Hedge funds, tax havens and the IoD
The Institute of Directors seems to have discovered a nice line in counter-intuitive, slightly bizarre thinking (click here).
If you want to beat the tax havens, relax some of the laws and bring hedge funds back on shore, it’s experts says. Interesting thinking that.
This is odd because we’re at a time when tax havens are under real pressure to improve their acts and when there are intense demands for hedge funds to become more transparent. Only yesterday one organisation was banging on about how much fraud was being uncovered among hedge funds.
Surely they could be brought onshore if we were to subject them to some pretty tough new rules.
World leaders have demanded on tax havens as part of their prescription for healing the financial crisis. Now is not the time that any politician is going to sanction the kind of action the IoD is asking for.