TAX HAVEN NEWS. OTHER COUNTRIES ARE KEEPING UP WITH THE USA AND UK INVESTIGATIVE NEW LABRINYTH OF TAX HAVEN NEWS.
Earlier this month, I decided to see how hard it would be to set up my own offshore bank account. I figured it would be pretty difficult, because I’m not rich and don’t have a team of tax lawyers to oversee my money and because the E.U. and U.S. governments have been cracking down on tax havens by imposing stricter tax-sharing requirements. So I proceeded with some caution.
1. It takes 10 minutes to open an offshore account.
2. But keeping it legal is expensive.
3. It would be better if the rules were simpler.
4. Then companies might spend more on innovation and less on tax lawyers.