Jersey Finance has engaged with two leading US academics, Richard Gordon and Andrew Morriss, who have produced an independent assessment of the validity of some of the most prominent arguments surrounding the use of international financial centres, titled, ‘Moving Money: International Financial Flows, Taxes, & Money Laundering’.
Allegations that international financial centres enable multinational enterprises to avoid paying a ‘fair’ amount of tax, and wealthy individuals to evade paying any tax, has been of increasing public and political focus in recent years. The research paper evaluates such allegations, providing a comprehensive explanation in relation to the following:
- The benefits of free trade
- How and why money moves
- The beneficial role of offshore centres
- Compliance with global standards
- Tax sovereignty