Since the economic meltdown of the late 20th century, there has been a lot of talk about economic regulation. Governments across the globe have seemingly decided to ensure that companies play by the rules. Also, leaders make claims to forcing the wealthy to pay their fair share of taxes
In this environment, it may seem that tax havens would no longer exist. Tax havens are places where the rich can hide their money from the peering eyes of the authorities seeking to tax them. The rich know their money remains safe from regulators in these countries. This DVD demonstrates that some countries still openly advertise for the elite class to bring their loot with them. Luxembourg is front and center in this documentary.
The film does not hold any punches. Major corporations have their names mentioned. For example, viewers learn about GlaxoSmithKline, a British healthcare company, that has some unusual tax practices. They, like many other businesses, have offices in Luxembourg that serve as tax diversions. Profits earned elsewhere, and thus susceptible to taxation, are sent to Luxembourg and then loaned back to the offices back home. These sorts of machinations, explains the documentary, allow companies to save billions of dollars that could have been used in the home nation to serve the public good.
Tax Havens: Where Money Hides in Style (Enhanced DVD)
Run Time: 56 Minutes
Copyright Date: 2012