Tax and the issue of its transparency is a subject matter with a
mixture of new and renewed pressure points. These pressure points
stem from various sources, but the key is the unrelenting demand
arising from global regulatory standard setting bodies and
multilateral agencies.
These demands are effectively meant to create a standard global
playing field, levelling key provisions in international tax and
legal arbitrage, "levers" which all financial centres
have historically used to establish a competitive edge.
Concurrently, thanks to the numerous media exposé and
attention-grabbing headlines, the global business and asset
intermediation industry has been vilified and positioned as THE
unifying bogeyman. Never in recent history has tax, has it been the
focus of so much discussion, both in mainstream newspapers and
Boardrooms. There is now even a concept of paying an equitable
amount of tax, especially if the corporate body wants to be seen as
a responsible global
