Monday, January 02, 2012

'A key trait of tax havens is opacity'

Books of Account
Tax Havens
Ronen Palan, Richard Murphy, and Christian Chavagneux
(http://www.landmarkonthenet.com/)

Stirring up the havens

A story narrated by Sigmund Freud in ‘The Interpretation of Dreams' is about a man who offered three arguments when accused by his neighbour of having returned a kettle in a damaged condition: That he had returned the kettle undamaged; that it was already damaged when he borrowed it; and that he had never borrowed it in the first place. The three arguments are inconsistent, and Freud notes that it would have been better if he had only used one, explains a Wikipedia page on the ‘Kettle logic.' The arguments offered by tax havens are no different, say Ronen Palan, Richard Murphy, and Christian Chavagneux in ‘Tax Havens: How globalization really works'.

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