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This review is from: The Great Tax Robbery: How Britain Became a Tax Haven for Fat Cats and Big Business (Paperback)
I have a broad understanding of accounts and tax policy and can generally see why things work the way they do. But this book explains how and where a number of the sensible policy frameworks, such as deductibility of interest payments on corporate loans, can be completely abused by routing those loans from a different part of the same corporate structure, via a tax haven, so the interest payment can be deducted from profits in one jurisdiction (UK) and routed with little or no tax on to the holding company as earnings. This may be a hard problem to solve, but solved it must be, or the whole basis of corporate taxation in global business will start to collapse, and no domestic (tax-paying) business will survive against competitors set up as subsidiaries of cleverly-structures overseas parents. That cannot benefit any country in the long run.