Monday, April 01, 2013

Tax leakage from Bric

From Most foreign investment in BRICs is not foreign at all-it's tycoons using tax havens
"The clearest sign that BRICs are leaking tax revenues is that each country’s biggest source of outside investment is a tax haven. China counts the tiny Caribbean bolthole of the British Virgin Islands as its biggest source of foreign investment (not including the Chinese territory of Hong Kong). India has Mauritius, Russia has Cyprus, and Brazil has the Netherlands."
via Tim Worstall in Forbes

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