Download Offshore Finance and Small States: Sovereignty, Size and by W. Vlcek PDF

By W. Vlcek

One course in the direction of improvement taken by way of a couple of small jurisdictions is the institution of an offshore monetary centre. this article analyses the particular financial contribution for a number of small Caribbean economies and the impression to persisted operation bobbing up from a global initiative for the trade of taxpayer info.

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Extra info for Offshore Finance and Small States: Sovereignty, Size and Money (International Political Economy)

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As already mentioned and widely noted in the literature on postcolonial states, self-determination, and nationalism, many new states are not homogenous territories, in part because of uti possidetis (Ratner, 1996). These former colonies came to sovereign status with preexisting internal problems of nationalism and self-determination (along with secessionist and recidivist demands). The partition of the Subcontinent into India and Pakistan for example, did not resolve such problems there, as East Pakistan became Bangladesh in 1971, and the Kashmir province remains a flashpoint between India and Pakistan.

28) In other words, even though no concrete and indisputable evidence of tax evasion exists, the tax administration continues to believe that the intention of the transaction was to avoid paying tax. Therefore, it must demonstrate that the evidence available is sufficient to imply that the underlying intention in the mind of the taxpayer was tax avoidance. ’ (Bacchetta and Espinosa, 1995: p. 104) Because of the very nature of tax avoidance and tax evasion, an accurate assessment of the extent and prevalence of these activities continues to be difficult.

This fact introduces an additional dynamic to the debate on harmful tax competition, as the administering state becomes a participant in efforts to constrain OFCs. Furthermore, the administering state may have competing and conflicting interests within the debate on taxation, as in the case of the United Kingdom which is a member of the European Union, a member of the Commonwealth, and the administering state for a number of jurisdictions (Clegg, 2006). Even though the emphasis here is on those jurisdictions possessing sovereign status, and treated as sovereign states within the international system, nonetheless the non-self-governing jurisdictions must be discussed with the context of offshore finance and the Organization for Economic Co-operation and Development (OECD) project against tax competition because they include prominent participants.

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