Posts tagged United Kingdom
This week’s cover story! Newsweek senior writer Leah McGrath Goodman digs into one of the world’s most notorious tax shelters: 
"No bigger than Boston, the island of Jersey, 14 miles west of the Normandy coast, is now considered the go-to place for the brokering of tricky bank deals, low-to-no-tax schemes and a what-happens-in-Vegas-stays-in-Vegas attitude toward the affairs of its sophisticated, well-heeled clients. The mammoth Swiss trading firm Glencore Xstrata (of tax avoider, illicit Iran-dealer Marc Rich fame) and Brevan Howard Asset Management (one of Europe’s largest hedge funds) have both hung shingles in Jersey in recent years, with an island-based law firm handling Glencore’s $10 billion public float in London and Hong Kong." 
Illustration by Tim McDonagh. 

This week’s cover story! Newsweek senior writer Leah McGrath Goodman digs into one of the world’s most notorious tax shelters: 

"No bigger than Boston, the island of Jersey, 14 miles west of the Normandy coast, is now considered the go-to place for the brokering of tricky bank deals, low-to-no-tax schemes and a what-happens-in-Vegas-stays-in-Vegas attitude toward the affairs of its sophisticated, well-heeled clients. The mammoth Swiss trading firm Glencore Xstrata (of tax avoider, illicit Iran-dealer Marc Rich fame) and Brevan Howard Asset Management (one of Europe’s largest hedge funds) have both hung shingles in Jersey in recent years, with an island-based law firm handling Glencore’s $10 billion public float in London and Hong Kong." 

Illustration by Tim McDonagh