Tax havens take heat

(Accountancy Age): Tax havens are unlikely candidates for public sympathy, but are some being treated unfairly in the global crusade against tax avoidance? James Tipping, director of Gibraltar’s finance centre, thinks so. He laments the criticism directed at the offshore centre, arguing that Gibraltar doesn’t promote itself aggressively and has a demanding application process for those seeking a presence in the territory. Gibraltar’s plan to standardise the corporate tax rate at a flat 10% from July 2010 will see many multinationals move from a 0% rate. So far this has resulted in no companies indicating a retreat.

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