Those bold warriors for equality, the IMF have finally stopped discriminating against the hard working thieves and hoarders of capital, bless-
The distinction between “offshore” and “onshore” financial centres has been dropped by the International Monetary Fund, in a victory for more than 40 small countries that complained they had been unfairly stigmatised in the fight against financial crime.
The IMF said the distinction between on- and offshore centres “had been blurred by globalisation”, which had increased the range of cross-border transactions in many countries, as well as the launch of new financial centres catering to non-residents in countries such as Botswana, Brunei, Dubai and Uruguay.
And get this-
The IMF said the absence of objective criteria for defining an OFC “makes it difficult to draw the line in a credible manner”. Past criteria have included orienting business primarily to non-residents and low or zero tax rates. The difficulties were underlined by an IMF paper last year in which the UK was classified as an OFC using a definition based on the ratio of net financial services exports to gross domestic product.
Woohoo! Nulabour made us a tax haven! But now, there’s no difference thanks to the IMF, functioning states and tax havens are becoming harmonised! Why must they rob Gordon and Anthony of even that accompishmnent?