Offshore havens 'declare war' on honest taxpayers

By Paul Lashmar - The Independent - Published: 24 September 2006

The US Senate has accused the Isle of Man, the Cayman Islands and other offshore havens of facilitating tax evasion that costs other countries billions of pounds every year.

The accusations are made in a report by Carl Levin, chairman of the Senate Permanent Subcommittee on Investigations. He said: "I believe the findings are explosive: the report blows the lid off tax haven abuses that make use of sham trusts, shell corporations and fake economic transactions to help some people dodge taxes."

Full Article on Independent.co.uk