From the Cayman Islands and the Isle of Man to the Principality of Liechtenstein and the state of Delaware, tax havens offer lower tax rates, less stringent regulations and enforcement, and promises of strict secrecy to individuals and corporations alike. In recent years government regulators, hoping to remedy economic crisis by diverting capital from hidden [...]

” The mention of tax havens conjures up images of secret bank accounts hidden in the Alps and “shell companies” in sunny exotic islands. Most people would readily point to Switzerland, well-known for its banking secrecy or the Cayman Islands, where President Obama recently described an “outrageous” situation where over 12,000 businesses claim a particular [...]