HomeОбществоRelated VideosMore From: New Economics Foundation

Tax Havens - Investigating International Finance - Episode 1

207 ratings | 28462 views
Used by wealthy individuals and companies to shift huge sums of money around the world in secret, tax havens cost governments and ordinary taxpayers billions of pounds. International efforts to tackle tax havens to date have been feeble, but there's no reason why action can't be taken. How can we put a end to such widespread tax evasion? This is the first in a series of four videos investigating different areas of the international finance system. Each is a short introduction to a major challenge we face if we want to reform global finance and make it work for people and the planet.
Category: Общество
Html code for embedding videos on your blog
Text Comments (39)
Lihe Wang (2 years ago)
Lujin Song (2 years ago)
Xohn Kuax (2 years ago)
The people in the comment section are either really dumb, clueless, or they're paid posters by the ultra rich. There is no way anyone of you can get close to the wealth of the people that use tax havens. Open your eyes, no matter how successful you may be in your business.
awsomeguy001 (2 years ago)
People who create jobs and sell useful things deserve to put their money wherever they want
awsomeguy001 (2 years ago)
this is so dumb
AE (2 years ago)
5:30 wtf. What does the life expectancy of Zambia have anything to do with this? If that country didn't have these tax laws, this company wouldn't have even been involved there.
AE (2 years ago)
5:05 yeah taxpayers "lose out." They lose out on someone else's hard earned income
AE (2 years ago)
4:50 is this video really trying to argue that corporations paying less in tax make it impossible for 3rd world counties to develop? Is this a fucking joke?
Powerdriller Power (2 years ago)
Why the rich do not pay taxes, while the middle and low classes do ??
Tiago_R_Ribeiro (2 years ago)
8:30 LOL!
Joshua Mwaniki (2 years ago)
Why can't they set up a sting operation or something? Like Cia goes to Barclay's and asks them to do their thing and explain to them how they did it
Critical Thinking (3 years ago)
If governments printed their own damn money rather than letting central banks do it then tax havens might not be such an issue. By giving up their sovereign duty to print their own money with no interest and allowing central banks to print money with interest puts the citizens into debt slavery and exacerbates the tax problem. Governments could lower taxes if they didn't have to pay back the false interest the central banks charge. Almost all of these tax issues stem from the fraudulent fiat currency, money system and its unsustainable model of spiraling debt.
ChannelMath (3 years ago)
great job. although you seem to be claiming sometimes that the money is lost to the people of the developed country as well as the tax haven country. It's lost to one or the other, or it's shared
InstTaxSolutionsLLC (4 years ago)
Many governments would oppose these methods.
inferno0020 (4 years ago)
The paradise of Liberatarians
chungdha (4 years ago)
But TAX is something stupid itself as its mostly cause of the government can't earn their own money but need to get basically free money from all the people in the country. Why doesn't the government not use the billions they get to earn money instead of only spending it like crazy. As I have seen like logo pitches when they would pay 50.000euro for a logo they already own but shifted to a different department. And tons of other spendings that makes no sense. And also governments have money to buy and take over companies easily and earn money from it. As a business most governments who only spend money and not find ways to earn money will get in trouble and basically cause the trouble and increase tax. And mostly the tax often effect the less wealthy and start ups which runs up against tons of tax laws making them to sometimes have less profit of selling a product than the amount they have to pay for tax while keeping the price in a goldy locks zone. While most wealthy companies has no problem with tax but rather avoid it. I am starting up my company but have to say making products in Europe is crazy expensive prices are not even fair and most goes into labor and administration while most are CNC parts which does not need tons of manual labor, if I would make the products in Asia shipped it over and have to pay import tax I still be able to earn a larger profit than have to pay tax.
Joshua Mwaniki (2 years ago)
That makes no sense.. If I own a company the money I make gers reinvested.... If the government owns a company they'd have to use the money to build roads thus the money won't be reinvested
Calvin (3 years ago)
The reason why governments don't get involved in business activities is due to a concept called "competitive neutrality" which states that government should not be involved in business because doing so would give them an unfair advantage due to the fact that they are government and can therefore effectively change the rules of business to suit themselves. Makes sense to me. Let businesses do business. Government is there to set regulations and to tax the rich and give to the poor.
chungdha (4 years ago)
