Nick Shaxson ■ Haven quote of the day: there are no activities here
From Fortune Magazine, an investigation into Luxembourg’s shady corporate dealings:
“The mailbox marked AIG/Lincoln—the name of a partner of the New York–based insurance and real estate giant AIG—is empty and unlocked. Moments later, in the company’s fifth-floor office, I meet AIG/Lincoln’s employee (introduced as the sole one), who, as it happens, also works for the roughly 30 other companies housed in the modest suite.
When I ask how one works for dozens of bosses, the response is, “It is not very hard. There are no activities here.”
No earth-shattering news here: just a reminder of what really happens in tax havens, or (if you prefer) secrecy jurisdictions.
More on how Luxembourg became a tax haven, here.
Ordinary people shortchanged by Covid recovery measures in Global South
To protect children’s right to education, governments must fight tax abuse
Tax and racial justice: the Tax Justice Network podcast, the Taxcast
Glencore and Sinosteel cases in Cameroon: Practical cases of the need for more transparency on extractive contracts in Africa
Affaires Glencore et Sinosteel au Cameroun: Cas pratiques du besoin de plus de transparence sur les contrats extractifs en Afrique
Switzerland – Submission to the UN Committee for the Convention on the Elimination of All Forms of Discrimination Against Women
20 September 2022