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15 Jan 2016

Paul R Beckett, Quinn Legal

Human rights impacts of tax havens & low tax areas have been hiding in plain sight, says lawyer

"The Isle of Man & international human rights", 14 Jan 2016

…This essay will review the use of fiscal/taxation initiatives and structures in the Isle of Man as being representative of low tax areas and relate these to transgressions of and to the legitimate invocation of international human rights norms. Tax havens and low tax areas are themselves not necessarily bound by all relevant international human rights norms, but…they impact the international human rights continuum – and in particular (the Ursprung of the tax havens and low tax areas being fiscal and commercial) economic, social and cultural rights - in ways which are far from positive…A recent estimate of taxation revenue losses in 2013 to the USA through the use of low tax areas by multi-national corporations stands at $130 billion…Aggressive tax planning, evasive or avoidance, undoubtedly distorts international capital flows and this distortion may impede the implementation by a State of its human rights obligations by limiting the means available to it to do so…