Once you start running a business the most important is keeping clients happy and earning decent profit to develop the next big thing. At the moment I am starting up and most important are the prices as I am not big and famous company that can sell stuff with prices above the other companies and afford to do that. However I am doing a full production that is fully made and packed in Holland for my first product. But have to say to really start producing better product the next really might need to be made outside of Holland. As the other problem is most companies in Holland are ignoring me cause I am a start up and they don't do production runs of 500 pieces and must be 1000 which I hardly can afford doing, nor is it a doable for me to have a big enough space for store all of that. However not designed the smallest thing that I could do a large batch and store and have to later work on the bigger things and I had contacted outside of Holland and more pleased to do 500 production runs for better prices. But at the moment am sticking to Holland so I can do quality control. But I probably would add a office in Hong Kong when I am bigger to produce there and do quality checks. As I have seen the poor conditions of certain companies in China but its not all of them , there are ones being run under western conditions and more humane ways as the factories being setup by western companies and have people flown over to manage it and do checks and they are providing them with work and money. As tons of people have low to no educations grow up on farms and small villages. You say its inhumane conditions which certain are but I have also seen good ones and people quite happy working and its better they have work and able to pay for everything than be poor and starving too death.
chungdha (4 years ago)
Tax hasn't fallen here in Holland instead of 19% now risen to 21%. Well also cause allot of people don't want to do simple job and let people in the country work the lower paid jobs who then send the money back to their countries, in Poland, Turkey, Marocco and now opening the borders to even more countries. This cause non regular cash flow as they are not spending money here in Holland but transfering it to other countries. Plus cause companies now making everything in China, India or Turkey cause they can produce product in for much lower cost causing the economy to run down too cause the cash flow is flowing out of the country more than put into the country Holland and less and less companies are surviving and have less products that exports from Holland. And allot of factories in Holland are closing cause they can't compete with the low prices from other countries cause of the regulation and taxes, making it impossible for companies to survive and able to compete with low prices. If I am looking into producing part in Holland and its often triple the price of other countries and even with transporting out of China I am cheaper and able to sell product for a much better price. When I was searching for manufactures in Holland there were just a handful that still actually produce in Holland while most are still a dutch company but they have factories in China or Poland who actually produce the parts.
chungdha (4 years ago)
+Zoran de Saint-Simon Well those are stuff they should be spending tax on but if you really look at what they spend on you can see how fucked up and selfish allot of politicians are.
Stephen Heckman (4 years ago)
Tax havens are the result of the government overtaxing its population. If tax policies were more fair and the government was less greedy and corrupt, the wealthy would have less of an incentive to avoid taxes.
awsomeguy001 (2 years ago)
Ben O'Brien (3 years ago)
+Stephen Heckman Tax havens are a result of an instinctive greed inherent to people in general. This greed manifests itself in a nasty, manic fashion when people acquire either tremendous wealth or power in a relatively short period of time, and the preservation of said wealth/power becomes a matter of self-preservation. I think a lot of it has to do with power more than anything else
Stephen Heckman (4 years ago)
+Zoran de Saint-Simon  I have - both stocks lost about 10 percent over the last week or so. Emotions aside, taxes in the US are not lower than they've been in the last 100 years. If you want to slow the exodus of US capital to tax havens, we need to return to the minimal tax era - lower taxes on both the rich and the poor.
w77eed (4 years ago)
if they got rid of tax havens 1.1 million students a year could go to uni for free.
The SuRxgeon (4 years ago)
Why is everyone mad at the wealty?? This is available for everybody to do!! take advantage and stop complaining
Powerdriller Power (2 years ago)
+The SuRxgeon ::: The middle class and the poor do not have enough money for the minimum transfer and saving amount that require the tax heavens. In the case of third world countries it is criminal the hemorrhage of resources that leave, that is one of the reasons those countries can not grow. Only the rich which includes politicians benefit from this crime.
Avron Fernandes (4 years ago)
I miss the good old days when you could just have a box in a Swiss Bank with a few million dollar stocks, some platinum bars, a few diamonds, and some obscurely rare and valuable piece of art. 
Robert F (5 years ago)
Understand this, governments are NOT countries. You are not your government.. So 'tax havens' keep money out of the hands of the -government- not the country per se.
InstTaxSolutionsLLC (5 years ago)
Many of these tax avoidance schemes are created by governments through treaties that create tax amnesty to avoid double taxation.
petejt (5 years ago)
Where is Episode 2?
Gordon Bradley (5 years ago)
Why isn't this on prime-time t v ?
Budwe15er (5 years ago)
We no Cameron /Yid .You didnt no about this .But dont worry us working mugs will wash your laundry.Leave the EU,it wont cost tax havens a penny.
Graham Wishart (5 years ago)
buckleyboyben (5 years ago)
excellent. Makes you feel like the political elites in our society are actually encouraging this. Also, political party donations - I wonder how many come from companies using tax havens?
Gabriel Monette (5 years ago)
Great video, very important topic! I
Stjepan Kos (5 years ago)
Well done, great video, very important. Best wishes from Bjelovar, Croatia.
Rick Dowdall (5 years ago)
Even the biggest companies are into this. The world works better when things are fairer.

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.