Treasure Islands: Tax Havens and the Men Who Stole the World

Treasure Islands: Tax Havens and the Men Who Stole the World

Paperback Vintage Books

By (author) Nicholas Shaxson

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  • Publisher: VINTAGE
  • Format: Paperback | 352 pages
  • Dimensions: 128mm x 194mm x 24mm | 240g
  • Publication date: 6 February 2012
  • Publication City/Country: London
  • ISBN 10: 0099541726
  • ISBN 13: 9780099541721
  • Sales rank: 24,887

Product description

Billionaire Warren Buffet, currently the third wealthiest man in the world, paid the lowest rate of tax among his office staff, including his receptionist. In 2006 the world's three biggest banana companies did nearly GBP400 million worth of business in Britain but paid just GBP128,000 in tax between them. In January 2009, US law enforcement fined Lloyds TSB $350 million after it admitted secretly channelling Iranian and Sudanese money into the US banking system. Tax havens are the most important single reason why poor people and poor countries stay poor. They lie at the very heart of the global economy, with over half the world trade processed through them. They have been instrumental in nearly every major economic event, in every big financial scandal, and in every financial crisis since the 1970s, including the latest global economic downturn. In Treasure Islands, Nicholas Shaxson shows how this happened, and what this means for you.

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Author information

Nicholas Shaxson is the author of Poisoned Wells, the Dirty Politics of African Oil, an Associate Fellow of the Royal Institute of International Affairs (Chatham House) and an experienced journalist.

Review quote

Nicholas Shaxson is the author of Poisoned Wells, the Dirty Politics of African Oil, an Associate Fellow of the Royal Institute of International Affairs (Chatham House) and an experienced journalist.

Back cover copy

'Bnakers, lawyers and accountants working from tax havens won't want you to read this book. Which is exactly why you should' Richard Murphy, Tax Research UK 'A chronicle of capitalism's frailty and foulness that digs far beyond its tax haven title and indicts the system that renders such crookedness not merely possible, but entirely predictable. It's not the banks or the hedge funds or the tame solicitors. It's the politicians as well, our politicians. It's not just the Cayman Islanders or the Swiss or the Panamanians. It's London and Washington, the OECD and the World Bank. It's the whole damned thing' Guardian 'A gobsmacking indictment of a global conspiracy that makes City bonuses seem like small change' Glasgow Herald 'Combines meticulous research with amusing anecdotes, resulting in a very readable account of the murky world of offshore and a strong moral message that the system needs to be changed' Financial Times 'A gripping read... an account illuminated by anecdotes that are often more James Bond than eurobond... Shaxson shows us that the global financial machine is broken and that very few of us have noticed' New Statesman 'Lively and well-written' Daily Mail