Petroff From CNN Bermuda, the Cayman Islands and the British Virgin Islands are three of the most notorious tax havens in the world, according to a new report. Bermuda, the Cayman Islands and the British Virgin Islands are more than just sunny vacation spots. They’re also three of the biggest tax havens for […]

Why US companies can earn $51 billion in the Cayman Islands even though its GDP is only $3 billion

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By Tim Fernholz @timfernholz From Quartz The foreign subsidiaries of US corporations made $94 billion in Bermuda in 2010, the latest year we have data for. That’s incredible work, since only $6 billion of goods and services were produced on the island that year. What does that tell us? It tells us that something fishy […]

Pfizer, other companies accused of dodging taxes

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By Lee Howard From The Day Top American companies including pharmaceutical giant Pfizer Inc. are saving at least $550 billion in taxes by holding profits in overseas tax havens, according to a report Monday by the advocacy group Citizens for Tax Justice. The report said 28 U.S. corporations acknowledge paying less than 10 percent in […]